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Jakarta Post

Govt still aiming for 40th spot on EODB index

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, February 22, 2019   /   12:13 pm
Govt still aiming for 40th spot on EODB index Law and Human Rights Minister Yasonna Hamongan Laoly (kompas.com/Kurnia Sari Aziza )

The government is working to achieve its target of ranking 40th on the World Bank’s ease of doing business (EODB) index to attract more investors to the country.

Indonesia dropped one rank from 72nd to 73rd in the Doing Business 2019 report, which was published on Oct. 31, 2018.

The Office of the Coordinating Economic Minister held a meeting on Thursday with the Law and Human Rights Ministry to identify those regulations that were unfriendly to investments, covering both government and regional regulations.

Law and Human Rights Minister Yasonna Hamongan Laoly stressed that all relevant parties needed to make a concerted effort to improve Indonesia's rank on the EODB index.

“It seems that we have to revise a number of laws and supporting regulations,” he said after the meeting, as quoted by kontan.co.id.

Yasonna added that the regulation on property ownership and the Bankruptcy Law on were among those that needed revisions.

Coordinating Economic Minister Darmin Nasution said that revising laws would take time, because the government had to seek approval from the House of Representatives. What the government could do now was to improve procedures to accelerate permit arrangements for investors.