Wonogiri, C Java (Antara Bali) - President Joko Widodo (Jokowi) has expressed the hope that Indonesias global investment ranking will be either 40 or higher in 2017.
The president said his confidence comes from the fact that the country has revised many regulations that were found impeding investments.
"Our investment ranking currently stands at 109, compared to a low of 120 earlier. We hope that it will be either 40 or above next year," he said while inaugurating a labor-intensive investment program in Wonogiri, Central Java, on Friday.
The target of achieving investment grade of 40 or higher was set after considering several aspects and making many calculations, he said.
"In the past, our investment ranking had been fluctuating between 110 and 120. I want it to rise beyond 40," he said.
The president expressed the hope that the target could be achieved with some hard work.
One of the methods of increasing the investment grade is abolishing various regulations that pose difficulties to investors.
In addition, the government has also slashed the period for processing investment licensing permits to only three hours, which earlier used to take weeks, months or even half a year.
"We have too many regulations. According to the head of the BKPM (investment coordinating board), these may be numbering close to 42 thousand," he said.(WDY)
