TEMPO.CO, Jakarta - The World Bank's head representative for Indonesia, Satu Kahkonen, said the crisis due to Covid-19 pandemic presents both challenges and opportunities. He said that there are three key reforms for Indonesia to seize opportunities for rebuilding the economy.
The first priority is to uphold regulations or the omnibus law, "so that it can eliminate challenges and attract investments," Satu said in a virtual discussion on Indonesia's Economic Prospects, Thursday, July 16.
He said the Omnibus law would be the basic structure for increasing investment and a signal to the world economy, that Indonesia is open for business.
"But before the law can be applied, it is important to regulate well, as well as audit well, so that the law can work effectively.
The second key is for SOEs to invest aggressively. Satu said Indonesia still has a huge infrastructure gap that cannot be solved by simply relying on public funds or state budgets without mobilizing money from the private sector.
The third key, he said, is accelerating tax policies.
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