Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(37)

Comparative Study on the Perception and Response of Singapore and Indonesia

In 2007 Indonesia introduced a new investment law aimed at making Indonesia more attractive to foreign investors. 

Indonesia is one of the few countries in the ASEAN that has promulgated a competition law and has established an independent agency in charge of competition policy – the Commission for the Supervision of Business Competition. 

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(35)

Comparative Study on the Perception and Response of Singapore and Indonesia

In 2007 Indonesia introduced a new investment law aimed at making Indonesia more attractive to foreign investors. Indonesia is one of the few countries in the ASEAN that has promulgated a competition law and has established an independent agency in charge of competition policy – the Commission for the Supervision of Business Competition.

Larger firms tend to have better knowledge about the existing FTAs and, in general, are more optimistic than smaller ones. This is true also with regard to the AEC.

 

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(33)

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

In 2004 Indonesia introduced a two-phase tariff harmonization program with the main objective of moving towards low and uniform tariff rates and avoiding tariff escalation. 

As a member of the WTO and the ASEAN, Indonesia has submitted to commitments for services liberalization at the global and regional levels to the General Agreement on Trade in Services (GATS) and the ASEAN Framework Agreement on Service (AFAS). In 2007 Indonesia introduced a new investment law aimed at making Indonesia more attractive to foreign investors.