President Joko “Jokowi” Widodo stated on Wednesday that his administration will submit an omnibus bill on job creation to the House of Representatives this week as the government strives to attract more investment.

“This week, insya Allah [God willing], we will submit the omnibus bill to the House,” he said during his opening remarks at an Indonesian Young Entrepreneurs Association (Hipmi) event in Jakarta on Wednesday.

He said that by submitting the omnibus bill, the government proposed to lawmakers the revision of 74 laws.

“If we revise the laws one by one, it would take 50 years to revise them all, so we are submitting the omnibus bill. If the House can work on it quickly, this would be a big leap for our services to the people, businesses and small and medium enterprises that can contribute significantly to economic growth,” he said.

If passed, the bill will amend more than a thousand articles in prevailing laws, including the Labor Law, which has been blamed for hampering investment into the country. The bill is expected to improve Indonesia’s ease of doing business ranking, which in turn would attract more foreign investment and create more jobs.

During an opening statement in a limited Cabinet meeting at the State Palace in Jakarta later on Wednesday, Jokowi said he expected the bill’s deliberations to be completed within less than 100 business days.

Coordinating Economic Minister Airlangga Hartarto told reporters after the meeting the bill would consist of 11 so-called clusters, namely license procurement simplification, investment requirements, labor, protection and empowerment of micro, small and medium enterprises, ease of doing business, research and innovation support, government administration, sanctions, land procurement, economic zones and government investment and projects.

He said that, as of Wednesday afternoon, the government had identified 1,244 articles and 79 laws that would be revoked by the omnibus law.

“The number of articles in the omnibus bill is still being determined but it will be different than that of the annulled articles,” he said. (mfp)

Marchio Irfan Gorbiano contributed to the story