On 16 June 2023, the Government introduced a new risk management provision through the enactment of Presidential Regulation Number 39 of 2023 on National Development Risk Management (PR 39/2023). The application of National Development Risk Management will include all risk management in national development by pertinent entities that manage state finances and is expected to support the achievement of national development targets, as well as to improve the quality of state governance. As one of the implementing provision, PR 39/2023 establishes the National Development Risk Management Committee which is led by the Minister of National Development Planning. Find out more our insights about this topic in our Legal Brief publication.