Overview

As a follow-up to the first part of this two-part edition of Indonesian Law Digest (“ILD”) on the State-Owned Enterprises (Badan Usaha Milik Negara – “BUMN”) Omnibus Regulation, which specifically discussed various new provisions addressed under Regulation of the Minister of BUMN (“Minister”) No. PER-1/MBU/01/2023 on BUMN Special Assignments and Social and Environmental Responsibility Programs and Regulation No. PER-3/MBU/03/2023 on BUMN Organization and Human Resources, this second part offers a comprehensive analysis of the provisions that have been newly introduced under Regulation No. PER-2/MBU/02/2023 on Guidelines for the Governance and Significant Corporate Activities of BUMN (“Regulation 2/2023”), which encompasses 229 articles spanning 11 chapters and which has been in force since 24 March 2023.[1]