Indonesia taking measures to boost exports, investment

By：Xinhua Net Update：2017-07-28

JAKARTA, July 27 (Xinhua) -- The Indonesian government has taken steps to accelerate the growth of export and investment amid rising oil prices and a better prospect of business in the country.

President Joko Widodo on Thursday ordered authorities at the provincial level to simplify procedure for issuing licenses, which was linked with both exportation plan and investment plan by private sector.

"The matters linked with export and investment must be seriously dealt," Widodo said.

The president asked officials to shorten the period required for issuing the license from several months into hours.

"Please improve the licensing procedure totally, and the speed is important. In Jakarta, it has been created a system which can issue a license in three hours, so in provinces it should be faster than that. This all aims to spur economic growth," said Widodo.

Export, investment and consumption are the major contributors to the GDP growth in Indonesia.

Widodo said the government could not only rely on the country's development budget to finance development, but also needs to include participation of private investment.

Indonesia has attempted to boost exports of manufactured products by increasing their competitiveness in the global market.