The State News Agency Antara reports that M.S. Hidayat, the Minister for Industry, is blaming Indonesia Ďs inefficient bureaucracy and lack legal certainty as roadblocks to growing the industrial sector through national investment.
"An inefficient bureaucracy hinders the growth of national investments, especially in the industrial sector. In addition, legal uncertainty is a major concern for investors," commented Hidayat on Wednesday, December 5, 2012.
Citing Indonesiaís recent macroeconomic growth, Hidayat says many challenges remain in efforts to develop the industrial sector.
"Indonesia's economy is growing at a fast pace. In fact, in Asia, IndonesiaŅs economic growth is ranked second, after China's economic growth. At the beginning of 2010, we started facing difficulties since 220 (out of 3,000) domestic commodities were less competitive than China's," he explained.
Hidayat said the national industrial sector had been experiencing growth through the end of 2011 at a rate if 2.85%. Growth for the year 2010 stood at only 2.5%.
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