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Government to issue another economic policy package soon

Jakarta (ANTARA News) – Coordinating Minister for Economy Darmin Nasution said a new, the 15th economic policy package, would be issued toward the end of this year or early 2017 at the latest.

“We will continue with the policy package, the 15th to be announced before the end of this year or early next year,” Darmin said addressing a meeting on “Prospects of Indonesian Economy” 2017 here on Monday.

Darmin, however, did not give the gist of the new economic policy package hint, but he promised the new policy would support the momentum of investment growth in 2017.

“The package is quite important . We have prepared the packages to attract investment both domestic and foreign investments,” he said.

Earlier a deputy at the office of the coordinating minister Edy Putra Irawady said discussion was in progress on the 15th economic policy package.

A number of possible focuses in the new package are improvement of logistics system, institutional strengthening of Indonesia National Single Window (INSW) or reorientation of fertilizer subsidy.

The government has since September 2015 issued 14 economic policy packages marked with massive deregulation and streamlining of the bureaucracy aimed at improving investment climate and competitiveness. Thousands of regional regulations considered restrictive on investment were abolished.

The government has issued 99 percent of implementation regulations of the economic policy packages that their impact is expected to be seen in 2017.

One of the results of the series of policy packages is the establishment of Bonded Logistic Centers in a number of areas out side Java to facilitate provision of industrial basic materials.

The most recent police package , the 14th issued in November, 2016 contains the road map of development of e-commerce industry.

One of the reasons for issuing the policy package is that the government wants the country to become the largest digital economy in southeast Asia in 2020.

With the road map the electronic trade ecosystem and expansion and efficiency of electronic trading business could be formed. (*)