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View all search resultsIndonesia is taking initiative in reshaping traditional regulatory pathways with an innovative model that positions itself as an early participant rather than a late adopter, focusing on selective adaptation of global principles to local realities and leading the paradigm shift to empower emerging economies in influencing global standards alongside development at home.
Red tape prevented Indonesia from climbing up the World Bank’s ease of doing business ranking last year, hence why the country has been ranked 73rd since 2018. The President wants the country reach the 40th position this year.
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.
“As long as the government fixes the regulatory complexity, infrastructure is attractive. The problem with first of a kind project is the government struggles to even get to the tender stage due to regulatory complexity so it needs a way to simplify [things]."
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