Number Number I | September II | November 2016 2016
More articles available at : www . kemlu . go . id / chicago
Number I | September 2016
Trade & Investment Bulletin
More articles available at : http :// kemlu . go . id / chicago
FORBES LAUDS INDONESIA ’ S EFFORTS IN CUTTING BARRIERS TO DOING BUSINESS
EDITOR ’ S NOTE
Dear Readers ,
Foreign business has a lot of opportunities in doing business in Indonesia . A number of breakthroughs have been launched in allowing business to be established and registered in just a few hours by establishing One-Stop Integrated Services at the Indonesia Investment Coordinating Board .
One of the promising businesses for U . S . companies is a franchise . McDonald ’ s , Kentucky , Starbucks and Wendy ' s are just among the U . S . franchises that can be found easily in Indonesian major cities such as Jakarta , Surabaya , Yogyakarta , Denpasar , Medan , and in the suburb like Bekasi , Depok , and Bogor . The franchise which adopts local culture will be exceptional .
Global media tycoon Steve Forbes said Indonesia could grow up to 10 percent each year if the country introduced efforts in removing barriers to doing business and cutting corporate tax , the mogul said during an address he gave in Jakarta on September 2 , 2016 .
The Indonesian economy is yet to return to the growth pace it enjoyed during the commodity boom five years ago , with public and private investment yet to fill the productivity gap caused by a drop in exports of commodities like coal , palm oil , and raw minerals . The economy expanded 5.2 percent in the second quarter of the year , up from 4.9 percent in the previous quarter thanks to robust household consumption .
Investment growth accounted for a third of the economy although it slowed to 1.6 percent down from 1.8 percent in the previous quarter . " There is no reason why this country should not grow real terms at 8 percent to 10 percent a year .
It can be done if Indonesia starts to remove those barriers following other countries ," Forbes said during a luncheon organized by AmCham Indonesia in Jakarta on September 2 , 2016 .
Indonesia ranked 109 out of 189 countries in World Bank ' s 2015 Ease of Doing Business Survey , moving up 11 places from a year earlier after the government eased procedures for companies to register their businesses and pay tax . Still , Indonesia lags far behind its Southeast Asian counterparts , such as Malaysia and Singapore .
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Forbes lauds Indonesia ’ s efforts in cutting barriers to doing Business 1 Indonesia presents “ Prima Niaga ” awards to two U . S . importers 2 Indonesia Trade Surplus Largest in 14 Months 3 Indonesia has 698 franchises , turnover of USD 13.3 billion 4 USA companies received Primaduta awards from Indonesian President 5 Indonesian furniture : creativity in woods 6 Exhibition agenda 2016 / 2017 8
For more detail information please contact : Economics Affairs Consulate General of the Republic of Indonesia 211 W . Wacker Drive # 8 Chicago , Illinois 60606 Phone : 312.920.1880 Fax : 312.920.1881 Email : economy @ indonesiachicago . org Website : www . kemlu . go . id / Chicago
Number II / November 2016 | Trade & Investment Bulletin 1