The government of Indonesia plans to release an investment manual in the next two or three months as part of a strategy to improve ease of doing business in the country.
The Southeast Asian economy hopes to lift considerably this year its ease of doing business ranking by the World Bank, said Franky Sibarani, head of Investment Coordinating Agency, at a press conference on “Investment Projection in 2016” in Jakarta recently.
“The country’s target is to ensure that its Ease of Doing Business ranking in 2016 is in double digits, as it will significantly impact the investment climate in Indonesia,” said Franky, as quoted by state-run Antara News.
The World Bank, in a report released in October 2015, upped Indonesia’s ranking from 120 in 2014 to 109 out of 189 countries surveyed by the bank.
Indonesia’s position rose by 11 points based on a survey conducted by the financial institution from June 2, 2014 to June 1, 2015 in two locations—Jakarta and Surabaya.
Franky said creating an inviting investment climate is one of the steps that the agency will be taking to achieve the investment target of IDR594.8 trillion (US$42.6 billion) in 2016.
He said the agency is currently finalizing an investment manual that will become the legal reference to assure investors of business certainty in Indonesia.
“We hope that by the end of March or early April, it would have been finalized,” he said.
Franky said he would give notes to 18 ministries and two regional governments on improving the ease of doing business in the country.
“Next week or, at the latest, by the end of this month, we will coordinate to improve our Ease of Doing Business ranking. We have 19 notes to be given to 18 ministries and two regional governments,” he said.
Photo:Gunawan Kartapranata
