JAKARTA - President Prabowo Subianto immediately gave homework after Danantara successfully issued a US$1.5 billion global bond. The government is asked to accelerate deregulation and downstreaming.
Minister of State Secretary Prasetyo Hadi said the President emphasized the need to simplify licensing to make the investment climate more competitive.
"The President said that we must continue to work to make licensing easier," said Prasetyo at the Presidential Palace Complex, Monday, June 15.
Deregulation means simplifying rules that hinder business. In practice, this usually concerns permits, procedures, and bureaucracy that often make investors think twice.
In addition, the President also asked for the acceleration of downstream and industrialization. This message was given to Rosan Roeslani as Minister of Investment and Industrialization/Head of the Investment Coordinating Board (BKPM) as well as Head of BPI Danantara who is also a member of the Industrialization and Industrialization Task Force.
According to Prasetyo, the strengthening of the rupiah cannot be separated from the performance of exports and imports. It is hoped that the industrialization will reduce Indonesia's dependence on imported goods.
"Hilirisasi" means processing raw materials into higher value products. For example, not only selling raw minerals, but processing them into industrial products.
The government hopes that this step will add economic value to the country.
The context is clear. Andantara has just received trust from the global market. The demand for its bonds reached US$4.6 billion, far above the initial target of US$1 billion.
The challenge now lies in implementation. The trust of investors who enter through Danantara bonds needs to be answered with a simpler business permit, a downstream project that is moving, and export results that add value to the Indonesian economy.
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