Jakarta, FORTUNE - The government will integrate all licensing\nprocesses in the financial sector, encompassing both banking and\nnon-banking, into the Risk-Based Online Single Submission (OSS-RBA)\nsystem. This strategic move aims to improve the accuracy of national\ninvestment realisation data and ensure its contribution aligns with\neconomic growth.<\/p>\n
The announcement was made by Deputy Minister of Investment and\nDownstreaming, Todotua Pasaribu, in Jakarta on Thursday (3\/7). He stated\nthat the Ministry of Investment is finalising an agreement with the\nFinancial Services Authority (OJK) as a follow-up to the implementation\nof Government Regulation (PP) Number 28 of 2025.<\/p>\n
According to Todotua, investment data from the financial sector has\nnever been properly recorded in the national monitoring system, creating\nbias in investment realisation data.<\/p>\n
\u201cApproximately one to two weeks ago, we met with the OJK Chairman. We\nexplained the importance of consolidation so that the financial sector\ncan be incorporated into OSS. Until now, financial industry data has\nnever appeared in investment realisation figures, even though this\nsector is extremely important,\u201d said Todotua.<\/p>\n
The integration is considered crucial for bridging the gap between\ninvestment target achievements and the pace of economic growth. \u201cWe need\nto see this clearly. We cannot have investment targets being met whilst\neconomic growth remains stagnant. Therefore, consolidation through OSS\nbecomes highly strategic,\u201d he said.<\/p>\n
Todotua added that the response from OJK leadership has been very\npositive and an agreement is expected to be reached in the near future.\nHe also affirmed that the government will continue to encourage other\nsectors not yet fully integrated so that OSS truly becomes a unified\nplatform for services and policy analysis.<\/p>\n
This integration initiative is grounded in PP Number 28 of 2025 on\nthe Implementation of Risk-Based Business Licensing, which replaces PP\n5\/2021. The new regulation strengthens the risk-based licensing approach\nand introduces the \u201cfictitious positive\u201d principle, whereby licence\napplications are deemed approved if there is no response from the\nauthority within the stipulated timeframe, thereby providing legal\ncertainty.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/government-to-integrate-financial-sector-licensing-into-oss-risk-based-system-1771252118", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }