Economics
Jokowi Vows Sweeping Indonesia Reforms: ‘I Have Nothing to Lose’
- Corporate tax rate to be slashed in bid to boost investment
- Jokowi to overhaul labor laws and rules on foreign ownership
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Indonesian President Joko Widodo vowed to implement a wave of reforms to attract foreign investment as he looks to unleash the potential of Southeast Asia’s biggest economy during his second term in office.
In an interview at his Jakarta office on Friday, the president -- commonly known as Jokowi -- pledged to quickly lower corporate taxes, ease stringent labor laws and lift curbs on foreign ownership in more industries. Emboldened by a landslide election win in April, the president insisted he had a mandate to push key reforms through parliament.