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Ada Pertanyaan? Hubungi Kami Marcell Sihombing, ANT
The Coordinating Ministry for Economic Affairs is currently drafting a government regulation with the aim of standardizing licensing procedures and public services, hopefully making life for businesses easier and establishing a more consistent business-licensing standard that will be applicable throughout different government regimes.
Edy Putra Irawady, Deputy of Industry and Trade at the Coordinating Ministry for Economic Affairs, explained during a discussion which was held in Jakarta on Monday, 30 May, 2016 that there was a clear need for the current government to formulate a policy that will standardize public services for licensing. Mr. Irawady expressed his hope that this in turn would result in greater ease and convenience for those who are looking to start up businesses and would ultimately dispense with long-winded bureaucratic processes.
Mr. Irawady also explained during his address that another reason behind the Draft Regulation was the many different licensing procedures which are currently hampering the processing of licenses. In fact, a number of procedures were only in the format of various technical guidelines and were not issued by the central government. These so-called unofficial guidelines have become major obstacles for any businesses, entrepreneurs and investors looking to secure licenses.
“We [the Coordinating Ministry] are aiming to standardize some six laws which currently regulate business licensing procedures into a single Government Regulation. It is hoped that the draft regulation which is being deliberated will result in a sustainable policy which will remain applicable, even though the current administration or ministers will in time be replaced,” Irawady asserted.
The six laws mentioned above encompass: (i) Law No. 25 of 2009 on Public Service; (ii) Law No. 30 of 2014 on Governmental Administration; (iii) Law No. 5 of 2014 on Civil Government Officials; (iv) Law No. 2 of 2014 on the Amendment to Law No. 23 of 2014 on Regional Governments; (v) Law No. 5 of 1999 on the Prohibition of Monopoly and Unfair Business Practices; and (vi) Law No. 25 of 2007 on Investment.
The Coordinating Ministry is aiming to finalize the draft regulation soon, after a series of internal meetings have been completed. The plan is that the draft regulation will also support the implementation of the government’s 12th Economic Policy Package, which was officially announced on 28 April 2016.
Capital-Market Services
Meanwhile, the Financial Services Authority (OJK) has also launched a new electronic licensing and license-registration system. According to M. Noor Rachman, the OJK’s Deputy Commissioner of Capital Market Supervisor II, this new electronic system is being launched in order to help streamline licensing, registration, extension of licenses and reporting processes within the capital-market sector. Various capital-market services can thus be conducted in a simpler, faster, more efficient, and more measureable way.
“The new system should ultimately streamline and simplify licensing procedures, as well as improve the efficiency and effectiveness of our licensing services. Eventually, the number of capital-market license holders and products should see a significant increase, while Indonesia’s financial-industry sector should also see a boost,” asserted Mr. Rachman in a press release obtained by hukumonline on Tuesday, 31 May 2016.
It is believed that this new system will also improve information transparency with respect to license processing. Initially, this new system will be implemented for mutual-funds sales-agent representative licensing; license extensions; the reporting of securities company representatives [i.e. investment managers (WMI), stockbrokers (WPPE), and underwriters (WPEE)]; the registration and reporting of mutual-funds securities sales agents; and so forth. Furthermore, the OJK is already planning to issue a regulation which will offer technical guidelines for licensing, registration, license extensions, and reporting procedures for the capital-market sector in an attempt to support the recently launched electronic system.
Mr. Rachman firmly believes that this new electronic system should ultimately promote three positive improvements within the capital-market sector. Firstly, transparency should improve, so that all licensing procedures become simple, transparent, and accessible by parties which require such information to be properly provided. Secondly, accountability should increase, which means that all processes involved in the system are measurable and can be accounted for. And thirdly, participation should improve, which means that the new system will encourage business practitioners to take part in the organization of public services in conjunction with the OJK.
Edy Putra Irawady, Deputy of Industry and Trade at the Coordinating Ministry for Economic Affairs, explained during a discussion which was held in Jakarta on Monday, 30 May, 2016 that there was a clear need for the current government to formulate a policy that will standardize public services for licensing. Mr. Irawady expressed his hope that this in turn would result in greater ease and convenience for those who are looking to start up businesses and would ultimately dispense with long-winded bureaucratic processes.
Mr. Irawady also explained during his address that another reason behind the Draft Regulation was the many different licensing procedures which are currently hampering the processing of licenses. In fact, a number of procedures were only in the format of various technical guidelines and were not issued by the central government. These so-called unofficial guidelines have become major obstacles for any businesses, entrepreneurs and investors looking to secure licenses.
“We [the Coordinating Ministry] are aiming to standardize some six laws which currently regulate business licensing procedures into a single Government Regulation. It is hoped that the draft regulation which is being deliberated will result in a sustainable policy which will remain applicable, even though the current administration or ministers will in time be replaced,” Irawady asserted.
