Indonesia's 2024 Business Climate: World Bank Version, Innovation Remains Weak

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Adi Ahdiat 26/02/2025 16:33 WIB

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According to the World Bank's B-Ready 2024 report, Indonesia's business climate is considered favorable in terms of labor, but remains weak in innovation, financial services, and bankruptcy procedures

Indonesia's Business Climate Score Based on the World Bank's B-Ready Report (2024)

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Indonesia's Business Climate Score Based on the World Bank's B-Ready Report (2024)

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Indonesia's business climate is considered good in terms of labor, but remains weak in innovation, financial services, and bankruptcy procedures.

This was stated by the World Bank in its Business Ready (B-Ready) 2024 report.

B-Ready is a new World Bank project to assess the global business and investment climate, replacing the Ease of Doing Business which was discontinued in 2021.

In this new project, the World Bank assesses the business climate through 10 main pillars, namely:

1. Business entry;
2. Business location;
3. Utility services;
4. Labor;
5. Financial services;
6. International trade;
7. Taxation;
8. Dispute resolution;
9. Market competition and innovation; and
10. Business insolvency.

The World Bank surveyed approximately 29,000 private companies and 2,500 business experts on the conditions of these pillars in 50 countries.

The survey results were then formulated into a score on a scale of 0-100, with the assumption that the higher the score, the better the condition.

In 2024, Indonesia received a score considered good in terms of labor, utility services, and business location, with scores above 65 each.

"Indonesia provides employment centers and training to support job seekers, provides regulatory support for the provision of internet and water, and provides transparent information regarding building permits, business zoning, and land use," said the World Bank in the B-Ready 2024 report.

However, the World Bank assesses that Indonesia's business climate still needs strengthening in terms of innovation, financial services, and bankruptcy procedures, each of which received a score below 60.

"Indonesia does not provide science centers or technology transfer centers, collateral registration is not notification-based, and does not provide special bankruptcy regulations for micro, small, and medium enterprises," they said.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's 2024 Business Climate: World Bank Version, Innovation Remains Weak

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Indonesia's 2024 Business Climate: World Bank Version, Innovation Remains Weak

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