The Privilege of The Indonesia Investment Authority in Indonesia Omnibus Law on Job Creation

Abstract

Abstract Economic globalization has an impact on the dynamics of adjusting the legal rules established in Indonesia. One of them is the legal unification format called the Omnibus Law on Job Creation. The Omnibus Law on Job Creation collects laws related to development and investment. The new thing in this law is the formation of a new institution called the Sovereign Wealth Fund. Various privileges are given to an institution called the Indonesia Investment Authority (IIA), ranging from not being held accountable for a loss to being audited only by a public accountant. This article discusses how laws and regulations build the construction of the Sovereign Wealth Fund Indonesia. The main problem that was analyzed is how the position of the Sovereign Wealth Fund in the structure of the Indonesian state institutions, besides that, it also discusses the issue of the authority and responsibility of the Sovereign Wealth Fund as well as the privileges provided by laws and regulations. All of these issues be the scope of discussion that provide an overview of Indonesia's Sovereign Wealth Fund. The discussion was conducted using a normative juridical method through qualitative analysis using a statutory approach and legal philosophy approach. The inductive conclusion is expected to provide input in strengthening IIA construction so as not to get demands for discriminatory treatment by other state institutions, and the goal of being established by the IIA to accelerate national economic development can be realized. Keywords: Privilege, Indonesia Investment Authority, Omnibus Law on Job Creation, Sovereign Wealth Fund.