Indonesias ranking in the World Banks ease of doing business index rose to 72 from 91, out of 190 countries surveyed, according to the World Banks latest report Doing Business 2018: Reforming to Create Jobs.
Indonesia has accelerated the pace of reforms in the past few years, and the effort has been fruitful now, Chief of the World Bank Representative for Indonesia, Rodrigo A Chaves, stated.
"We praise the government for its determination to improve the business climate in Indonesia. Going ahead with the momentum and effort to expand the reform, involving transparency and competition, is key to further stimulate the private sector in this country," Chaves noted here on Wednesday.
Indonesia has made significant progress in a number of areas, which is measured by the doing business index. Indonesia has become one of the top 10 reformers in the world, by adopting 39 reform indicators of doing business for 15 years.
More than a half of the reform indicators have been implemented in the past four years. In the two consecutive years, Indonesia has taken seven reforms, the highest number of reforms in one year.
The reforms conducted in Jakarta and Surabaya, two cities measured by the report, last year covered startup costs, which are lowered to 10.9 percent from 19.4 percent of the per capita income.
Electricity connection costs were also lowered by reducing connection costs and internal cable certification costs. The electricity connection costs currently account for 276 percent of per capita income, down from 357 percent.
In Jakarta, the process of applying for new connections has been shortened, and consumers have easier access to electrical power.
People also have easy access to credits after a new credit bureau was set up.
In addition, the government has also facilitated transnational trade by improving electronic system to collect taxes, excises, and non-tax state revenues. As a result, it would take 119 hours instead of 139 hours to receive, prepare, process, and send documents to import goods.
Indonesia is ranked 72 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Indonesia improved to 72 in 2017 from 91 in 2016. Ease of Doing Business in Indonesia averaged 113.10 from 2008 until 2017, reaching an all time high of 129 in 2008 and a record low of 72 in 2017.
Source: Antara News