Indonesian parliament passes new law to spur investment-Xinhua

Indonesian parliament passes new law to spur investment

Source: Xinhua| 2023-03-21 17:50:00|Editor: huaxia

JAKARTA, March 21 (Xinhua) -- The Indonesian parliament passed an emergency regulation on job creation into law on Tuesday.

The regulation was issued by President Joko Widodo in December, with an aim to create a quality business and investment climate for small and medium entrepreneurs and foreign investors in Southeast Asia's largest economy amid fears of a possible global recession.

Indonesia has set an investment target of 1,400 trillion Indonesian rupiahs (about 91.28 billion U.S. dollars) this year, up from last year's target of 1,200 trillion rupiahs.

The new law is expected to offer more convenience for domestic and foreign investors doing business across the country.