Investment is the key to job creation."Seoul (ANTARA News/Yonhap) - President Park Geun-hye said Thursday the government should try to remove as many regulations as possible to encourage businesses to investment more so as to help create jobs and spur the slumping economy.
"Investment is the key to job creation," Park said during a trade and investment promotion meeting. "First of all, the government should carry out deregulation in a bolder manner to improve the environment for investment."
Park stressed that regulations should be lifted in a sweeping or "negative" way as much as possible. Lifting regulations in a negative fashion refers to lifting all but core regulations.
The number of business regulations rose from about 11,000 to some 14,000 in 2012, she said.
"It would not be easy to make an investment decision in a situation where conditions at home and abroad are opaque," she said. "Therefore, trust in government policy is important and establishing a trustworthy investment environment is important."
Park said the government should work harder to revitalize Asia`s fourth-largest economy, saying a supplementary budget and other stimulus measures it has taken so far have not yet brought about their intended effects.
"In the second half, we have to put priority on revitalizing the economy for ordinary people," she said.
(T.A045/H-AK)
Editor: Priyambodo RH
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