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Jakarta Post

Govt launches 16th economic package to boost investment

  • Winny Tang

    The Jakarta Post

Jakarta   /   Thu, August 31, 2017   /   01:16 pm
Govt launches 16th economic package to boost investment Coordinating Economic Minister Darmin Nasution (JP/Wienda Parwitasari)

The government on Thursday launched its 16th economic policy package in a bid to facilitate business activity and lure more investment to the country.

The policy aims to speed up the issuance of business permits while providing greater certainty on the cost and time involved and to improve coordination between ministries and provincial administrations.

“This policy’s goal is to solve obstacles in the implementation process and to use information and technology through the implementation of an integrated licensing system (single submission),” Coordinating Economic Minister Darmin Nasution said at the Indonesia Stock Exchange during an event attended by President Joko “Jokowi” Widodo.

Read also: New policy package to be issued within week: Minister

He explained that the acceleration of business processes would be implemented in two stages.

The first stage includes the formation of task forces to implement business licensing processes and to oversee the application of licensing checklists at special economic zones (KEK), free-trade zones (FTZ) industrial and tourism areas using data sharing.

The second stage includes regulatory reforms and the single-submission system.

Regarding the single-submission system, Jokowi said the government would construct a building next year to manage all kinds of business permits.

“In February, next year, at the latest, we will have one building specially designated for [business] permit issuance. Every kind of permit will be taken care of in that one building,” the President explained. (bbn)