The six laws mentioned above encompass: (i) Law No. 25 of 2009 on Public Service; (ii) Law No. 30 of 2014 on Governmental Administration; (iii) Law No. 5 of 2014 on Civil Government Officials; (iv) Law No. 2 of 2014 on the Amendment to Law No. 23 of 2014 on Regional Governments; (v) Law No. 5 of 1999 on the Prohibition of Monopoly and Unfair Business Practices; and (vi) Law No. 25 of 2007 on Investment.
The Coordinating Ministry is aiming to finalize the draft regulation soon, after a series of internal meetings have been completed. The plan is that the draft regulation will also support the implementation of the government’s 12th Economic Policy Package, which was officially announced on 28 April 2016.
Capital-Market Services
Meanwhile, the Financial Services Authority (OJK) has also launched a new electronic licensing and license-registration system. According to M. Noor Rachman, the OJK’s Deputy Commissioner of Capital Market Supervisor II, this new electronic system is being launched in order to help streamline licensing, registration, extension of licenses and reporting processes within the capital-market sector. Various capital-market services can thus be conducted in a simpler, faster, more efficient, and more measureable way.
“The new system should ultimately streamline and simplify licensing procedures, as well as improve the efficiency and effectiveness of our licensing services. Eventually, the number of capital-market license holders and products should see a significant increase, while Indonesia’s financial-industry sector should also see a boost,” asserted Mr. Rachman in a press release obtained by hukumonline on Tuesday, 31 May 2016.
It is believed that this new system will also improve information transparency with respect to license processing. Initially, this new system will be implemented for mutual-funds sales-agent representative licensing; license extensions; the reporting of securities company representatives [i.e. investment managers (WMI), stockbrokers (WPPE), and underwriters (WPEE)]; the registration and reporting of mutual-funds securities sales agents; and so forth. Furthermore, the OJK is already planning to issue a regulation which will offer technical guidelines for licensing, registration, license extensions, and reporting procedures for the capital-market sector in an attempt to support the recently launched electronic system.
Mr. Rachman firmly believes that this new electronic system should ultimately promote three positive improvements within the capital-market sector. Firstly, transparency should improve, so that all licensing procedures become simple, transparent, and accessible by parties which require such information to be properly provided. Secondly, accountability should increase, which means that all processes involved in the system are measurable and can be accounted for. And thirdly, participation should improve, which means that the new system will encourage business practitioners to take part in the organization of public services in conjunction with the OJK.
(hs/sp)
Marcell Sihombing, ANT
The Coordinating Ministry for Economic Affairs is currently drafting a government regulation with the aim of standardizing licensing procedures and public services, hopefully making life for businesses easier and establishing a more consistent business-licensing standard that will be applicable throughout different government regimes.
Edy Putra Irawady, Deputy of Industry and Trade at the Coordinating Ministry for Economic Affairs, explained during a discussion which was held in Jakarta on Monday, 30 May, 2016 that there was a clear need for the current government to formulate a policy that will standardize public services for licensing. Mr. Irawady expressed his hope that this in turn would result in greater ease and convenience for those who are looking to start up businesses and would ultimately dispense with long-winded bureaucratic processes.
Mr. Irawady also explained during his address that another reason behind the Draft Regulation was the many different licensing procedures which are currently hampering the processing of licenses. In fact, a number of procedures were only in the format of various technical guidelines and were not issued by the central government. These so-called unofficial guidelines have become major obstacles for any businesses, entrepreneurs and investors looking to secure licenses.
“We [the Coordinating Ministry] are aiming to standardize some six laws which currently regulate business licensing procedures into a single Government Regulation. It is hoped that the draft regulation which is being deliberated will result in a sustainable policy which will remain applicable, even though the current administration or ministers will in time be replaced,” Irawady asserted.
The six laws mentioned above encompass: (i) Law No. 25 of 2009 on Public Service; (ii) Law No. 30 of 2014 on Governmental Administration; (iii) Law No. 5 of 2014 on Civil Government Officials; (iv) Law No. 2 of 2014 on the Amendment to Law No. 23 of 2014 on Regional Governments; (v) Law No. 5 of 1999 on the Prohibition of Monopoly and Unfair Business Practices; and (vi) Law No. 25 of 2007 on Investment.
The Coordinating Ministry is aiming to finalize the draft regulation soon, after a series of internal meetings have been completed. The plan is that the draft regulation will also support the implementation of the government’s 12th Economic Policy Package, which was officially announced on 28 April 2016.
Capital-Market Services
Meanwhile, the Financial Services Authority (OJK) has also launched a new electronic licensing and license-registration system. According to M. Noor Rachman, the OJK’s Deputy Commissioner of Capital Market Supervisor II, this new electronic system is being launched in order to help streamline licensing, registration, extension of licenses and reporting processes within the capital-market sector. Various capital-market services can thus be conducted in a simpler, faster, more efficient, and more measureable way.
