The country expects to reach 60th place at the lowest this year and achieve 40th place within the next three to four years, Investment Coordinating Board head Bahlil Lahadalia said on Monday .
Indonesia ranked 73rd on the World Bank’s Doing Business index released in October of last year. Business people and investors have complained about the country’s bureaucratic red tape and rigid labour regulations. The government is hoping to attract more investment into the country to give a jolt to sluggish economic growth. It submitted a sweeping omnibus bill on job creation to the House of Representatives last week and expects the bill to overhaul the country’s laws and cut red tape.
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