Busan-Korea, Nov. 25 -- President Joko Widodo (Jokowi) assured a select number of South Korean Chief Executive Officers (CEOs) of the Indonesian government's commitment to create more attractive investment climate in the next five years.

"My commitment is clear. In five years' time, the investment climate will increasingly become attractive. We will continue to simplify regulations while at the same time streamlining bureaucracy," Jokowi said at a working lunch meeting with a select number of South Korean CEOs at Lotte Hotel in Busan, South Korea, on Monday.

This year Indonesia will apply an "omnibus law" to slash nearly 70-74 percent of laws simultaneously . As such regulations impeding investment inflows will be scrapped, he said.

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