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Red tape, corruption undermine foreign businesses’ confidence: Report
Corruption remains a challenge, with 71 percent of respondents citing corruption as a key barrier.
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The Gelora Bung Karno stadium is seen next to Jakarta's Sudirman Central Business District (SCBD) on Aug. 18, 2018, ahead of the Asian Games. (AFP/Bay Ismoyo)
F
oreign companies have voiced ongoing concerns regarding the persistence of corruption and bureaucratic hurdles that undermine their confidence in conducting business in Indonesia.
That is according to the 2024 International Business Confidence Index (BCI), which aimed to capture the issues hindering foreign businesses operating in Indonesia.
“Corruption remains a challenge, with 71 percent of respondents noting corruption as a key barrier,” the United Kingdom trade commissioner for Asia Pacific, Martin Kent, said on Tuesday during the report’s launch.
“Bureaucratic inefficiency was one of the biggest challenges affecting businesses, with 70 percent respondents noting that bureaucratic inefficiency was a key barrier,” Kent added.
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The BCI report is an annual business-to-business (B2B) survey conducted by the British Chamber of Commerce (Britcham) in Indonesia in partnership with market research firm NielsenIQ.
The survey, which polled 90 foreign companies, revealed that over half of respondents were considering additional investment in Indonesia within the next two years, while 19 percent expressed no such intention.
