Private investment and basic infrastructure have been the main focus of President Joko “Jokowi” Widodo’s attention over the past seven years. No wonder, the Investment Coordinating Board (BKPM) was the first office he inspected a few days after his inauguration in late October 2014. He has since then been going all out to invigorate domestic and foreign investment through regulatory and bureaucratic reforms.
That scale of priority fully makes sense. As a former furniture-making businessman, Jokowi clearly comprehends that it is private investment — and not the government — that creates jobs, which in turn provides wages and generates purchasing power for the huge population (lastly estimated at 270 million) to propel the wheels of the economy.
He enacted an executive order in mid-2018 on the establishment of a web-based integrated busi...
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