JAKARTA (Reuters) – Indonesia on Monday launched a website to deal with investment permits, which the government hailed as an important step in reforms to make it easier and faster to do business in Asia’s largest economy. South East.
President Joko Widodo pledged to overcome persistent hurdles such as red tape, rigid labor laws and poor infrastructure during his second term to compete with neighbors such as Vietnam and Thailand to attract investment foreigners.
The ‘Single Online Submission’ oss.go.id website will process investment proposals based on risk level, low risk investments only need to be registered and average investments to meet standards. national.
“We want our investment climate to become more conducive (…) launch of the website.
The website is part of a controversial job creation law https://www.reuters.com/article/us-indonesia-economy-law-idUSKBN26Q1TM, which was passed last year despite protests from unions, environmentalists and other critics who see it as too pro-business.
Jokowi has tried digitizing investment requests before, but processing a proposal in some areas could still take months or even years.
The website gives Jokowi’s new investment ministry greater authority so it can step in when local authorities are taking too long to respond, officials said.
Indonesia emerged from economic recession in the second quarter with gross domestic product growth of 7.07% and investment up 7.54%, but analysts warn the recovery faces a setback due to ‘a resurgence of COVID-19 cases.
The new website, which was created by the telecommunications company Indosat, has eliminated application costs for companies of up to 5 billion rupees ($ 347,705), the minister said. ‘Bahlil Lahadalia investment at launch.
($ 1 = 14,380.0000 rupees)
(Reporting by Gayatri Suroyo; editing by Ed Davies)