In­done­sia to un­veil eco­nomic pack­age to lure more in­vestors

The Myanmar Times - Weekend - - International Business -

THE gov­ern­ment will an­nounce its 16th eco­nomic pol­icy pack­age in early Au­gust in a bid to ex­cel in­vest­ment, Co­or­di­nat­ing Eco­nomic Min­is­ter Darmin Na­su­tion has said.

“Hope­fully the 16th pack­age can be [re­leased] three weeks from now. We hope it will bring a sig­nif­i­cant break­through to in­vest­ment,” Darmin said dur­ing a hear­ing with the House of Rep­re­sen­ta­tives’ bud­get com­mis­sion in Jakarta on Wed­nes­day.

He de­clined to dis­close de­tails about the pack­age, but has pre­vi­ously said that the 16th and 17th eco­nomic pol­icy pack­ages would be ex­ten­sions of the 15th eco­nomic pol­icy pack­age, which aimed at im­prov­ing lo­gis­tics in the coun­try.

Darmin said the 16th pack­age ad­dressed four main is­sues: en­hanc­ing the role of trans­porta­tion in­sur­ance, re­duc­ing costs for lo­gis­tic ser­vice providers, strength­en­ing the In­done­sia Na­tional Sin­gle Win­dow (INSW) au­thor­ity, and re­duc­ing the num­ber of pro­hib­ited and re­stricted goods.

The In­vest­ment Co­or­di­nat­ing Board (BKPM) has set a tar­get to rake in 678.8 tril­lion ru­piah (US$50.9 bil­lion/k69.73 tril­lion) by year-end, or a 10.7 per­cent in­crease from what it achieved last year.

In­done­sia has launched 15 eco­nomic pack­ages to in­cen­tivize in­vestors and sim­plify busi­ness reg­u­la­tions all in a bid to at­tract more in­vestors. How­ever, busi­ness­peo­ple have re­peated that changes are slow, and red tape and com­plex tax poli­cies and prac­tices con­tinue to chal­lenge busi­nesses. – Jakarta Post

A cof­fee ven­dor waits for cus­tomers in a con­struc­tion site in Jakarta. Photo: AP

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