Bracing for the Hard Times

The government needs to mitigate the economic slowdown by immediately realizing its promise to increase productivity and make the economy more efficient.

KOMPAS/WAWAN H PRABOWO

President Joko “Jokowi” Widodo delivers a speech at the opening of the Kompas 100 CEO Forum 2018 at the Jakarta Convention Center (JCC) in Senayan, Jakarta, on Tuesday (27/11/2018). The Kompas 100 CEO Forum was aimed at promoting optimism ahead of the general election in 2019 and in the face of global economic instability.

When speaking to business leaders at the Kompas100 CEO Forum in Jakarta on Thursday (28/11/2019), President Joko Widodo reiterated that he would improve the investment climate. There will be a reduction in the bureaucratic chain by eliminating third echelon and fourth echelon officials without reducing employee income.

There are also two omnibus laws, namely in taxation and employment creation, to eliminate overlapping and or conflicting regulations. The harmonized regulations are expected to make Indonesia\'s investment climate more attractive to domestic and foreign business actors. The omnibus law on taxation aims to anticipate the transformation toward a digital economy and create equal business opportunities for all business actors.