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Showing posts from October 25, 2004

World Bank: Indonesia has terrible business climate

LATEST NEWS October 24, 2004 Indonesian President Susilo Bambang Yudhoyono campaigned on a platform of improving his nation's business climate. Good idea. The World Bank says Indonesia's current business climate is one of the worst in the world. An unflinching column in the nation's largest newspaper lays out the bad news. The Jakarta Post says the World Bank ranks Indonesia along with Laos, Cambodia and Vietnam in the bottom quartile of 145 nations surveyed. "Entrepreneurs in those countries found it more difficult to start, operate, or close a business than in most other East Asian nations," the newspaper said. "Seven economies in the East Asia-Pacific region ranked in the top quartile... New Zealand, Australia, Singapore, Hong Kong, Thailand, Taiwan and Malaysia." In East Asia, on average, it takes an entrepreneur nine prosecures, 60 percent of income per capita and 61 days to found a business. In Indonesia it takes an average 151 days