Presiden Joko Widodo (Jokowi) saat berpidato membuka Hari Ulang Tahun (HUT) Pasar Modal Indonesia ke-38, di Gedung Bursa Efek Indonesia (BEI), Jakarta, Senin (10/8/2015). Jokowi mengatakan lambatnya perekonomian bukan hanya terjadi di Indonesia saja. AKTUAL/EKO S HILMAN

Jakarta, — Indonesian President in a cabinet meeting today, Wednesday (9/2) said that Indonesia needs quick and massive deregulation to create a good climate of economy and to attract much needed investment in his country.

“We need to carry out massive deregulation and introduce new regulations that will really create a good climate for the economy as soon as possible,” Widodo said.

The President also said Indonesia now is like are racing against time, so that it should be taking a step fast. “We are racing against time,” he added.

Although the data such as the capital adequacy ratio, capital adequacy ratio, or indonesian banking now are above 20 percent. This is also very good if compared to other countries, and this is one of the most excellent in Asia, Widodo added.

Widodo said, more than 110 regulations were identified as being negative for investors. In these case, Widodo promised to work with cabinet minister to tweak laws seen as obstacles to investment. And he plans to review some of regulations and decide as early as this week on which one to eliminate.

“There are more 100 regulations were identified not to give a good climate for investor. I hope in this week there will be a meeting to discuss it, to immediately resolved which one does not support the business climate, which one need to eliminate or examined repeated,” Widodo said.

“I want there to be revisions to laws that hinder anything, be it goods, services procurement or the investment climate,” he added.

This week also, The President wanted to continue a meeting with Indonesia’s Chamber of Commerce and Industry (Kadin) and a some of association the business world.

According to him, if the acceleration it’s not done then the movement of the business environment will be difficult to grow. “The business world will be difficult to issue their money in the framework of investment, and also capital flows, the current money from the outside in will be stunted,”he said.

Indonesian Leader also want to immediately revision against legislation that the process of inhibiting the movement of the economy including the procurement of goods and services and issues related to improve the business climate.

“I hope some of legislation being held, but some of revision needed the most it should be in hurry,” he said.

He added that assesments of regression who have been ongoing, “and i hope this month we will know which one to introduced to the council to revised and which one to accelerated, as the JPSK legislation is needed to law enforcement.”