As a tool to execute the ease of doing business in Indonesia, the Indonesian Minister of Transportation has enacted the Ministry of Transportation issued Minister of Transportation Regulation No. 64 of 2020 regarding Revocation of Minister Transportation Regulation No. PM 45 of 2015 regarding Capital Ownership Requirement in the Transportation Sector (“MoT 64/2020”).
To increase the investment to Indonesia, the MoT 64/2020 is issued to revoke the minimum capital requirements in the marine transportation business sector. This is an exiting news for business climate, as well as the investors who are interested to invest in this sector.
Our Senior Associate, Stefanny Oktaria Simorangkir, and Associate I Ketut Dharma Putra Yoga from Practice Group Shipping & Aviation, International Trade, and Insurance & Re-Insurance, outline the changes made by the MoT 64/2020 and how they are to be implemented on this Legal Alert.
If you have any questions on this matter, please contact us at [email protected]