12 hours ago
10
February 10, 2025 | 07:05 pm
TEMPO.CO, Jakarta - Minister of Investment and Industrial Estates/Indonesia Investment Coordinating Board (BKPM) Rosan Roeslani stated that they will accelerate the simplification of investment regulations to mitigate the impact of the trade war between the United States and China.
He explained that the regulatory changes are made to enhance competitiveness, considering several neighboring countries do the same. There are three aspects to be adjusted, namely the regulatory framework, public services, and business efficiency.
"First, in terms of business efficiency, we need about 65 days, whereas only 1 to 3 days should suffice. This is one of the things we will improve," he said during the agenda 'World Bank New Insight On The Business Environment In Indonesia: Exploring The World Bank's Business Ready Report' in Jakarta on Monday, February 10, 2025.
Furthermore, Rosan mentioned that the acceleration is done to attract more investors. He said this would allow Indonesia to take advantage of the trade war between the U.S.-China trade war. This is because Indonesia has advantages in natural resources that other Asian countries do not, such as mineral resources and efforts in the downstream industry of renewable energy.
"So, the most important thing we convey is that we can always maintain stability. That becomes one of our positive points in inviting future investment," he said.
Furthermore, Rosan said that the acceleration of simplifying regulations for the entry of foreign capital will be carried out together with the Ministry of Law, the Coordinating Ministry for Economic Affairs, and other related ministries. "We will be the focal point together with other ministries," he said.
Previously, the Chinese government announced that they would impose additional tariffs starting February 10 on imports from the U.S. This includes coal, LNG, crude oil, agricultural machinery, and large vehicles and pickup trucks.
China's move is a reaction to the recent U.S. policy. U.S. President Donald Trump signed an executive order to tax imports from Canada, Mexico, and China.
The U.S. imposed a 10 percent tariff on Chinese goods on top of the existing tariffs. The decision also revoked the previous de minimis rule, which exempted goods worth less than US$800 from entering the U.S.
Bai Ming, deputy director of the International Institute for Marketing Research at the Chinese Ministry of Commerce, said that a new phase of the trade war between the world's two largest economies "has begun."
According to him, China's retaliatory measures target key sectors in the U.S. and minimize the impact of the trade war.
Sita Planasari contributed to the writing of this article.
Editor's Choice: India's Modi to meet Trump with planned tariff concessions
Click here to get the latest news updates from Tempo on Google News
Marriages in China Plunge by a Record in 2024, Fanning Birthrate Concerns
33 menit lalu
Marriages in China plummeted by a fifth last year, the biggest drop on record.
Indonesia Expects U.S. Investments in Q1 of 2025, Says Minister
40 menit lalu
Minister of Investment and Downstream Industry Rosan Roeslani stated that a number of foreign investors will enter in the first quarter of 2025.
Australia Says Its Steel, Aluminum Exports Create American Jobs
2 jam lalu
Trade Minister Don Farrell said Australia's PM is scheduled for a talk with U.S. Donald Trump.
TikTok Affirms Commitment to U.S. User Data Protection Amid Looming Ban
2 jam lalu
TikTok has established a subsidiary, TikTok U.S. Data Security Inc. to protect user data in the country.
India's Modi to meet Trump with planned tariff concessions
5 jam lalu
Indian Prime Minister Narendra Modi is preparing additional tariff cuts that could boost American exports and avoid a potential trade war.
Nearly Half of U.S. Citizens Reject Trump's Gaza Takeover Plan
7 jam lalu
Survey shows that 47 percent of American citizens consider U.S. President Donald Trump's plan to take over Gaza Strip as a 'bad idea'.
Today's Top 3 News: Kim Jong Un Says US, Japan, South Korea Cooperation Only Worsens Tensions
20 jam lalu
Tempo English compiled the top 3 news on Sunday, February 9, 2025.
Anindya Bakrie Believes US-China Trade War Could Open Opportunities for Indonesia
1 hari lalu
Chair of Indonesian Chamber of Commerce & Industry (Kadin) Anindya Bakrie says that US-China trade war can bring opportunities for Indonesian economy.
Indonesia Urges Citizens in U.S. to Follow Immigration Laws as Trump Tightens Restrictions
1 hari lalu
The Ministry of Foreign Affairs urges Indonesians in the U.S. to comply with immigration regulations, which have been tightened by Donald Trump.
U.S. Tariffs on China; Bank Indonesia Talks of Impact on Indonesia's Exports
1 hari lalu
High U.S. tariffs could affect strategic sectors that have long relied on the Chinese market.
