Indonesia promises speedier licensing, offers tax incentives
The Jakarta Post
Finance Minister Sri Mulyani Indrawati has said that the government will continue to reform its regulations and had offered incentives in an effort to boost investment, tempo.co reported.
Speaking on Monday in Jakarta, she said that the government would further eliminate regulations that could disrupt investment to help speed up the licensing process for investors.
Sri Mulyani added that the central government would coordinate closely with local governments to roll out reform packages that would, in the end, enable the government to set up a "single submission system" for all business and investment permits.
The single submission system is intended to ease the licensing process and significantly cut down the waiting period for businesses.
“When the single submission system is implemented, the coordination with local governments will become very important,” she said.
As for the incentives, she said, the Finance Ministry would cooperate with the Industry Ministry to simplify the process for providing tax holidays and tax allowances to investors.
President Joko Widodo has reminded his ministers and regional government heads several times to simplify the business licensure process to attract more investors to the country in the competitive global investment climate.
“If we delay, the funding will go to countries that already offer a better investment climate,” the President said on Monday during a Cabinet meeting at the Presidential Office. (bbn)
- List of moderate Islamic preachers needed: Scholar
- US warns Syria of 'firm' action over southern offensive
- Colombia to become first Latin American NATO 'global partner'
- Pair of Japanese premium melons sell for record $29,300
- New Terrorism Law no silver bullet, says rights researcher
- Two Koreas’ leaders hold second summit: Cheong Wa Dae
- Out of South Africa, reminiscing the indelible Eden
- Prisoners evacuated from flooded Pekalongan Penitentiary
- Police shut down illegal gold mines in Riau
- BREAKING: Indonesia passes stronger antiterrorism law