The government has begun to flesh out supporting rules for Indonesia’s sweeping regulatory reforms that will open up the economy and relax investment to stoke sluggish growth and create jobs. The new regulations would open up sectors previously closed for foreign investors in by revising the negative investment list, streamline all business licenses under Investment Coordinating Board (BKPM) and relax taxes for corporate income, expatriates, dividends – among others. More efforts in deregulations include revoking at least 40 ministerial regulations and relaxing building permit (IMB) and environment impact study (Amdal) requirements. “It really shows that the government has [responded] to the complaints of business people [...],” Indonesian Chamber of Commerce and Industry (Kadin) deputy chairman for monetary, fiscal and public policy Raden Pardede said. ...

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