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Indonesia upbeat over investment hike after procedure simplification

Xinhua, February 12, 2015 Adjust font size:

The Indonesian government is optimistic that investment will rise significantly after the country simplified licensing procedures.

The country's coordinating investment board expected investment to jump to about 294 billion U.S. dollars in 2019, rising from 36. 894 billion dollars last year, Hiramawan Hariyoga, deputy for promotion and investment of the board said at the board headquarters on Thursday.

On Jan. 26 Indonesia launched a single-window service for investment license and President Joko Widodo asked the authorities to speed up the service.

Going forward, Hiramawan said that the services would be accelerated to five days in 2019 from 7 days at present.

Indonesia's effort to lure foreign investors has grown after Fitch Ratings and Moody's Investors Service hiked the country's sovereign credit rating to investment grade in late 2011 and early 2012, respectively. Endi