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Jakarta Post

Businesses cautiously optimistic over Indonesia's economic reforms

  • Marchio Irfan Gorbiano, Made Anthony Iswara and Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, December 3, 2019   /  12:59 pm
The Jakarta Post Image
An aerial view of Mega Kuningan business district in South Jakarta. (kompas.com/Hilda B Alexander)

Business players, economists and observers welcomed the government’s sweeping regulatory reforms to liberalize the economy and stoke growth. However, many have said they would maintain caution as to whether the programs can be consistently delivered. “Resolution of investor deterrents and the desired inflows' impact on these efforts will depend upon consistent implementation,” said Chris Wren, executive director of the British Chamber of Commerce (Britcham) in Indonesia. President Joko “Jokowi” Widodo’s administration is fleshing out rules for Indonesia’s sweeping regulatory reforms to lure investments, stoke sluggish economic growth and create jobs amid global economic uncertainties. The new regulations would open up sectors previously closed to foreign investors by revising the negative investment list, streamlining all business li...