“The new system should ultimately streamline and simplify licensing procedures, as well as improve the efficiency and effectiveness of our licensing services. Eventually, the number of capital-market license holders and products should see a significant increase, while Indonesia’s financial-industry sector should also see a boost,” asserted Mr. Rachman in a press release obtained by hukumonline on Tuesday, 31 May 2016.
It is believed that this new system will also improve information transparency with respect to license processing. Initially, this new system will be implemented for mutual-funds sales-agent representative licensing; license extensions; the reporting of securities company representatives [i.e. investment managers (WMI), stockbrokers (WPPE), and underwriters (WPEE)]; the registration and reporting of mutual-funds securities sales agents; and so forth. Furthermore, the OJK is already planning to issue a regulation which will offer technical guidelines for licensing, registration, license extensions, and reporting procedures for the capital-market sector in an attempt to support the recently launched electronic system.
Mr. Rachman firmly believes that this new electronic system should ultimately promote three positive improvements within the capital-market sector. Firstly, transparency should improve, so that all licensing procedures become simple, transparent, and accessible by parties which require such information to be properly provided. Secondly, accountability should increase, which means that all processes involved in the system are measurable and can be accounted for. And thirdly, participation should improve, which means that the new system will encourage business practitioners to take part in the organization of public services in conjunction with the OJK.
Edy Putra Irawady, Deputy of Industry and Trade at the Coordinating Ministry for Economic Affairs, explained during a discussion which was held in Jakarta on Monday, 30 May, 2016 that there was a clear need for the current government to formulate a policy that will standardize public services for licensing. Mr. Irawady expressed his hope that this in turn would result in greater ease and convenience for those who are looking to start up businesses and would ultimately dispense with long-winded bureaucratic processes.
Mr. Irawady also explained during his address that another reason behind the Draft Regulation was the many different licensing procedures which are currently hampering the processing of licenses. In fact, a number of procedures were only in the format of various technical guidelines and were not issued by the central government. These so-called unofficial guidelines have become major obstacles for any businesses, entrepreneurs and investors looking to secure licenses.
“We [the Coordinating Ministry] are aiming to standardize some six laws which currently regulate business licensing procedures into a single Government Regulation. It is hoped that the draft regulation which is being deliberated will result in a sustainable policy which will remain applicable, even though the current administration or ministers will in time be replaced,” Irawady asserted.
The six laws mentioned above encompass: (i) Law No. 25 of 2009 on Public Service; (ii) Law No. 30 of 2014 on Governmental Administration; (iii) Law No. 5 of 2014 on Civil Government Officials; (iv) Law No. 2 of 2014 on the Amendment to Law No. 23 of 2014 on Regional Governments; (v) Law No. 5 of 1999 on the Prohibition of Monopoly and Unfair Business Practices; and (vi) Law No. 25 of 2007 on Investment.
The Coordinating Ministry is aiming to finalize the draft regulation soon, after a series of internal meetings have been completed. The plan is that the draft regulation will also support the implementation of the government’s 12th Economic Policy Package, which was officially announced on 28 April 2016.
Capital-Market Services
Meanwhile, the Financial Services Authority (OJK) has also launched a new electronic licensing and license-registration system. According to M. Noor Rachman, the OJK’s Deputy Commissioner of Capital Market Supervisor II, this new electronic system is being launched in order to help streamline licensing, registration, extension of licenses and reporting processes within the capital-market sector. Various capital-market services can thus be conducted in a simpler, faster, more efficient, and more measureable way.
“The new system should ultimately streamline and simplify licensing procedures, as well as improve the efficiency and effectiveness of our licensing services. Eventually, the number of capital-market license holders and products should see a significant increase, while Indonesia’s financial-industry sector should also see a boost,” asserted Mr. Rachman in a press release obtained by hukumonline on Tuesday, 31 May 2016.
It is believed that this new system will also improve information transparency with respect to license processing. Initially, this new system will be implemented for mutual-funds sales-agent representative licensing; license extensions; the reporting of securities company representatives [i.e. investment managers (WMI), stockbrokers (WPPE), and underwriters (WPEE)]; the registration and reporting of mutual-funds securities sales agents; and so forth. Furthermore, the OJK is already planning to issue a regulation which will offer technical guidelines for licensing, registration, license extensions, and reporting procedures for the capital-market sector in an attempt to support the recently launched electronic system.
Mr. Rachman firmly believes that this new electronic system should ultimately promote three positive improvements within the capital-market sector. Firstly, transparency should improve, so that all licensing procedures become simple, transparent, and accessible by parties which require such information to be properly provided. Secondly, accountability should increase, which means that all processes involved in the system are measurable and can be accounted for. And thirdly, participation should improve, which means that the new system will encourage business practitioners to take part in the organization of public services in conjunction with the OJK.
(hs/sp)