medcom.id, Jakarta: Investment Coordinating Board Chief Franky Sibarani stated that the World Bank appreciated the Indonesian government's efforts to improve ease of doing business, especially for small and medium enterprises (SMEs).
"We had serious discussion regarding deregulation and its implementation," said Franky in a press release, Tuesday (5/24/2016)
"We have explained our deregulation policies especially the ones related to 10 main topics (of World bank's ease of doing business index)," he continued.
According to Franky, the current administration has planned the largest infrastructure development in the history of Indonesia including 35 gigawatt electricity project, sea toll road project, 24 new ports, 15 new airports, 2,024 miles of new railways, 621 miles of new highways, 49 new water reservoirs and irrigation system for one million hectares of new farmlands. All projects are targeted to be completed in 2019.
Furthermore, Franky also explained investment policy reforms in his agency including the creation of one stop service and three hour investment licensing service.
Regarding SMEs development, Franky added that the government has erased minimum capital requirement and has expanded fiduciary services for SMEs.
Indonesian delegation visited the World Bank headquarters in Washington D.C, the United States this week to further increase Indonesia's ranking in the World Bank's ease of doing business index. Indonesia is currently ranked 109th in the index.
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