World Bank raises Indonesia's EODB rating

The World Bank (WB) has raised Indonesia's Ease of Doing Business (EODB) rating by 15 levels from 106 to 91 out of 190 economies, placing it among ten most improved economies.

In its latest report entitled "Doing Business 2017: Equal Opportunity for All," WB noted that Indonesia's accomplishment to attain higher EODB rating was due to government's serious efforts in addressing it in the last three years.

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

According to the report, the impressive rating jump has brought Indonesia among ten economies in the world that saw significant EODB improvements.

The report said that the reform programs carried out by President Joko Widodo administration were appropriately addressing multiple EODB aspects assessed by WB, including support to start a business, electricity supply, respecting the contracts, cross-border trade and obtaining loans.

The report lauded Indonesian government's initiatives to intensify the use of online systems that enables taxpayers to pay tax much easier. It also praised government's moves to reduce barriers for business women in doing their business.

"Through all of those simplified processes in so many areas, global and local business communities would be more encouraged," Chaves said in a statement released on Wednesday.

The Indonesian government has issued dozens of economy reform packages, aimed at easing businessmen and investors in doing their business in the country by simplifying the administration process and procedures in doing so. Endit