Government Issues New Guidelines and Procedures for the Supervision of Risk-Based Business Licensing

As mandated under Regulation of the Government No. 5 of 2021 on the Organization of Risk-Based Business Licensing, [1] the Investment Coordinating Board (Badan Koordinasi Penanaman Modal– “ BKPM ”) has finally issued Regulation No. 5 of 2021 on Guidelines and Procedures for the Supervision of Risk-Based Business Licensing (“ Regulation 5/2021 ”). [2] In a hope of providing greater legal certainty for various parties in terms of the supervision of risk-based business licensing, the new guidelines and procedures that are set out under Regulation 5/2021 update, repeal and replace Regulation of the BKPM No. 6 of 2020 on Investment Control Guidelines and Procedures (“ Regulation 6/2020 ”). [3]