Omnibus: Do We Believe It Will Be Passed Into Law, Or Not?

Omnibus: Do We Believe It Will Be Passed Into Law, Or Not?

Photo by Ron Smith on Unsplash.

As you all know, I am always utterly positive, even in these corona madness times. It’s a mindset thing, possibly also a so-called “worldview” that is impossible to change even with facts. I explain this to people when I meet them either privately or in various seminars, that something went “wrong” in my head at some stage. Because even though I stand 196cm tall, weigh about 99,9kg with Viking blood running through my veins, I hear, see and feel like an Indonesian.

Perhaps because I have been here for, give or take 27 years, or maybe because I enjoy eating durian and all kinds of Indonesian food (not wild animals though). I believe this gives me a unique viewpoint to understand Indonesia as an Indonesian. Therefore, I comprehend what goes on in a different way. I analyze Indonesia based on their mindset, culture, law, and emotions. And not through a tedious western university political/financial analytical view. Don’t get me wrong, that’s all good and valuable, but I can dig more in-depth as to what is really happening, why, and for what purpose.

I believe strongly in Omnibus Law and now recently announced a few other supporting regulations that would consist of 36 government regulations and seven presidential decrees. I post actively on social media and often see disbelief in changes, or at least drastic changes. I understand some of these aspects are based on negative experiences and such. But there are some I don’t understand, and to me, seem to be based on less factual opinions. I respect them all and take it in and enjoy the conversations we have around it. Hence why I’ve decided to list below a few key facts as to why I personally believe in it.

One of the main reasons why I think it will go through is because President Jokowi controls about 70% plus of the DPR (National Assembly).

In the last 4-5 months, we have also seen sizeable international investment companies and press expressing optimism towards Indonesia and the on-going Omnibus law process.

I was then made aware of a recent copy of Forbes Magazine.

Which, by the way, was a special edition of 30 under 30, and those stories in itself were from Indonesian entrepreneurs. (I think would help to change most people’s view, but that’s another story.) What got my attention was a few articles. First was by Editor in Chief of Forbes Indonesia Pak Taufik Darusman.

He grades Jokowi’s first 100 days of his second term as “moderately promising.” His view is based on Jokowi’s commitment to continue to develop infrastructure, second his on-going overhaul of nationally owned companies in Indonesian called BUMN. And third, his belief that the Omnibus law will indeed pass. As part of Omnibus Law, he talks about the tax benefits coming as well.

Steve Forbes, Editor-in-chief of Forbes international, is talking in general terms as to how important it is for any country to open up for international trade and not shut down as we see happening in the US. He also brings up a few examples of what he referred to as “parochial protectionism” being well-meant but misplaced.

The magazine also has a brief of Indonesian Mari Elka Pangestu, who is a newly appointed as Managing Director in WB to run development and policy partnership department. The news about Changi Consortium soon to take over Komodo Airport. A few significant investments from the UAE and Japan’s SoftBank.

Raj Kannan from Deloitte has an excellent article about AI, and Indonesia’s road map to attract investors in this business and concluding with most companies would want to enter Indonesia sooner rather than later due to its massive market potential.

Jennifer Xue writes about the green new deal and a future of uncertainty. She praises Indonesia’s central government for working hard but sees a lot of resistance at the provincial and regency level. This is a topic in itself for Omnibus and how the central government will manage all permits and regulations (also green policy).

MD of JLL Indonesia and Iwan Margono from EY share their views from a real estate and banking perspective and both being moderately positive.

The magazine has then 30 under 30 as Indonesia’s young achievers. Most of their success in business is within AI, Fintech, Eco, and sustainable business.

I have said it before and saying now again, Indonesia is on the move, and more than just gaining momentum. So yes, I believe that Omnibus will go through.

————————————————————————————————

Seven Stones Indonesia is a dynamic group of professional and experienced consultants, advisors and realtors who genuinely want to help people with their investment needs in Bali and Indonesia.

Our vision is to create an ethical company that focuses on doing good … then doing well. For us, this means doing good, honest business. It’s an ethos, which creates a culture of trust, honesty and integrity among our team, our clients and our business partners.

We believe in modeling our business around the concept of a greater good to enhance the lives of the people around us. We encourage success and we actively support like-minded souls on their missions.

Seven Stones Indonesia offers a wide range of Legal Advice and Marketing Services and Investment Management opportunities. We aim to be your partners in growth.

For more information visit www.sevenstonesindonesia.com or email hello@sevenstonesindonesia.com

#sevenstones #sevenstonesindonesia #ethicalbusiness #realestate #marketing #branding #legaladvice #consultants #investment #indonesiainvestment #investmentmanagement

Latest Article
Govt Allocates More Subsidies for Electric Motorcycles
According to reporting from Antara News, Dadan Kusdian, Indonesia’s Secretary General of the Ministry...
Netherlands Consider Easier Visas for Indonesians
Citing Antara News, Tempo is reporting that Indonesia and the Netherlands discussed strengthening consular...
Ministry to Implement KRIS at 3,060 Hospitals by 2025
Indonesia’s Health Ministry is targeting to get more than 3,000 national hospitals to implement...
Hospital-based Specialist Doctor Program Launched
Speaking at the launch of a hospital-based specialist doctor program on Monday (6/5/24,) Indonesia’s...
Indonesia Anticipates Prabowo’s Cabinet
Prabowo Subianto and Gibran Rakabuming Raka will be sworn in as the country’s new president and vice...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

[wpforms id=”43785″]

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.