Industry Ministry to scrap 18 regulations
17 Ocotber 2019
Industry Ministry to scrap 18 regulations
Eighteen regulations are under the final process, with 12 of them being scrapped and six others being simplified. The process has been accelerated so they can be implemented before the inauguration of the new cabinet.
Jakarta (ANTARA) - The Industry Ministry, Airlangga Hartarto, plans to scrap 18 regulations as part of efforts in preparation for the continuing US-China trade war which is predicted to lead to a global crisis.
"Eighteen regulations are under the final process, with 12 of them being scrapped and six others being simplified. The process has been accelerated so they can be implemented before the inauguration of the new cabinet," Hartarto said in a statement released on Wednesday.
The 18 regulations mostly deal with the procurement of raw materials for industry, particularly the metal industry.
The metal industry is one of the main sectors because other industries need its products. In addition, the metal industry is also important because its derivative products are export-oriented, he said.
"Metal is a raw material for many industries. In fact, the metal industry has asked for protection," he said.
The products of the metal industry will be protected by issuing the industry minister's regulation. The regulations related to raw materials will be eased for domestic and export markets.
The decision to scrap some regulations in the industrial sector was based on inputs from business agents and upon instructions from President Joko Widodo.
The facility is expected to attract more foreign and local investors to realize their investment plans and business expansion so that they can deepen the structure and improve the competitive edge of the domestic industry.
