Indonesia: Impending economic policy package to quicken import, export processes

• The government plans to issue its 17th economic policy package related to exports and imports to reduce time for visa processes, an official said on 30 Jan 18. Since Sep 15, the government has released a series of policy reform packages that aim to improve the investment climate in the country by introducing simpler regulations, easier procedures and a series of fiscal incentives.
• One of the regulation changes in the upcoming package will be to eliminate the requirement for companies to obtain recommendation or sponsor letters from ministries to import raw materials, Edy said.
• Edy said the policy package is expected to help local producers meet their raw material demands on time, without having to deal with bureaucratic red tape at the ministerial level.
• Previously, Finance Minister Sri Mulyani Indrawati said the government would ease imports by cutting more than half the number of items currently on the prohibited or severely restricted list to accelerate handling processes at ports across the country.

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