The Minister of State-Owned Enterprises in Indonesia has issued the BUMN Omnibus Regulations, consolidating and integrating over 45 ministry-level regulations to synchronise the regulations pertaining to state-owned enterprises. The regulations aim to support the integrated and sustainable management of these enterprises. The BUMN Omnibus Regulations consist of three ministry-level regulations, covering special assignments and environmental social responsibility programmes of state-owned enterprises ("Regulation 1/2023"), guidelines for governance and significant corporate activities of state-owned enterprises, and state-owned enterprise organisation and human resources.
The first regulation, Regulation 1/2023, focuses on special assignments of state-owned enterprises and introduces new provisions. It outlines the planning, government's determination, implementation, and reporting aspects of special assignments. It also addresses the environmental and social responsibility programmes, including micro and small business financing. The regulations provide clarity on the legal form of special assignments and introduce reporting obligations for state-owned enterprises.
These regulations aim to enhance the management and accountability of state-owned enterprises and promote their role in supporting economic development and social welfare. They provide guidance for state-owned enterprises and their subsidiaries, helping them navigate their special assignments and fulfil their environmental and social responsibilities.
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