The year 2023 is expected to see the introduction of several draft bills and regulations capable of accommodating the future development of Indonesia, as well as maintaining an ordered society across the country. Most of the regulations which are expected to be issued this year are intended to maintain economic growth amidst significant global volatility and challenges. In this regard, stakeholders are encouraged to do their part by closely monitoring the progress of the promulgation of these new draft bills and regulations, particularly the draft bills that are listed under the Priority Prolegnas 2023.

Many regulations were issued throughout 2022 and embraced new developments within various business sectors and in terms of public order within Indonesia. In order to offer some insight into these developments, Hukumonline summarized, analyzed and highlighted approximately 1,144 regulations this year as a part of its daily Indonesia Legal Brief (ILB), weekly Indonesia Law Digest (ILD) and Monthly Law Review (MLR) publications

Aside from lands with the land titles of Right to Use and the Right to Lease, foreign citizens who have already secured immigration documents may acquire residences in Indonesia

The recently-passed Bill on Criminal Law Code has now added regarding corporate crimes, crimes of contempt towards the government and state institutions, obstruction of court processes, as well as several special crimes that were previously addressed under separate laws. The 3 years transition period shall provide opportunity for the public to submit for judicial reviews of provisions set under the Bill which they believe to violate Indonesias applicable legal and human rights frameworks

Despite conceding that it has lost in relation to this conflict, Indonesia has publicly affirmed that it will submit an appeal against the WTO decision

Easy requirements have been introduced under the circular for foreign citizens who wish to apply, including possession of a passport that has a remaining validity period of at least 36 months and proof of funds (belonging to the applicant or a guarantor) amounting to at least Rp. 2 billion or other foreign currency equivalent thereof

As the G20 Summit is concluded, Indonesia has made a commitment on the development of a Digital-Based Economy. This, along with the deliberation of the Draft Bill on the Development and Strengthening of the Financial Sector and the Commitment, has charted the course for the future implementation and regulation of digital currencies in Indonesia in the form of CBDC and Crypto-Assets.

In response to the recent spike in the number of AKI cases among children in Indonesia, mitigation, liability and efforts to prevent the emergence of future cases must be seriously taken into consideration

The Draft Bill contains several notable provisions, which include, among others provisions on crypto-assets in relation to ITSK and the introduction of main accounts and additional accounts for the deposit of the old-age insurance contributions of JHT participants

As we are currently facing a potential global economic crisis triggered by rising inflation, a recession and unstable geopolitical conditions, the development of the Draft Bill by the DPR could just be the remedy needed by Indonesia in order to maintain its economic stability. With the aim of reforming the financial sector, certain provisions that feature under the Draft Bill may be relevant to efforts to mitigate the risks associated with economic crises, such as the institutional rearrangements set for BI, the LPS, the OJK and the KSSK, leniency in relation to certain areas (e.g. the removal of the deadline for spin-offs of sharia business units into sharia commercial banks), the accommodation of digital technologies, as well as the introduction of new agencies/programs.