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Economic deregulation package announced
Economic plans: President Joko âJokowiâ Widodo (center) announces a major economic deregulation policy with his ministers and staff backing him up at the State Palace on Wednesday
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Economic plans: President Joko âJokowiâ Widodo (center) announces a major economic deregulation policy with his minister backing him up at the State Palace on Wednesday. (kompas.com) (center) announces a major economic deregulation policy with his minister backing him up at the State Palace on Wednesday. (kompas.com)
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span class="inline inline-center">Economic plans: President Joko 'Jokowi' Widodo (center) announces a major economic deregulation policy with his ministers and staff backing him up at the State Palace on Wednesday. (kompas.com)
President Joko "Jokowi" Widodo announced the much-awaited economic deregulation policy package on Wednesday, aiming at boosting investment.
'The government is trying to remove obstacles so as to increase industry competitiveness through de-bureaucratization and [increasing] certainty for businesses,' Jokowi said, adding that the government would focus on three areas: boosting industry competitiveness, accelerating infrastructure projects and increasing investment in the property sector.
The government planned to review 89 regulations to avoid the duplication of business licensing procedures.
'Furthermore, we also drafted 17 government regulations and presidential regulations, two presidential instructions, 63 ministerial regulations and five other regulations,' the President said as quoted by kompas.com.
Jokowi said the deregulation policy was expected to be finalized at the end of this month and next month.
'This is the first [economic] package. It will be followed by a second and third,' the President said as quoted by kompas.com.
Jokowi announced the economic policy package at 5:45 p.m. with an entourage of ministers in tow, including Coordinating Economic Minister Darmin Nasution, Finance Minister Bambang Brodjonegoro, Trade Minister Thomas Lembong and many others.(edn)
