Indonesia Drops One Spot to 73rd Rank in EODB Index

 

Jakarta, MINA — Indonesia`s ease of doing business (EODB) ranking fell one place to 73rd out of the 190 countries, according to the World Bank`s (WB`s) EODB Index 2019, Antara news reported.

“Indonesia has continued to improve its business climate and reduce inequality in global best practices regarding regulation on domestic small-and medium-scale businesses,” WB`s Country Director for Indonesia and Timor Leste Rodrigo A. Chaves stated here on Thursday.

Indonesia was ranked 72nd in the WB`s EODB Index 2018.

However, the country`s EODB score has increased, from 66.54 in 2018 to 67.96 in 2019.

Other ASEAN countries, such as Malaysia, leapfrogged to the 15th rank, with a score of 80.60, while Vietnam ranked 69th, with a score of 68.36.

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Doing Business 2019 report captured annual measurement by the WB Group in the EODB among global economies.

The report analyzes regulations for doing business in a country that covered starting business and operation, trading across border, paying taxes, and resolving insolvency, among others.

According to the report, the indicator for starting a business in Indonesia has become easier by integrating registration of some different social insurances and reducing the public notary cost in Jakarta and Surabaya.

Time to start a business has declined three days to only 20 days, while the cost to start a business declined 10.29 percent to 6.1 percent of the income per capita.

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Indicator for getting credit has improved, with increased information and wider access to credit for small firms, decline in interest rate, improvement in the borrowers` discipline, and monitoring of credit risk.

The indicator for registering property has improved, with a shorter time to settle land disputes in court.   (T/RS5/RS1)

Islamic News Agency (MINA)