REPUBLIKA.CO.ID, JAKARTA - Subsidiary of World Bank, International Finance Corporation (IFC) makes commitment with Ministry of Justice and Human Rights to improve investment climate in Indonesia to create strong economic growth.

"IFC commits to support Indonesia's effort to achieve sustainable growth," Country Manager of IFC in Indonesia, Sarvesh Suri said after signing Memorandum of Understanding (MoU) with the ministry in Jakarta this week.

This MoU mentions that IFC will help the ministry to simplify establishment process of Limited Liability Company (PT) and also its registration process through development of mobile assets, such as agricultural products. Suri said the it would be easier to start a business, improved investment climate and economic growth.

Indonesia ranks 166th out of 185 countries in terms of ease of starting a business, based on a report in 2013 while Singapore sits in the first place. Indonesia ranks 129th in terms of ease of obtaining credit. It shows significant backwardness of Indonesia compared to neighboring countries. It also shows urgent need for Indonesia to reform its regulation and legislation. 

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