What has been agreed so far in Indonesia's flagship jobs bill?

The process for investment permits for provinces and local governments will be standardised, with the central government able to take it over in some cases.

The central government will take over the procedure for investment permits to projects considered of national strategic importance.

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Soverein Wealth Fund

The bill lays the foundation for the formation of a Sovereign Wealth Fund.

Land Bank

The government can set up a land bank and manage this to acquire land for public interest and redistribute the land.

Negative Investment List

The bill paves the way for reforms of the so-called "negative investment list" of sectors in which foreign participation is restricted or limited.

A separate government regulation will detail the sectors to be opened up. Ministers have said that after passage of the bill, only a handful of restricted sectors will remain, such as gambling, arms and narcotics.