Coordinating Minister Airlangga Brings Good News: The IDR 90 Trillion Investment Continues Even Though The Job Creation Law Must Be Revised

Coordinating Minister for Economic Affairs Airlangga Hartarto (Photo: Doc. Antara)

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto has ensured that domestic investment activities will continue even though the Constitutional Court (MK) considers the Job Creation Act unconstitutional and needs to be revised.

According to Airlangga, this is in accordance with the direction of the Head of State who asked the Court's decision not to interfere with productive activities in the country.

"Earlier, the President has conveyed and asked that there are several things that must be conveyed to the public, first is that the government continues to carry out the operationalization of the Job Creation Law in all sectors, both at the center and in the regions," he said in a press conference broadcast virtually, Monday, November 29.

Airlangga said that one of the things that the government pays attention to is investment activities by investors in Special Economic Zones (SEZs) which must continue to be implemented.

"Regarding the Special Economic Zones, four additional SEZs have been established with an investment commitment of around Rp90 trillion," he said.

In fact, he revealed that the investment plan is still flowing and is projected to have a positive impact on the absorption of the workforce.

"Currently the government has received various new investment commitments that will expand job creation," he said.

Furthermore, Airlangga also mentioned the implementation of the work of the Investment Management Agency (LPI) or the Indonesia Investment Authority, which was indeed present after the Job Creation Law was passed.

“The regulation on the implementation of LPI as an institution that is given special authority in the context of investment management has been regulated in the PP that was set before the Constitutional Court's decision. Therefore, the operationalization of LPI will continue in accordance with the Constitutional Court's decision," he explained.

Just so you know, the government has injected fresh funds into LPI amounting to IDR 30 trillion in cash and IDR 45 trillion in the form of share transfers to support the operations of this institution in attracting investors to be able to do business in Indonesia.