Fri, 28 Oct 2016
Jakarta. Indonesia needs a special team to monitor the progress of the country's ease of doing business in order to attract more foreign investment, Coordinating Minister for Economic Affairs Darmin Nasution told reporters in Jakarta, on Wednesday (25/10).

"We will propose this to the president. [The team] should be under the Coordinating Ministry for Economic Affairs, monitoring the ease of doing business," Darmin said.

Darmin's comments came after the World Bank released a report "Doing Business 2017: Equal Opportunity for All" in which Indonesia ranks 91 out of 190 countries, up 15 places from the previous assessment. Higher rankings — a low numerical value — indicate better, usually simpler, regulations for businesses and stronger protections of property rights.

According to minister, this has been a tried and tested method in other countries. For example, the United Kingdom and Georgia both have special teams to monitor the ease of doing business and rank seven and 16 on the list respectively.

The list measures a number of factors associated with the ease of doing business including the ease of starting a business, dealing with construction permits, getting electricity, registering properly, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

The report also noted that Indonesia is among the 10 most improved countries.

"Overall, the improvement has been pretty good," Darmin said, adding that there is always room for further improvement.

The World Bank's report acknowledged that Indonesia had introduced reforms to make starting a business easier, such as by encouraging the use of online systems, scrapping the paid-in minimum capital requirement for small and medium-size enterprises, introducing simpler customs documents and a dedicated procedure for commercial litigation and small claims.

The government has so far released fiscal stimulus through 13 policy packages since September last year aimed at boosting investment. The 14th package, with a focus on e-commerce, is scheduled to be released on Wednesday.

Still, despite all of the improvements, the report said there are areas where improvements can still be made, including to further simplify procedures to reduce time and costs for starting a business.

"The Indonesian government has done a lot to enhance the quality of the business environment for the private sector, particularly in the last three years," Rodrigo Chaves, World Bank country director for Indonesia, said in a statement attached to the report.

Indonesia's Investment Coordinating Board, or BKPM, has set a target of attracting Rp 595 trillion ($46 billion) in total investment to Indonesia this year, up 9 percent from last year's realization of Rp 545.4 trillion.

According to BKPM, foreign direct investment in Indonesia in the second quarter reached Rp 99.4 trillion, or a 7.9 percent increase, compared to the same period a year earlier.

BKPM is scheduled to release a report on foreign direct investment in Indonesia assessing the first nine months of this year on Thursday.



