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

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

Share This Article

Change Size

Businesses cautiously optimistic over Indonesia's economic reforms An aerial view of Mega Kuningan business district in South Jakarta. (kompas.com/Hilda B Alexander)

B

usiness 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 licenses under the Investment Coordinating Board (BKPM) and relaxing taxes for corporate income, expatriates and dividends, among other things.

More efforts in deregulation include revoking at least 40 ministerial regulations and relaxing building permits (IMB) and Environmental Impact Analysis (Amdal) requirements.

-
- (JP/Swi Handono)

Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani said getting every single stakeholder involved in business licensing on board with the BKPM’s new authority would be a big challenge.

to Read Full Story

  • Unlimited access to our web and app content
  • e-Post daily digital newspaper
  • No advertisements, no interruptions
  • Privileged access to our events and programs
  • Subscription to our newsletters
or

Purchase access to this article for

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay

Redirecting you to payment page

Pay per article

Businesses cautiously optimistic over Indonesia's economic reforms

Rp 29,000 / article

1
Create your free account
By proceeding, you consent to the revised Terms of Use, and Privacy Policy.
Already have an account?

2
  • Palmerat Barat No. 142-143
  • Central Jakarta
  • DKI Jakarta
  • Indonesia
  • 10270
  • +6283816779933
2
Total Rp 29,000
{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.