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The government has issued a draft of a new omnibus law, which addresses various issues, as we have discussed in our previous client alert here.

This client alert covers specific proposed key changes and implications in healthcare/life science and trade sectors set out in the draft of the job creation law (Draft).

It remains to be seen how the government will implement the proposed efforts to make investing in Indonesia easier and the proposed liberalization of foreign investment restrictions here in the aforementioned sectors.

Implications for healthcare/life science and trade sectors

The affected regulations from healthcare/life science and trade sectors are:

(a) Law No. 36 of 2009 on Health
(b) Law No. 44 of 2009 on Hospitals
(c) Law No. 5 of 1997 on Psychotropics
(d) Law No. 35 of 2009 on Narcotics
(e) Law No. 33 of 2014 on Halal Product Assurance
(f) Law No. 18 of 2012 on Food
(g) Law No. 7 of 2014 on Trade
(h) Law No. 2 of 1981 on Legal Metrology
(i) Law No. 20 of 2014 on Standardization and Assessment of Compatibility

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Author

Mita Djajadiredja is a senior partner in the Mergers & Acquisitions Practice Group and the key contact for Technology, Media & Telecommunications in Indonesia. She has more than 20 years of experience in M&A and private equity, as well as corporate alliances, including joint ventures, shareholder agreements and strategic business alliances. Mita advises a wide range of domestic and international clients across various industry sectors, including real estate, insurance, finance, manufacturing and trading.

Author

Wimbanu Widyatmoko is a senior partner in Mergers & Acquisitions Practice Group. He has experiences in handling various legal corporate/commercial issues, corporate Indonesian tax and international tax planning on inbound and outbound investment. Wimbanu has been consistently ranked as a leading lawyer by leading legal directories, such as Chambers Asia, Asia Pacific Legal 500, AsiaLaw Profiles and International Tax Review for several years.

Author

Cahyani Endahayu is a partner in the Mergers & Acquisitions Practice Group. Her work includes handling the corporate/licensing, compliance and day-to-day work of several of the Firm’s major clients and providing corporate, compliance and advisory support services to other clients in relation to corporate/commercial issues. She has advised a wide range of domestic and international clients across various industry sectors, including pharmaceutical and retail/trading.