Indonesia Ranks 72nd in 2018 Ease of Doing Business Index

Wahyu Dwi Anggoro    •    01 November 2017 16:40 WIB
investment
Indonesia Ranks 72nd in 2018 Ease of Doing Business Index
Illustration (Photo: Antara/Umarul Faruq)

Metrotvnews.com, Jakarta: Indonesia rose by 19 positions to 72nd from 190 countries in the 2018 Ease of Doing Business Global rankings.

"Indonesia has accelerated the pace of reforms in recent years and its efforts are paying back. We commend the government’s continued determination to improve the business environment in the country," the World Bank country director Rodrigo Chaves said in a press release on Wednesday, November 1, 2017.

"Continuation of the reform momentum, and a widening of the reform effort to include openness and competition reforms, is key to further stimulate the country’s private sector," the World Bank official added.

In the last 15 years, Indonesia has reformed the most in Starting a Business, with eight reforms since 2003. As a result, starting a new business in Jakarta now takes 22 days, compared with 181 days in Doing Business 2004. 

In addition, Indonesia has made significant improvements in Resolving Insolvency, an area in which the country performs best. The recovery rate is 65 cents on the dollar today, compared with only 9.9 cents in 2013.

Nevertheless, Indonesia still needs to improve in the area of Enforcing Contracts. The cost for resolving a commercial dispute through a local first-instance court in Jakarta is 74 percent now, much higher than the average cost of 21.5 percent in the OECD high-income economies.



(WAH)