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Jakarta Post

Bureaucraticized investment

Investment-friendly: Investment Coordinating Board (BKPM) employees meet with business owners applying for business permits on July 7. The government has initiated a one-roof system that improves the ease of doing business in the country and offered tax facilities in a bid to lure investment. (Antara/Galih Pradipta)
Editorial board
Jakarta   ●   Wed, April 14 2021

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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