Indonesia's parliament on Tuesday passed into law an emergency decree on jobs and investment, eliminating legal uncertainty hanging over measures President Joko Widodo has pushed to spur investment in Southeast Asia's largest economy.
The new law replaces the 2020 Jobs Creation law, which was praised by foreign investors for streamlining business rules in the bureaucracy-heavy country, but also criticised by labour and green groups as being too pro-business.the passage of that law was flawed due to inadequate public consultation and ordered a renewed debate process in parliament within two years.
The Labour Party, which currently has no seat in parliament but plans to contest the 2024 elections, opposed the passage, with some 300 members rallying to protest the new law near the manpower ministry office. "The job creation decree is a measure to mitigate global crises ... prevents problems from spreading and global vulnerabilities affecting the national economy," Airlangga told parliament after the passage.
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