The country was ranked as a “star performer” and moved up to 122nd place from 129th in the global “ease of doing business” rankings, published in the Doing Business 2010 report by the World Bank and International Finance Corp. on Wednesday. “Indonesia has made its rules more efficient to help increase opportunities for local firms by, among other things, cutting the time required to start a business and register a property,” said Joachim von Amsberg, the World Bank country director for Indonesia, following the release of the report.
Over the past year, the nation also strengthened disclosure requirements for transactions between affiliated companies, in a bid to protect investors, and has attained remarkable achievements with democratization, decentralization and economic and financial stability, even in the face of the global financial crisis.
The rankings in the report are based on a set of indicators and business factors, such as the climate for launching businesses, dealing with construction permits, and ease of property transactions, getting credit and investor protections. According to the report, Indonesia was now one of the leading performers in East Asia and the Asia-Pacific region.
Source: The Jakarta Globe, p. section B, September 10, 2009