Indonesia set to unveil fifth economic stimulus policy to resolve licencing issues

Jakarta, 4 Muharram 1437/17 Oktober 2015 (MINA) – It seems the government is serious in boosting Indonesia’s economy which was slumped in recent months.

After launching the Fourth Economic Policy Package on Thursday (15/10), the government has drawn up the Economic Policy Package of Fifth Edition to resolve licensing issues at the regional level.

The fifth policy package would be about deregulation of permits at the regional level, Chief Economic Minister Darmin Nasution said here on Friday.

Darmin did not explain the focus of the fifth economic policy package but said it would be made public after President Joko Widodo comes home from the US at the end of this month.

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“We actually still have a lot of stocks to be deregulated but let us discuss it later,” he said.

The government issued the fourth economic policy package on Thursday, containing, among other measures, simplification of the wage system, expansion of the ambit of recipients of smallholder credit and implementation of credit extension by LPEI (Indonesia Export Financing Institution) to prevent lay-offs, Mi’raj Islamic News
Agency reported, quoting Antara News.

On October 7, the government had issued the third economic policy package covering issues such as reducing the price of fuel oils, electricity and gas, expanding the ambit of recipients of smallholder credit (KUR) and simplifying the process of land permit issuance for investment.

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The third economic policy package had followed the first and second packages, declared in September 2015, that were aimed at deregulation to improve the investment climate in the country and expedite the implementation of development projects.

First package was launched on Wednesday (09/09) last month, which focuses on three major things, namely improving the competitiveness of the industry, accelerate the national strategic projects, and encourage investment in the property sector.

Second package was unveiled on Tuesday (09/29). The focus of this package attract inward investment through deregulation and de-bureaucratization. This step taken by the government to improve the investment climate in Indonesia.

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The economic policy packages is mainly aimed at accelerating the development of a conducive macro-economy, move the national economy forward, protect low-income community members and stimulate the rural economy.

The government issued the economic policy packages in a series to overcome the economic slowdown following global economic uncertainty and, at the same time, make Indonesia more competitive and strengthen its economic structure. (T/R07/R01)

Mi’raj Islamic News Agency (*MINA)

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