Minister of BUMN Introduces Omnibus Regulation on Good Corporate Governance and Significant Corporate Activities of BUMN

The Minister of State-Owned Enterprises (“Minister”) has issued three new regulations in an effort to simplify 45 previous regulations of the Minister. These new regulations are expected to enable State-Owned Enterprises (Badan Usaha Milik Negara – “BUMN”) to face global challenges and to ensure that they are not burdened by stagnant regulatory frameworks that shackle and disrupt company performance.[1] The three new regulations, which are collectively known as the BUMN Omnibus Law, break down as follows:[2]

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