President: Don’t Make Investing in Indonesia Complicated

The website of The President of The Republic of Indonesia has published a press release about the official opening of the 2022 Investment National Coordination Meeting (Rakornas) at The Ritz-Carlton, Jakarta, on Wednesday, 30 November 2022.

In his remarks, the President again reminded his staff that the current world situation is not easy due to the various crises that have hit including the energy crisis, the food crisis and the financial crisis.

“Right now [the world] is in a very difficult position. Inflation issues, plummeting economic growth, the energy crisis, the food crisis followed by difficulties in finding fertilizer, the financial crisis, are all haunting all countries,” said the President.

In managing this difficult situation, the President reminded his staff to be careful in making both fiscal and monetary policies, especially as 2023 is being tagged as a year of global recession and because all countries are scrambling for investments.

“Investors are becoming a bone of contention for all countries because all countries want capital inflows, all of them. Because if there is no additional capital inflow, the velocity of money will not grow. All the fighting over the name of investment, once again, the name of the investor is being fought over by all countries,” he said.

Related to this, the Head of State again reminded his staff both at the center and in the regions to not make it difficult for incoming investment. According to the President, currently Indonesia has won the trust of investors to invest.

“Don’t let anyone get distracted. The trust that we have earned should not be lost because we gave the wrong treatment, wrongly treated the investment that came into our country because of the intense competition in seizing investment,” he stressed.

Furthermore, the President said that the government is also studying investment developments in other countries that are busy investing through economic intelligence. Various policies that can bring in more investment are also being studied, for example the provision of additional incentives and tax holidays.

“Why are more flocking there and not flocking here? There are additional policies, additional incentives, we will study, tax holidays, giving better treatment. We learn everything. But if later in the implementation there are still disturbances, then all the so-called policies that we have designed” won’t mean anything he explained.

In addition, the President also reminded his team that the Online Single Submission (OSS) platform and its capabilities should be improved. The President wants the platform to be able to quickly serve investments in order to maintain investor confidence.

“Please really look at the platform again, fix it right so we can convey things quickly, if we say five minutes, five minutes is right; if we are say one hour, one hour is right. Do not tell me one hour, when in fact it could be six months. Please fix it, there is still a lot that needs to be fixed from this platform,” he said.

Also accompanying the President in the event were the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Cabinet Secretary Pramono Anung, Minister of Investment/ Head of the Investment Coordinating Board Bahlil Lahadalia, Minister of Finance Sri Mulyani, Minister of Home Affairs Tito Karnavian, and Minister of Energy and Resources Mineral Arifin Tasrif.

Source: The President of The Republic of Indonesia website, BPMI Setpres

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