ISD Launches the Executive Briefing for Boards and Members

Jakarta, 19 May 2016

ISD Launches the Executive Briefing for Boards and Members

May 19th, 2016. As the part of ISD program to update its members about recent issues on services sectors and economy in general, the Executive Briefing Program is officially launched and opened by Chris Kanter, Chairman of ISD Board of Founders. Different from ISD Dialogue Series, which is mainly aimed to outreach wider public through discussion about particular issue, the Executive Briefing is an exclusive session for ISD Boards and Members.

“The Executive Briefing is an excellent event to have in-depth discussion about particular topic, especially one with high level of public interest. This is also an advantage for ISD Boards and Members to hear from first-hand practitioners,” underlined Chris Kanter in his remarks.

The grand topic of the first Executive Briefing is review of the Deregulation Packages issued by the Government of Indonesia. From 2015 to May 2016, the Government has issued 12 Deregulation Packages that impacted many sectors such as Industrial Estate, Asset Revaluation, Financial Inclusion, Taxation, Small-Medium Enterprise (SME), Logistics, and many more. Speakers of this event are Wijayanto Samirin (Economist from the Vice President Republic of Indonesia Office), Tatiana Nenova (Deputy Director for Finance and Trade, the World Bank), and M. Romli (Economist from the Ministry of Finance Republic of Indonesia).

“The Deregulation Packages are very good initiatives to promote efficiency in Indonesia. Integration of the Indonesia National Single Window (INSW) and Inaport in the Package 9 and regulatory simplification for SMEs in the Package 12 enable business practice to be more efficient. As we know, logistics costs in Indonesia are at 22.6% of sales. Compare it to Thailand with 15% and Malaysia with 13%,” said Tatiana Nenova.

“The essence of these Deregulation Packages is to fix the problem in the procedure of doing business and encourage bigger investment in Indonesia. From Ease of Doing Business Indicator, many aspects are fixed. It comprises Property Registration, Establishment Process, Access to Credit, and Cross-Border Trade. In the same time, we need to admit and evaluate several regulations that are currently under process to be reformed,” added Wijayanto Samirin.

On another hand, M. Romli mentions that aside of seeing what the Deregulation Packages have done to our economy, it is not less important to put our focus on what will happen next. He reminds the Government to direct the purpose of national development towards three areas: accelerating infrastructure development, granting incentives for business to create a stable trading market, and maintaining purchasing power.

“If the Government could keep those three areas, sustainable growth in national economy is inexorable since Indonesia is also gifted with young and productive population, proven by the beneficial dependency ratio,” said M. Romli.