President Joko Widodo and Foreign Affairs Minister Retno Marsudi. Tempo Imam Sukamto
TEMPO.CO, Jakarta - President Joko Widodo or Jokowi said that there are thousands of overlapping regulations that need to be simplified.
“There are around 42 thousand [overlapping] regulations. I get a headache just by looking at them” said President Jokowi when speaking at the 2017 Indonesia Business and Development Expo on Wednesday, September 20.
To this date, the government initiated deregulations by issuing economic packages or scrapping regional regulations. There are currently 3,140 regional regulations that have been revoked because they had hampered the economy.
Another example is the Economic Package that was introduced on September 9, 2015. President Jokowi revised several regulations and formed a special government regulation that opens the possibility of foreigners to own properties such as apartments with a market value of above Rp10 billion.
President Jokowi said that if the issue is not to be immediately fixed, it might drive away investors and affect the business climate.
