An Introduction to Doing Business in Indonesia 2022, the latest publication from Dezan Shira & Associates is out now and available for download through the Asia Briefing Publication Store. After gaining independence in 1945, Indonesia experienced rapid industrialization during the 1970s on the back of strong oil exports before labor-intensive industries became the new engine of growth in the late 1980s. This economic growth came to a sudden halt at the onset of the 1997-1998 Asian financial crisis. Since the crisis, the country has implemented sound fiscal policies and political reforms, which have reduced public debt and improved the investment climate. The government has vowed to continue implementing prudent macroeconomic policies and structural reforms and issued the Job Creation Law in October 2020, also known as the Omnibus Law. The Omnibus Law amends some 75 current laws and aims to stimulate domestic and foreign investment by removing bureaucratic inefficiencies, simplifying business licensing requirements, and liberalized more industries. This publication, designed to introduce the fundamentals of investing in Indonesia, was compiled by the experts at Dezan Shira & Associates, a specialist foreign direct investment practice, providing corporate establishment, business intelligence, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. | 