OMNIBUS LAW IN ECONOMIC DEVELOPMENT CONTEXT IN INDONESIA

One of the objectives of the state contained in the Preamble to the 1945 Constitution is the achievement of the welfare of the Indonesian people. For this reason, the foundation of the Indonesian economy needs to be strengthened, one of which is by attracting investors to the maximum possible investment in Indonesia. The entry of investment in Indonesia is expected to encourage the creation of employment opportunities to the fullest extent for all Indonesian people. There needs to be innovation from the Government to attract investors. The problem in writing this paper is how is Omnibus Law in the context of Indonesia’s economic development? Legal reform in the concept of the Omnibus Law to increase investment in Indonesia must be carried out effectively and accountably. Omnibus Law in its instrumentalist-democratic understanding, that on the one hand can be used as a “tool†and oriented to the fulfillment and strengthening of long-term oriented rule of law while creating a sustainable participatory democracy-climate. In the instrumentalistdemocratic understanding, the legal tradition of law (common law and civil law) is not seen as a separate system. Due to the fact, the two traditions have long borrowed from each other experiences (conventions), concepts, and practices of constitutional borrowing. Omnibus law can play an effective role in reducing disharmony and norm conflicts in legislation, but on the other hand also has democratic legitimacy that is accountable through public testing mechanisms and broad public participation and is carried out with the precautionary principle. In order to guarantee the principle of prudence in the formulation of legislation, the Omnibus Law must be formulated by first making efforts to consolidate norms, conceptual definitions, and determine the subject who will carry out the Omnibus Law