Under Law No. 11 of 2020 on Job Creation (Omnibus Law), which came into force on 2 November 2020, the government is mandated to promptly issue implementing regulations of the Omnibus Law. To have Indonesia’s sovereign wealth fund (Lembaga Pengelola Investasi or LPI) up and running, the government has issued two government regulations on LPI. The first one1 is on state participation in LPI’s capital, and the other one regulates governance and operational matters of LPI.2
With the required government regulations already in place, LPI, which may also use the name “Indonesia Investment Authority” or INA, is expected to commence its activities within Q1 2021.
To see our previous client alert on LPI, please click here.