Updates on Regulations covering Limited Liability Company (BUJK PMA)
In 2022, Indonesia's economy grew despite global challenges, with the construction industry contributing significantly to its Gross Domestic Product (GDP). This year, the industry is expected to continue its positive momentum and play a major role in the national economy due to ongoing infrastructure projects following the pandemic.
In line with the Indonesian government's priority agenda of infrastructure development, the regulatory environment for foreign companies seeking to start or renew construction projects in Indonesia has been relaxed.
The updated policies for BUJK PMA regulate seven key requirements that must be met to obtain business permits, including the Compabt Net Worth, ISO, Annual Sales Head of Engineers, Engineers, Business Entity Certification, and Equipment Requirements. Download the full guide to see how all the regulations have been revised.
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Updates on Regulations covering Foreign Construction Representative Office
“Despite the adverse global conditions, Indonesia has consistently exhibited positive sentiment in relation to its Gross Domestic Product (GDP) for the year 2022. Specifically, the GDP for QII-2022 experienced growth of 5.44% compared to QII-2021 (year-on-year). Furthermore, the construction industry played a significant role in GDP contribution, accounting for 9.45% in Q3-2022.
… In light of the government's official announcement of the relocation of the capital city from Jakarta to Nusantara, and an increased need for infrastructure to support this move, the Minister of Public Works and Housing has announced a work plan for 2023 which focuses on the development of first-rate infrastructure to support national development. In support of this initiative, the regulations for foreign companies seeking to start construction projects or renew permits in Indonesia have been relaxed."
Seven key elements are required to obtain business permits for BUJKA have been revised to escalate the growth of the construction industry. We have prepared a comprehensive business guideline exclusive to the construction sectors to clarify the written policy and its practices.