Up! Indonesia Ranks of 68th in the Global Index of Economic Openness

TRIBUNBATAM.id -  Indonesia is ranked of 68th in the 2019 Global Index of Economic Openness (GIEO) released by the British research institution, Legatum Institute. 

Reporting from Antara, Tuesday (10/15/2019), Director of the Legatum Institute's Policy, Stephen Brien, in Jakarta, explained that Indonesia this year rose one rank compared to 2018 in ranked of 67th.

"Indonesia's economic openness was improving, namely in the rank of 68, up six ranks in the last 10 years," he said during a discussion in Jakarta on Tuesday. 

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According to Brien, the improvement is happening all over the world, but especially in Indonesia, the improvement is related to the strengthening of the investment environment and business creation. 

Indonesia achieved a total score of 55.9 in the 2019 Openness Global Economic Index.

The total score is obtained from a number of assessment indicators, namely market access and infrastructure, investment environment, enterprise conditions and governance.

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Of the 157 countries listed in the survey, aspects of the investment environment in Indonesia get the lowest ranked at 53, followed by enterprise conditions at 61, government at 63 then market access and infrastructure at the highest ranking of 85. 

Even though it recorded a ranking improvement, since 10 years ago, Indonesia only rose by six ranks from position 74 in 2009 to 68 in 2019.

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The Legatum Institute has compiled the Global Index of Economic Openness as a tool for leaders and advisers around the world to help plan an economic growth and development agenda. 

The institute's research shows that the economically open countries are more productive.

On the other hand, in an uncompetitive market, growth stagnation occurs, industries that don't developed, until the crony capitalism that thrives. (*) 

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