President Joko “Jokowi” Widodo has reminded relevant officials in his administration that now is the time for Indonesia to attract more investments as the country is scoring well in global surveys and has a stable economic situation.
The President explained that since Indonesia had received better investment grades from the three main global ratings agencies, it should be easier for the country to convince investors to disburse their money.
In May, Standard & Poor’s raised Indonesia’s long-term sovereign credit rating to BBB-. Fitch Ratings, upgraded Indonesia’s sovereign debt rating to investment grade in 2011, followed by Moody’s Investor Services in 2012.
“This is the right time now because Indonesia has gained the confidence of the world. We must take advantage. There will not be a second or third chance. The opportunity is in our hands,” he said during the opening of a Cabinet meeting in Central Jakarta on Tuesday.
However, he noted that lengthy red-tape was still hindering many who wanted to invest in Indonesia. He also cited ministerial decrees that were issued without sufficient studies and without proper consultation.
Therefore, he warned his ministers to refrain from issuing regulations and policies that were not based on in-depth studies or in consultation with relevant stakeholders, because the results would be contrary to the public interest.