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Jakarta Post

Jokowi ready with bold reform agenda to lure foreign investment

  • Marchio Irfan Gorbiano and Rizki Fachriansyah

    The Jakarta Post

Jakarta   /   Mon, September 16, 2019   /  02:12 pm
The Jakarta Post Image
President Joko “Jokowi” Widodo meets with executives of South Korean automaker Hyundai at the Merdeka Palace on July 25. The government plans to implement a bold reform agenda to attract foreign investment amid fierce competition from neighboring countries.(Courtesy of Presidential Office/-)

The government is out to streamline its sprawling and infamously complicated regulations, as President Joko “Jokowi” Widodo looks to kick-start his second term with a bold reform agenda. Jokowi has given his ministers a month to identify and revise ministerial regulations deemed harmful to the country’s chances of attracting foreign direct investment (FDI) amid fierce competition from neighboring nations. Furthermore, he has also instructed his Cabinet members to resolve problems faced by multinational companies that have pledged to do business in the country, but are yet to realize their investments. The former Jakarta governor said that, while the government had made great strides in terms of improving Indonesia’s investment climate, more could still be done to put the country in a more competitive position against its peers. “I know that in th...