Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Ari Pramuditya, Rofiq Hidayat
House of Representative. Photo by:RES
As 2015 draws to a close, the House of Representatives (“House”) passed the Bill on Guarantees (“Bill”) on Thursday 17 December. The Bill is expected to become the solution for businesses, especially Small- to Medium-Scale Enterprises (“SME”), which are looking to develop and expand, and ultimately may elevate the Indonesian marketplace to a new level.
Chairman of the Legislature, Firman Subagyo, stated that when the House officially initiated deliberations into the Bill, a number of actions were taken by the House in order to gather input from the public. Moreover, in order to ensure that as wide a range of inputs as possible were eventually accommodated, the Legislative Body at the House was given the task of socializing the provisions set out under the Bill across the various regions of the country.
“The Bill has accommodated substantial input from various quarters,” Subagyo asserted.
According to Mr. Subagyo, the Bill has been highly anticipated by the country’s business community, particularly SME businesses, especially in light of the fact that the upcoming ASEAN Economic Community (AEC) free-trade zone means that Indonesian businesses will have to strengthen their competitiveness. In the bigger picture then, SME businesses are set to play an increasingly significant role in shoring up national economic stability.
In practice however, SME businesses often encounter problems as regards the obtaining of financial assistance in the form of credit or financing facilities. The reason for this is that SME businesses do not possess the requisite collateral. This difficulty can turn into a huge headache for SME businesses who are attempting to acquire raw materials for use in their production processes.
In order to overcome this problem, Mr. Subagyo explained that the government has introduced a number of financial and guarantee measures, including an excise-guarantee institution, bank guarantees, insurance and sharia banks. However, in order to improve efficiency it was necessary to group all of these institutions under the umbrella of a higher level regulation.
“On this basis, the Bill is needed in order to form a solid legal basis for guarantee institutions, as in the banking industry,” Mr. Subagyo explained.
The Minister of Finance, Bambang Brodjonegoro, stated that the government is expecting that the Bill will be able to overcome the common problems which face SME businesses. Mr. Brodjonegoro is also confident that the Bill will answer the needs of financial-service institutions and cooperatives, as regards credit or financing facilities being extended to SME businesses. At the same time, the Bill will hopefully contribute to an increase in production activity within guarantee institutions themselves.
“This Bill is expected to become a firm legal basis for banking and guarantee institutions as they assist SME businesses,” Mr. Brodjonegoro stressed.
Mr. Brodjonegoro is hopeful that the gist of the Bill can be disseminated among the Indonesian public, so that the population at large can provide some positive input aimed at improving the country’s guarantee services. Additionally, the Bill will also serve as a guideline for business entities as they actively contribute towards the development of the national economy.
“This Bill should be used as a benchmark by businesses in order to increase the development of our economy,” Mr. Brodjonegoro concluded.
(rfs/sp)
Ari Pramuditya, Rofiq Hidayat
House of Representative. Photo by:RES
As 2015 draws to a close, the House of Representatives (“House”) passed the Bill on Guarantees (“Bill”) on Thursday 17 December. The Bill is expected to become the solution for businesses, especially Small- to Medium-Scale Enterprises (“SME”), which are looking to develop and expand, and ultimately may elevate the Indonesian marketplace to a new level.
Chairman of the Legislature, Firman Subagyo, stated that when the House officially initiated deliberations into the Bill, a number of actions were taken by the House in order to gather input from the public. Moreover, in order to ensure that as wide a range of inputs as possible were eventually accommodated, the Legislative Body at the House was given the task of socializing the provisions set out under the Bill across the various regions of the country.
“The Bill has accommodated substantial input from various quarters,” Subagyo asserted.
According to Mr. Subagyo, the Bill has been highly anticipated by the country’s business community, particularly SME businesses, especially in light of the fact that the upcoming ASEAN Economic Community (AEC) free-trade zone means that Indonesian businesses will have to strengthen their competitiveness. In the bigger picture then, SME businesses are set to play an increasingly significant role in shoring up national economic stability.
In practice however, SME businesses often encounter problems as regards the obtaining of financial assistance in the form of credit or financing facilities. The reason for this is that SME businesses do not possess the requisite collateral. This difficulty can turn into a huge headache for SME businesses who are attempting to acquire raw materials for use in their production processes.
In order to overcome this problem, Mr. Subagyo explained that the government has introduced a number of financial and guarantee measures, including an excise-guarantee institution, bank guarantees, insurance and sharia banks. However, in order to improve efficiency it was necessary to group all of these institutions under the umbrella of a higher level regulation.
“On this basis, the Bill is needed in order to form a solid legal basis for guarantee institutions, as in the banking industry,” Mr. Subagyo explained.
The Minister of Finance, Bambang Brodjonegoro, stated that the government is expecting that the Bill will be able to overcome the common problems which face SME businesses. Mr. Brodjonegoro is also confident that the Bill will answer the needs of financial-service institutions and cooperatives, as regards credit or financing facilities being extended to SME businesses. At the same time, the Bill will hopefully contribute to an increase in production activity within guarantee institutions themselves.
“This Bill is expected to become a firm legal basis for banking and guarantee institutions as they assist SME businesses,” Mr. Brodjonegoro stressed.
Mr. Brodjonegoro is hopeful that the gist of the Bill can be disseminated among the Indonesian public, so that the population at large can provide some positive input aimed at improving the country’s guarantee services. Additionally, the Bill will also serve as a guideline for business entities as they actively contribute towards the development of the national economy.
“This Bill should be used as a benchmark by businesses in order to increase the development of our economy,” Mr. Brodjonegoro concluded.
(rfs/sp)