TEMPO.CO, Jakarta - The World Economic Forum’s global competitiveness report 2019 sees Indonesia dropping five positions compared to the previous year. This effectively ranks Indonesia 50th from the previous 45th after collecting 64.6 points, 0.3 short of last year.
Responding to this, Vice President Jusuf Kalla admitted that the country still has room to improve its global competitiveness in the field of governance, regulatory issues, and the ease to do business.
“We always talk about it, that we rank below Thailand and Vietnam. The two aforementioned are better than us in competitiveness and ease of investment. We understand that and must improve,” said the VP at the Vice Presidential Palace in Jakarta on Wednesday, October 9.
On a separate occasion, the National Development Planning Agency (Bappenas) Minister Bambang Brodjonegoro pointed Indonesia’s demotion to complicated regulations.
“Yes, our regulations are too complicated and the government institution is yet to be welcoming for investments,” said Bambang who blames it on the overlapping regulations between State Ministries.
On another note, the International Institute for Management Development (IMD) World Competitiveness Ranking saw Indonesia leap from 32nd to 11th position.