At a limited cabinet meeting on investment here on Tuesday, President Jokowi stated that incentives were needed in all sectors to attract investment and investors.
"The momentum is very good now. Our competitiveness has continued to increase. Indonesia was ranked 36th on the global competitiveness index for the 2017-2018 period. Hence, this momentum must be utilized to make breakthroughs and to take innovative steps to attract more investment into the country," he emphasized.
President Jokowi highlighted that other countries had also made efforts to attract investors by offering various types of incentives.
The president also observed a similar trend in India, Pakistan, Bangladesh, and Sri Lanka during his recent visits.
"They are very progressive and attractive, especially in promoting ease of doing business in their countries. They also offer alluring incentive schemes to investors," he remarked.
In view of this, Jokowi emphasized that unless Indonesia makes improvements and innovations in its licensing service and removes regulations that hinder flow of investment, the country would be left behind.
"I have observed that several ministries have already reduced regulations that could hinder investment, and I wish it would be emulated at the provincial, district, and city government levels," he stated.
President Jokowi called for calculating possible incentives that could be offered to both domestic and foreign investors, such as, for instance, more attractive tax allowances, and called for it to be immediately implemented jointly by the finance ministry and other related ministries under the coordinating minister.
He also sought reports on tax holidays and tax allowance incentive schemes that have been in existence but still need evaluation.
"I also called for close monitoring of the implementation of policy packages that have been rolled out as part of our efforts to improve ease of doing business," he noted.
The president confirmed to have received reports from economic ministers.
"Just now, I received reports about the conclusion of the single submission program. In March, I think they will start accelerating the licensing process in the country," he added.
Reported by Joko Susilo
(H-YH/INE)
(T.SYS/B/KR-BSR/A014)
Reporter: SYSTEM
Editor: Heru Purwanto
Copyright © ANTARA 2018
