LEGAL ASPECTS AND POLICIES FOR INDONESIAN SMEs AFTER THE OMNIBUS LAW-CHALLENGES IN THE REGIONAL FREE TRADE
As an active developing country, the Republic of Indonesia plays a mammoth role in regional economic cooperation, inter alia, bilateral Free Trade Agreement, Free Trade under the ASEAN Economic Community (AEC), and even in the Regional Comprehensive Economic Partnership (RCEP). After enacting the omnibus law in 2007, the country has highlighted the protection and enhancement of the Small and Medium Enterprises (SEMs) environment. Nonetheless, the weak performance of SMEs and myriad FTAs in the country relatively generate confusing challenges. Hence, the purpose of the study is to analyse the Challenges of legal policies for SMEs to evoke a clear understanding for incoming improvement. Regarding the expected result of this study, the research was based empirically on analysis of primary and secondary data with considering surveys reported by some authors. Based on the finds, this paper examines holistically the treatment of SMEs under domestic regulations related to SMEs` regulations under regional FTAs, and further to Challenges of SMEs in Indonesia in the regional Free Trade despite the enactment of the Omnibus law and other legal aspects. Expressly the research found the challenges are arisen due to volatility of domestic system and regional (international) issues.