President Postpones Announcement of 16th Policy Package

President Joko 'Jokowi' Widodo has decided to postpone the announcement of the government's upcoming policy package for easing the process of acquiring permits related to new investment. (Reuters Photo/Darren Whiteside)

By : Tabita Diela | on 9:50 PM August 21, 2017
Category : Business, Economy

Jakarta. President Joko "Jokowi" Widodo has decided to postpone the announcement of the government's upcoming policy package for easing the process of acquiring permits related to new investment, a spokesman said on Monday (21/08).

The president initially planned to launch the 16th policy package right after the Independence Day celebrations on Aug. 17. The package will be part of the government's series of policy packages since September 2015 aimed at attracting much-needed investment with deregulation.

"The announcement of the Economic Policy Package Chapter XVI has been postponed," presidential spokesman Johan Budi SP said, as quoted by Antaranews.com, adding it is not yet the right time for the announcement.

According to Coordinating Economic Affairs Minister Darmin Nasution, the upcoming package will change the way government officers process investment permits, and will improve the investment climate by making the process easier and more transparent.

The policy packages have so far managed to move up Indonesia's position in the World Bank's ranking on the ease of doing business. Indonesia now ranks 91 out of 190 countries assessed, up 15 places from the previous list. The president's target is for the country to rank 40.

The upcoming policy package also expects ministries and government agencies to have their own task forces to monitor and facilitate incoming investment related to their respective sectors.

According to Darmin, the package should be announced this month.

Show More

 
MORE NEWS