Jakarta, hitclubapk3 Indonesia
—
Business Competition Supervisory Commission (
KPPU
) highlights
business competition index
Indonesia is lower than neighboring countries, including Singapore and the Philippines.
KPPU Deputy Chair Aru Armando said Indonesia’s market competition score in the World Bank B-Ready 2024 report was at 52. This figure is below Vietnam at 57.67 and Singapore at 62.29.
“The indicator score for the first business in Indonesia in 2024 is 5. This is far below Singapore, and below Vietnam,” he said at a media gathering at ABETO-Menteng, Jakarta, Wednesday (3/12).
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Aru said that significantly improving the quality of business competition was needed to achieve economic growth of 8 percent.Healthy business competition is not only a complement to economic growth, but also to its infrastructure.
Based on studies he found, there is a positive correlation between the business competition index and economic growth.The reason is, one of the keys to economic growth is investment.
“When investment wants to come in, investors who want to come in will definitely look at one of the indicators, whether the business competition climate in that country is good or not. If for example the business competition climate is not good, they will certainly think again,” he said.
“If you want economic growth then improve competition because a good competitive climate, a healthy competitive climate will automatically attract investment to Indonesia,” added Aru.
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(fby/pta)
