In April 2022, the Vice President of Indonesia, Ma’ruf Amin, publicly stressed the importance of IP protection, and emphasised the need to create a National Intellectual Property Strategy to boost economic growth and development. He also highlighted the need to continue to develop the IP protection for domestic MSMEs, especially...

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In April 2022, the Vice President of Indonesia, Ma’ruf Amin, publicly stressed the importance of IP protection, and emphasised the need to create a National Intellectual Property Strategy to boost economic growth and development. He also highlighted the need to continue to develop the IP protection for domestic MSMEs, especially in the innovation sector. In related news, to boost the national economy through intellectual property, in July 2022 the government introduced a new regulation, GR 24/2022, regarding IP financing. According to GR 24/2022, IP assets from creative economy subsectors – such as publishing, fashion, music or photography – can now be used as collateral to obtain financing from banks and non-bank financial institutions. The value of the assets must first be established by an IP appraiser licensed by the Ministry of Finance, or a valuation panel.

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