Govt. Regulates Management of State Infrastructure by Business Entities

In a bid to strengthen the synergy between government and business entities as regards infrastructure financing needs, the president has issued Regulation of the President No. 32 of 2020 on Infrastructure Financing through Limited Management Rights (“ Regulation 32/2020 ”). This new regulatory framework addresses the limited management of state-owned assets (barang milik negara– “ BMN ”) and the assets of state-owned enterprises (badan usaha milik negara– “ BUMN ”) by business entities appointed by the respective contracting agency (penanggung jawab proyek kerjasama– “ PJPK ”), specifically the following parties: [1]