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Govt promises quicker procedures, greater ease for business
The government is expecting the number of days it takes to register a firm to fall to 2.5 days in the World Bank’s 2022 ease of doing business (EODB) report from 10 days in the 2020 report.
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Permit applicants visit the BKPM one-stop integrated service in Jakarta on Dec. 1, 2015. The government expressed confidence in September 2021 that recent regulatory changes would earn Indonesia a higher score in the World Bank’s upcoming ease of doing business assessment. (JP/Ricky Yudhistira)
T
he government expects Indonesia to register improvements across the majority of indicators that make up the World Bank’s ease of doing business (EODB) report, including a shorter time to start a business, thanks to the latest regulatory reforms.
Starting a business in the country is estimated to take around 2.5 days, which would mark an improvement from the 10-day time recorded in the 2020 EODB assessment. The improvement is expected to reflect in the bank’s 2022 report.
“This is a picture of reforms we are carrying out,” Indra Darmawan, a special staff member for macroeconomy at the Investment Ministry, said in an online discussion on Friday.
“We have cut the procedures, the number of days and the cost. This will impact considerations investors take [into account] before entering Indonesia.”
Indonesia has been stuck in 73rd position in the EODB ranking from 2019 to 2020 despite some marginal improvements. With the latest reforms introduced in the Job Creation Law, which revised more than 70 laws, the government has claimed, Indonesia can move up to around 60th position.
Improvements in registering a firm are in part the result of the revamped online single submission (OSS) website, a business licensing platform. It simplifies the licensing process with a risk-based approach, allowing low-risk businesses to get the required business registration number faster.
Read also: Govt finally launches revamped OSS for business licensing
