It's Time! Business Entities May Now Initiate Management of State-owned and/or BUMN-owned Assets

In 2020, the government issued Regulation of the President No. 32 of 2020 on Infrastructure Financing Through Limited Management Rights (“Regulation 32/2020”). As its title suggests, Regulation 32/2020 primarily established various prerequisites that specifically relate to the optimization of state-owned assets (Barang Milik Negara – “BMN”) of relevant governmental ministries or agencies (Kementerian atau Lembaga – “K/L”) and/or the assets of state-owned enterprises (Badan Usaha Milik Negara – “BUMN”) through limited management rights (“Asset Management”).[1] It should be noted that Regulation 32/2020 was previously analyzed in the following edition of Indonesian Legal Brief (“ILB”): “Govt. Regulates Management of State Infrastructure by Business Entities”.