SMEs empowerment to be integrated in Omnibus Law: minister

“The empowerment of cooperatives and MSMEs (Micro, Small and Medium Enterprises) will be integrated with job creation in a law,”

Jakarta (ANTARA) – The cooperatives and small and medium enterprises sector will be integrated in one law through the Omnibus Law in connection with the creation of jobs, Cooperatives and Small and Medium Enterprises Minister Teten Masduki stated.

“The empowerment of cooperatives and MSMEs (Micro, Small and Medium Enterprises) will be integrated with job creation in a law,” Minister Masduki noted in Jakarta on Monday.

He explained that the unification aimed at the mutual integration of the two programs both in terms of Small and Medium Enterprises (SMEs) and job creation. However, in practice, some form of exemption is necessitated for some regulations.

“Hence, we only need exceptions. Several regulations for large and small businesses cannot be equated. This is for licensing, certification, and others,” the minister pointed out.

To this end, he stressed that in future, one law would be in place through the Omnibus Law in a bid to simplify regulations.

Several regulations are overlapping or repetitions of the previous ones.

President Joko Widodo (Jokowi) had earlier alluded to making a legal concept called Omnibus Law in his first speech after his appointment as president of the Republic of Indonesia for the 2019-2024 term, Sunday (10/20/2019).

President Jokowi stressed that regulations will be simplified through the Omnibus Law.

According to the plan, President Jokowi will invite the House of Representatives to draft two major laws: the Employment Creation Act and the SMEs Empowerment Act.

Omnibus Law is a law created to target key issues plaguing a country.

Source: ANTARA News