President Susilo Bambang Yudhoyono has promised to further ease licensing procedures to ensure that businesses obtain permits within 50 working days.
"Business licensing is still a complicated issue. Previously, it took 151 days, but then we cut it to 97 days. Now, it needs to be reduced to a maximum of 50 days in all local government areas.
Don't complicate things unnecessarily," Yudhoyono said when opening the national congress of the Association of Young Indonesian Businessmen (HIPMI) in Semarang, Central Java, on Tuesday (20/2/07).
He also urged provincial administrations to refrain from issuing regulations that could stymie investment. "The government has annulled 750 ordinances as they conflicted with central government policies," Yudhoyono was quoted as saying by The Jakarta Post.
He urged local authorities to provide tax incentives to attract investors to the provinces, in an effort to create more jobs, increase local revenues and alleviate poverty. He also called on businessmen to put their money in such prospective sectors as energy, transportation, property, infrastructure, telecommunications, banking and manufacturing.
The president concluded by saying that he had asked the central bank to further cut its key interest rate and to keep the lid on inflation at about 6.6%.