Indonesia-US economic ties to strongly develop in next five years
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The US-Indonesia trade may increase by 46 percent in the next five years, according to the latest report from the US Chamber of Commerce in Indonesia, source from Vietnam News in Jakarta.
The report appreciates efforts by President Jokowi’s government in carrying out economic reforms and improving the business environment, saying that the reform needs to be stepped up.
It also urges the Indonesian government to boost the law enforcement and create a more solid and fair legal foundation, especially in respecting commercial contracts, which is very important in creating confidence for businesses who intend to do business in Indonesia.
The report recommended the Indonesian government continue reforming administrative procedures and investment policy and cut investment licensing time.
In 2014, two-way trade between the US and Indonesia surpassed 90 billion USD.-
Questions & Answers
Q.Which body published the report predicting increased trade between the US and Indonesia?
Which body published the report predicting increased trade between the US and Indonesia?
The US Chamber of Commerce in Indonesia published the report. This organisation is based in Jakarta, according to information sourced from Vietnam News.
Q.What key area does the report suggest the Indonesian government needs to improve to create business confidence?
What key area does the report suggest the Indonesian government needs to improve to create business confidence?
The report urges the Indonesian government to strengthen law enforcement and establish a more robust and equitable legal foundation, particularly regarding commercial contract respect.
Q.What recommendations did the report make regarding investment procedures in Indonesia?
What recommendations did the report make regarding investment procedures in Indonesia?
The report recommended that the Indonesian government should continue reforming administrative procedures and investment policy, specifically by reducing the time required for investment licensing.