"Regulations have to be made as simple as possible. That is all, nothing else (is needed)," Jokowi said.Jakarta (ANTARA News) - President Joko Widodo (Jokowi) asks regional administrations to simplify investment regulation to darw more investors to their respective regions.
"Regulations have to be made as simple as possible. That is all, nothing else (is needed)," Jokowi said at a meeting with all regional leaders. including governors, regents and city mayors, here on Wednesday.
Jokowi said he wanted transformation of economic fundamentals from merely relying on consumption and exports of raw materials to manufacturing - "from consumption to investment and from consumption to industry."
Moving downstream is needed comprehensively in all aspects, he added.
"The regions should prepare themselves to take any opportunity to attract investment," he said.
He said the central government has launched a sweeping economic structural reform , but it would not work as expected if the regions fail to follow.
The central government has announced four phases of economic policy packages pruning restrictive regulation to facilitate investment.
Process of licensing investment in industrial estate is to be wirapped up in three hours . Previously it would take around 8 days for an investment proposal to get an approval.
Jokowi said Indonesia is competing with all other countries to attract investors.
"All countries do the same. We have to move fast amid the tight competition, otherwise we would remain lagging behind.
"Dont expect we would be better in economy if we continue to adopt the old system our economy would If we continue to adopt the old system," he said.(*)
Editor: Heru Purwanto
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