Indonesia drops one spot to 73rd rank in EODB Index

Jakarta (ANTARA News) – Indonesias ease of doing business (EODB) ranking fell one place to 73rd out of the 190 countries, according to the World Banks (WBs) EODB Index 2019.

“Indonesia has continued to improve its business climate and reduce inequality in global best practices regarding regulation on domestic small-and medium-scale businesses,” WBs Country Director for Indonesia and Timor Leste Rodrigo A. Chaves stated here on Thursday.

Indonesia was ranked 72nd in the WBs EODB Index 2018.

However, the countrys EODB score has increased, from 66.54 in 2018 to 67.96 in 2019.

Other ASEAN countries, such as Malaysia, leapfrogged to the 15th rank, with a score of 80.60, while Vietnam ranked 69th, with a score of 68.36.

Doing Business 2019 report captured annual measurement by the WB Group in the EODB among global economies.

The report analyzes regulations for doing business in a country that covered starting business and operation, trading across border, paying taxes, and resolving insolvency, among others.

According to the report, the indicator for starting a business in Indonesia has become easier by integrating registration of some different social insurances and reducing the public notary cost in Jakarta and Surabaya.

Time to start a business has declined three days to only 20 days, while the cost to start a business declined 10.29 percent to 6.1 percent of the income per capita.

Indicator for getting credit has improved, with increased information and wider access to credit for small firms, decline in interest rate, improvement in the borrowers discipline, and monitoring of credit risk.

The indicator for registering property has improved, with a shorter time to settle land disputes in court.

Source: ANTARA News