JAKARTA, KOMPAS.com – Indonesia gains global competitive advantage with the recently passed Jobs Creation Law, Vice President Ma’ruf Amin said on Tuesday.
Ma’ruf said that Indonesia has lost competitiveness from neighboring countries such as Thailand, Malaysia, Vietnam, and Cambodia due to its complicated regulations in business and investment.
“Therefore, the Jobs Creation Law was produced to boost Indonesia’s competitiveness,” the vice president told the Alumni of 60th and 61st Regular Education Program of the National Resilience Institute (Lemhanas), in a virtual event on October 13.
He said the complicated regulations have impacted the investment climate in the country, causing delays in jobs creation. The regulations have caused a long time to process the business licensing.
“Some improvements can be done by introducing laws that are integrated, more responsive, providing a better legal certainty for the business community,” he said.
He said that the new law caused Indonesia’s credibility at stake in the eyes of the international community. This is due to the economic downturn amid the Covid-19 pandemic.
The new controversial law has been criticized by various groups and has sparked violent protests throughout the country.
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