• OJK Changes Regulation for Foreign Workers in the Banking Sector

    OJK Changes Regulation for Foreign Workers in the Banking Sector

    Indonesia’s financial authority, the OJK, has recently issued regulation no. 37/POJK.03/2017 on the Employment of Foreign Workers and Knowledge Transfer within the Banking Sector (New Regulation). The New Regulation replaces Bank Indonesia regulation number No. 9/8/PBI/2007 on the Employment of Foreign Workers and the transfer of knowledge program Within the Banking Sector. In this column we discuss the available job titles for foreign workers, the application requirements and the transfer of knowledge program.

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  • Retirement Allowance for Employees Entering Retirement in Indonesia

    Retirement Allowance for Employees Entering Retirement in Indonesia

    Currently, the retirement age in Indonesia is 56 years old. As of January, 2019, the retirement age is set to increase to 57 years old and after that gradually increase until 65 years old. When employees in Indonesia retire, they are allowed a certain amount of retirement allowance based on the Labor Law number 13 of 2003 on Manpower (Labor Law). In this column, we discuss in which cases employees are entitled to this retirement allowance and which deductions are available for companies. This column will not discuss the pension allowance and old age insurance from BPJS.

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  • What about Indonesia's Cement Market & Export Competitiveness

    What about Indonesia's Cement Market & Export Competitiveness

    Cement consumption in Indonesia grew 5.7 percent year-on-year (y/y) to 41.1 million tons in the January-August 2017 period (compared to the same period one year earlier). This can be labelled a rebound compared to bleak growth of 1.8 percent (y/y) and 1.6 percent (y/y) in 2015 and 2016, respectively. This year Indonesian cement demand could in fact reach 64 million tons.

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The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer
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