"Based on information, the economy of several countries is slowing down and has entered a recession phase. Hence, we race against time and must move quickly with pruning, simplification of regulations," the president remarked during a limited discussion on "Investment Arrangements and Requirements" at the Presidential Office, Jakarta, Wednesday.
The president revealed that the government will offer guarantees and legal certainty in investment to the business world.
The discussion was conducted to oversee the progress in efforts to boost ease of business and investment.
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Several officials present at the meeting comprised Coordinating Minister for Economic Affairs Darmin Nasution, Minister of State Secretary Pratikno, Cabinet Secretary Pramono Anung, Presidential Chief of Staff Moeldoko, Minister of Finance Sri Mulyani, Minister of Law and Human Rights Yasonna Laoly, Minister of Home Affairs Tjahjo Kumolo, and Head of the Investment Coordinating Board (BKPM) Thomas Lembong.
Other attendees at the meeting comprised Minister of Industry Airlangga Hartarto, Minister of Trade Enggartiasto Lukita, Minister of Environment and Forestry Siti Nurbaya, Minister of Public Works and Public Housing Basuki Hadimuljono, and Minister of National Development Planning/Head of the National Development Planning Agency (Bappenas) Bambang Brodjonegoro.
Earlier, after a limited meeting on the Improvement of Investment Ecosystems on Wednesday (September 11), Head of the Investment Coordinating Board (BKPM) Lembong drew attention to five investor complaints, one being the overlapping regulations.
Furthermore, tax incentives still need to be alleviated for investors while also tackling difficulties in managing land for business as well as improving labor capabilities. Related news: Indonesia, EU strengthen economic cooperation through ARISE Plus
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