Indonesia issues new economic policy, focuses on SMEs, property & pharmaceutical industries

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Cabinet Secretary Pramono Anung, accompanied by Coordinating Minister for the Economy Darmin Nasution briefed the press on the eleventh economic policy packages (Image : Cabinet Secretary/setkab.go.id)

JAKARTA (TheInsiderStories) – The Indonesian government on late Tuesday (March 29) issues eleventh (XI) economic policy packages with a focus on supporting small and medium enterprises, property investment, logistic and pharmaceutical industries.

The economic policy package was announced by the Coordinating Minister for the Economy Darmin Nasution and Cabinet Secretary Pramono Anung.

The policy packages are consisting of: first, credit allocation for small business with export oriented (KURBE). Through this policy, SMEs have the opportunity to get comprehensive export financing in the form of working capital and investment credit.



Secondly, supporting the development of Real Estate Investment Trust (REITS). Under this new policy, companies can issue REITS with competitive tariff as a move to generate cheaper long-term funding that will be used to develop infrastructure and real estates. This is in line with the medium-term national development program (2015-2019).

Thirdly, controlling risk and assuring efficient flow of goods at ports (Indonesia Single Risk Management/ISRM). The policy aims to speed export and import services in order to create certainty in business, efficient permit and procedures as well as reducing dwelling time at ports.

Fourthly, developing pharmaceutical and health equipment industry through assuring the supply of pharmaceutical raw products and equipments in order to improve health services and ensure affordability of medical services.

Cabinet Secretary Pramono Anung said with these policies, business players, including SMEs are expected to run their business efficiently and help support their business growth.

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Source: The Insiderstories
Indonesia issues new economic policy, focuses on SMEs, property & pharmaceutical industries

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