Jakarta (ANTARA) - The Ministry of Finance is preparing several strategic measures, including streamlining regulations, simplifying business permit procedures, and easing rules that hinder business growth, to create a more conducive and competitive business ecosystem.
The ministry’s Director General for Economic and Fiscal Strategy, Febrio Kacaribu, said in a press conference on Tuesday that the government is currently preparing a Presidential Regulation on the Priority Program Acceleration Team.
The team will be led by Coordinating Minister for Economic Affairs Airlangga Hartarto and Finance Minister Purbaya Yudhi Sadewa, he confirmed. It will also involve the Ministry of Investment and Downstreaming.
The formation of the team aims to ensure better budget realization for the president’s flagship programs. It will focus on programs whose progress has lagged behind, particularly those with low budget absorption, and assess their effectiveness in supporting national development.
According to Kacaribu, regulatory debottlenecking is key to ensuring that businesses can operate with greater certainty. Some measures the government has taken to improve the system include promoting the “silence is consent” approach for business permit issuance.
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He explained that this approach requires officials to respond to permit requests within a set timeframe, giving businesses clarity on the status of their applications.
Additionally, the government has set clearer guidelines for the domestic component level (TKDN) of products and relaxed regulations on the import of industrial raw materials.
The impact of these deregulation efforts can already be seen in the agricultural sector, Kacaribu noted. Earlier this year, the government removed 145 regulations on fertilizer distribution, allowing farmers to gain faster and easier access to fertilizers.
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Starting January 1, 2025, the public will be able to purchase fertilizers directly and use them immediately, he added. This policy is expected to drive national grain production and boost the agricultural sector, in line with President Prabowo Subianto’s goals, he stressed.
The ministry, along with tax and customs authorities, will continue engaging with businesses to listen to their concerns and identify additional regulations that hinder development.
