Indonesia seeking to boost investor confidence

Indonesia seeking to boost investor confidence

President Joko Widodo (Jokowi) in the middle of Director of the Indonesia Stock Exchange (IDX) Ito Warsito (right) and Governor of Bank Indonesia Agus Martowadojo (left) when opening early 2015 stock trading on the Stock Exchange (IDX), Friday (Dec. 2, 2015). (ANTARA/Puspa Perwitasari)

Jakarta (ANTARA News) - Indonesia is seeking to improve its investment licensing procedures to boost investor confidence in the country, President Joko Widodo (Jokowi) stated here on Friday.

"It must never happen again that a process to get a license to develop a power plant should take five to six years. I will check. If a target cannot be met, there will be consequences to pay," he affirmed at the opening of the first day of share trading in 2015 at the Indonesia Stock Exchange (BEI) Building here on Friday.

He said the government will inject funds into state-owned companies to accelerate infrastructure development in the country in order to improve connectivity between provinces, islands, and others.

"There is more fiscal budget, so that the focus could be placed on connectivity to boost economic growth. We will reveal it in the revised budget," he noted.

He remarked that the fiscal room provided in the countrys budget has increased by around Rp240 trillion after the fuel subsidy was cut, which can be used for financing infrastructure development such as dams, toll roads, seaports, airports, and railway lines outside Java.

"If possible, they (projects) must be carried out by using the fiscal room available early in the year to trigger better economic growth. Do not say it is difficult. Show the problems to me, and we will settle them. We wish to really serve," he emphasized.

He warned that global and internal challenges still remained in the future, which are indeed difficult to anticipate, but the government is optimistic it can overcome them.

"Internally, I am optimistic that the situation would be better," he added.

(Reporting by Zubi Mahrofi/Uu.H-YH/INE/KR-BSR)