News Search/Filter
Transaction Rates
18 Jul 18
Buy
Sell
AED1
3,883.40
3,883.40
AFN1
196.20
196.20
ALL1
132.32
132.32
AMD1
29.74
29.74
ANG1
7,734.51
7,734.51
AOA1
56.25
56.25
ARS1
518.39
518.39
AUD1
10,523.80
10,523.80
AWG1
7,972.29
7,972.29
AZN1
8,378.53
8,378.53
BAM1
8,549.53
8,549.53
BBD1
7,132.22
7,132.22
BDT1
168.87
168.87
BGN1
8,498.33
8,498.33
BHD1
37,675.75
37,675.75
BIF1
8.05
8.05
BMD1
14,264.45
14,264.45
BND1
10,471.57
10,471.57
BOB1
2,065.19
2,065.19
BRL1
3,717.11
3,717.11
BSD1
14,264.45
14,264.45
BTC1
106,227,845
106,227,845
BTN1
208.51
208.51
BWP1
1,394.29
1,394.29
BYN1
7,207.04
7,207.04
BZD1
7,099.72
7,099.72
CAD1
10,803.31
10,803.31
CDF1
8.84
8.84
CHF1
14,257.55
14,257.55
CLF1
599,346.91
599,346.91
CLP1
21.81
21.81
CNH1
2,119.70
2,119.70
CNY1
2,126.61
2,126.61
COP1
4.93
4.93
CRC1
25.17
25.17
CUC1
14,264.45
14,264.45
CUP1
559.39
559.39
CVE1
150.35
150.35
CZK1
642.72
642.72
DJF1
80.13
80.13
DKK1
2,230.05
2,230.05
DOP1
287.05
287.05
DZD1
121.09
121.09
EGP1
796.89
796.89
ERN1
950.32
950.32
ETB1
516.40
516.40
EUR1
16,622.72
16,622.72
FJD1
6,768.43
6,768.43
FKP1
18,693.19
18,693.19
GBP1
18,693.19
18,693.19
GEL1
5,824.26
5,824.26
GGP1
18,693.19
18,693.19
GHS1
2,978.76
2,978.76
GIP1
18,693.19
18,693.19
GMD1
298.10
298.10
GNF1
1.58
1.58
GTQ1
1,904.61
1,904.61
GYD1
68.20
68.20
HKD1
1,817.39
1,817.39
HNL1
593.83
593.83
HRK1
2,249.63
2,249.63
HTG1
211.46
211.46
HUF1
51.38
51.38
IDR1
1.00
1.00
ILS1
3,926.12
3,926.12
IMP1
18,693.19
18,693.19
INR1
208.64
208.64
IQD1
11.97
11.97
IRR1
0.32
0.32
ISK1
133.64
133.64
JEP1
18,693.19
18,693.19
JMD1
108.99
108.99
JOD1
20,104.85
20,104.85
JPY1
126.20
126.20
KES1
142.08
142.08
KGS1
209.12
209.12
KHR1
3.51
3.51
KMF1
33.78
33.78
KPW1
15.84
15.84
KRW1
12.66
12.66
KWD1
47,117.22
47,117.22
KYD1
17,125.63
17,125.63
KZT1
41.52
41.52
LAK1
1.69
1.69
LBP1
9.43
9.43
LKR1
89.21
89.21
LRD1
88.24
88.24
LSL1
1,075.05
1,075.05
LYD1
10,387.75
10,387.75
MAD1
1,505.03
1,505.03
MDL1
855.64
855.64
MGA1
4.24
4.24
MKD1
270.04
270.04
MMK1
9.96
9.96
MNT1
5.84
5.84
MOP1
1,765.22
1,765.22
MRO1
40.12
40.12
MRU1
397.78
397.78
MUR1
414.72
414.72
MVR1
925.65
925.65
MWK1
19.63
19.63
MXN1
755.02
755.02
MYR1
3,526.60
3,526.60
MZN1
241.60
241.60
NAD1
1,075.05
1,075.05
NGN1
39.51
39.51
NIO1
449.42
449.42
NOK1
1,748.99
1,748.99
NPR1
130.31
130.31
NZD1
9,658.53
9,658.53
OMR1
37,052.07
37,052.07
PAB1
14,264.45
14,264.45
PEN1
4,363.95
4,363.95
PGK1
4,336.64
4,336.64
PHP1
266.90
266.90
PKR1
111.99
111.99
PLN1
3,869.35
3,869.35
PYG1
2.49
2.49
QAR1
3,917.73
3,917.73
RON1
3,574.16
3,574.16
RSD1
140.92
140.92
RUB1
227.67
227.67
RWF1
16.42
16.42
SAR1
3,803.55
3,803.55
SBD1
1,811.69
1,811.69
SCR1
1,053.50
1,053.50
SDG1
792.73
792.73
SEK1
1,612.99
1,612.99
SGD1
10,444.57
10,444.57
SHP1
18,693.19
18,693.19
SLL1
2.26
2.26
SOS1
24.62
24.62
SRD1
1,912.63
1,912.63
SSP1
109.50
109.50
STD1
0.67
0.67
STN1
678.45
678.45
SVC1
1,631.02
1,631.02
SYP1
27.69
27.69
SZL1
1,074.76
1,074.76
THB1
427.97
427.97
TJS1
1,514.89
1,514.89
TMT1
4,061.64
4,061.64
TND1
5,398.08
5,398.08
TOP1
6,169.91
6,169.91
TRY1
2,969.43
2,969.43
TTD1
2,117.24
2,117.24
TWD1
467.68
467.68
TZS1
6.25
6.25
UAH1
543.82
543.82
UGX1
3.83
3.83
USD1
14,264.45
14,264.45
UYU1
455.77
455.77
UZS1
1.82
1.82
VEF1
0.17
0.17
VND1
0.62
0.62
VUV1
130.54
130.54
WST1
5,509.14
5,509.14
XAF1
25.34
25.34
XAG1
222,189.94
222,189.94
XAU1
17,505,837.44
17,505,837.44
XCD1
5,278.14
5,278.14
XDR1
20,068.39
20,068.39
XOF1
25.34
25.34
XPD1
13,087,137.67
13,087,137.67
XPF1
139.29
139.29
XPT1
11,661,113.08
11,661,113.08
YER1
56.97
56.97
ZAR1
1,073.79
1,073.79
ZMW1
1,423.45
1,423.45
ZWL1
44.25
44.25
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services