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The Tri Hita Karana Forum Partners Dialogue: “Indonesia Omnibus Law for a Better Business Better World” was held virtually on 30 November 2020 which brought together more than 230 senior executives from 30 countries representing multi multinational corporations from across industry sectors, financial institutions, investors and civil society for an open conversation with the Government of Indonesia.
Indonesia’s Omnibus Law has captured worldwide interest with particular attention on the environment. The Law does not change Indonesia’s environmental standards nor rolls back environmental gains in areas such as reducing deforestation. Rather, the focus of the Law is on the investment licensing process and how best Indonesia can realize investment consistent with its ambitious environmental goals.
The Forum provided an opportunity for a deep dive discussion covering issues related to environment, job creation, investment climate, and taxation. The Tri Hita Karana Forum Partners Dialogue was held with support from THK partners International Chamber of Commerce (ICC), UN SDSN, United In Diversity Foundation, KADIN and APINDO.
The event moderated by Endy Bayuni, Senior Editor of The Jakarta Post, opened with welcome remarks from H.E. Luhut B. Panjaitan, Coordinating Minister of Maritime Affairs and Investment and Paul Polman, Co-Founder and Chair, IMAGINE; Honorary Chair, International Chamber of Commerce (ICC) to followed by Ministerial Briefing from H.E. Lestari Moerdijat, Vice Chairman MPR (People Consultative Assembly), and H.E. Siti Nurbaya Bakar, Minister of Environment and Forestry.
“It is undeniable that the Job Creation Law has reaped public pros and cons. Therefore, intensive communications and socialization of the benefits of the law is necessary” said H.E. Lestari Moerdijat, Vice Chairman MPR (People Consultative Assembly).
A short Tri-Sector perspectives were shared by Lord Nicholas Stern, IG Patel Professor and Chair, Grantham Research Institute on Climate Change and Environment, London School of Economics/ NCE, Jorge Moreira da Silva, Director, DCD OECD, Satu Kahkonen, Country Director Indonesia and Timor Leste, World Bank , John Denton. Secretary General, International Chamber of Commerce, Richard Jeo, Senior Vice President Asia, Conservation International.
Jorge Moreira da Silva, Director of DCD OECD said “But let me focus on the on the role of the Tri Hita Karana blended finance roadmap. We have been working on this with other partners in this call as an important international framework for mobilization of additional commercial capital towards the SDGs”
H.E. Sofyan Djali, Minister of Agrarian and Spatial Planning, Republic of Indonesia ended the session with a closing remarks.
He said “This Omnibus law is to create better business environment, to make invest regulation, to make investment easier, and then also to facilitate especially for small and medium enterprises to flourish”.
United in Diversity | Building Trust for Our Common Future | OVERVIEW
