Jakarta (Antara Bali) - Indonesias Cabinet Secretary Pramono Anung said here on Tuesday that the Coordinating Minister for Economy will announce the ninth economic policy package soon.
"What would it be about is still being finalized, and hopefully it will be done this week," he said after a limited cabinet meeting, focusing on the negative list of investment areas, at the presidential office.
Pramono said in principle, the policy package was being issued to enhance competitiveness, make the investment scenario more alluring and to protect domestic business players. All this was being done in the framework of expediting work this year.
The government had earlier come up with eight economic policy packages with the first one focused on making the national industry more competitive, expediting national strategic projects and enhancing investment in the property sector.
The second package was introduced with the purpose of deregulation and de-bureaucratization to ease domestic as well as foreign investment.
The third package covered three policies, including reduction of electricity tariff and fuel oil prices, extension of smallholder credit recipients and simplification of land permits for investment.
The fourth package was focused on labor wages, smallholder business credit and export financing institutions, while the fifth catered to reduction of income taxes (PPh) for companies that conduct asset revaluation and avoidance of double taxation on real estate, property and infrastructure investment funds.
The sixth package contained incentives for special economic zones, water resource management and simplification of permits to import raw materials for manufacturing medicines and food products. The permits are issued by the Food and Drug Monitoring Agency (BPOM).
The seventh package included policies connected with labor-intensive industries and land certification, while the eighth focused on the development of oil refineries and incentives for aircraft maintenance companies. (WDY)
