TEMPO.CO, Jakarta - Finance Minister Sri Mulyani said the investment will be encouraged by simplifying regulations and providing incentives. It is expected to boost investment contribution towards economic growth.
Sri Mulyani said it will be done by reducing the various rules that hinder. She also stated the government also needs to create a shorter and easier investment process.
Related to incentives, the Ministry of Finance will cooperate with the Ministry of Industry. Both are evaluating incentives in the form of tax holidays and tax allowances.
The Ministry of Industry will also help to determine which industries are entitled to receive incentives. Sri Mulyani said there are provisions applied for incentive recipients.
President Joko Widodo asked the Working Cabinet to quickly improve the investment. He said all nations are racing to withdraw funds from abroad.
Jokowi said the investment is needed to open additional employment and accommodate unemployment. Investment is also one of the driving forces of Indonesia's economic growth.