REPUBLIKA.CO.ID, SEMARANG -- Central Java is ranked sixth among 34 provinces in Indonesia in terms of investment destination. Finance Minister Sri Mulyani Indrawati stated that while addressing a seminar on Business and Investment Prospects in Central Java in 2019 here on Wednesday.
"Hopefully, Central Java would be able to compete (with other provinces) in improving the investment climate," she remarked.
Central Java, which has high potential, needs to improve its rating as an investor-friendly investment destination, she emphasized. The province's large population is one of the areas of potential that it can capitalize on to attract investment, she noted.
Among the efforts that the province should make to attract investment are improving policies, introducing integrated one-stop services, and reforming bureaucracy, she said.
"Improve services to make investors feel welcomed," she remarked.
The minister said the success in attracting foreign capital to Central Java is one of the keys to improving the quality of the provincial budget. The quality of provincial budgets varied from one province to another, she pointed out.
Many regions spent much of their budget on personnel salaries that reached an average of 36 percent of their overall expenditures, she added.