TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

OSS attracts investors’ interest: Darmin

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Mon, June 18, 2018   /   08:39 am
OSS attracts investors’ interest: Darmin Coordinating Economic Minister Darmin Nasution answers a journalist's question at the Indonesia Sharia Economic Festival in Surabaya on Oct. 27. (JP/Anton Hermansyah)

The government’s online single submission (OSS) system, which aims to cut red tape surrounding the business licensing process in Indonesia, has piqued the interest of a lot of investors, says Coordinating Economic Minister Darmin Nasution.

“There are a lot of big investors who expressed their desire to be the first [investor] to use [the OSS],” he told reporters at an Idul Fitri open house at his official residence over the weekend.

Darmin added that the launch of the system was one of his main priorities after the Idul Fitri holiday, which ends on Wednesday.

“We are working hard so that the OSS would be launched after Idul Fitri. It depends on the President’s [Joko ‘Jokowi’ Widodo] schedule [to launch OSS],” he said.

Previously, the Office of the Coordinating Economic Ministry had requested an additional Rp 53.33 billion (US$38.36 million) from lawmakers to develop the OSS and to continue reforming the business licensing process.

The budget is needed because the ministry is set to take over the operation of the system from the Coordinating Investment Board (BKPM) for an additional six months because the latter needs time and an extra budget to set up the required human resources to run it.

The implementation of the OSS is seen as a key step for Indonesia to further increase its World Bank Ease of Doing Business (EODB) ranking, which Jokowi ambitiously said would be 40th in 2019.

Indonesia was ranked 72nd last year, rising 19 places from 91st position. It, however, still lags behind its regional peers. Thailand and Malaysia, for example, are ranked 26th and 24th, respectively. (dwa)