The Indonesian government is set to simplify its investment regulations in response to the World Bank’s Business Ready (B-READY) 2024 report, issued in October of last year, which highlighted inefficiencies in the country’s business registration process. Norman Loayza, Director of the Global Indicators Group at the World Bank, during a discussion on the B-READY report in Jakarta on Monday, February 10, stated that it takes 65 days to register a new foreign company in Indonesia, whereas in the most efficient economies, it takes three days. To address regulatory inefficiencies, the Investment Ministry is developing a “positive fictitious scheme,” which would allow automatic approval of business permits if they are not processed within the stipulated deadline. Beyond streamlining business registration, the government is also looking to enhance its investment climate amid increasing competition from regional peers and external economic pressures. Rosan emphasized that Indonesia’s strategic focus is to capitalize on its natural resources and downstream industrial sectors to attract investors.Source: https://business-indonesia.org/news/indonesia-to-streamline-investment-regulations-following-world-bank-report  (ICE GIACARTA)

Fonte notizia: Business Indonesia, 12 February 2025