Indonesia believed that they are on the right track to economy recovery and cited the recent successful launch of their Indonesia Investment Authority. The investment authority is the country’s sovereign wealth fund organisation. The creation of the sovereign wealth fund would serve as the primary vehicle for global investors to invest into the many upcoming projects in Indonesia. They hoped that the sovereign wealth fund would help to attract more foreign direct investments into the country and that would play an important role in bettering the lives of many Indonesians.
Apart from this initiative, Indonesia also believed that they could embark on another pathway to improve their economy, that is to strengthen their Copyright Act. The government believed that by having right and proper structural reforms to the current Copyright Act, it would greatly improve the job markets by creating more and new job openings. The reforms would also help to simplify regulations and perhaps to the extent of even reducing corruption.
Indonesia believed that this decision would help to create an entirely new economic space and unlock gridlocks in many areas such as law enforcement, government administration, land control, government investment, facilitation of special economic zones and improve the ease of doing business too.
Copyright law of Indonesia is set out in the Copyright Act, namely, current, Act No. 28 of 2014. In law, the notion of copyright is “the exclusive rights for the creator or the recipient the right to publish or reproduce the creations or give permission for it by not reducing the restrictions according to the laws and regulations that apply” (Article 1, point 1). Copyright Act of Indonesia has been amended in 1987, 1997, 2002, and 2014.
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