- The President of the Republic of Indonesia, Joko Widodo, accompanied by the Minister of Investment, Bahlil Lahadalia and the Minister of Finance, Sri Mulyani Indrawati, has now officially launched the new risk-based Online Single Submission ("OSS") system, which is an integral part of the structural reform agenda currently being implemented by the government, as mandated under Law No. 11 of 2020 on Job Creation ("Job-Creation Law").
- President Widodo has affirmed that the introduction of the new risk-based OSS represents a major licensing reform since the new system offers online licensing services that have adopted a risk-based licensing model. The president went on to emphasize that the new OSS system would hopefully improve the overall ease of doing business in Indonesia. Through the new system, business licensing processes will be adjusted in accordance with risk levels. For example, businesses that are characterized by low levels of risk will only be required to secure Business Identification Numbers (Nomor Induk Berusaha/NIB) prior to commencing operations.
- President Widodo has also stressed that the implementation of the risk-based OSS is likely to lead to a significant increase in micro-, small-, medium- and large-scale investments within Indonesia. Moreover, the implementation of various structural reforms, particularly in terms of ease of doing business, as specifically addressed under the Job-Creation Law, is to be accelerated so that investments will be able to rapidly boost high-quality economic growth within the country.
- Finally, the Minister of Finance has stated that through the risk-based OSS, business actors will more easily be able to secure business licenses. Indeed, business actors that draw up statements affirming that their businesses are of the small- and medium-scale type and are characterized by low levels of risk will be able to enjoy the automatic issuance of their business licenses without their having to meet any further requirements. (KEMENKEU)
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