Objective/Meaning  The signing of RCEP in 2020 had an important impact on promoting the integration of free trade in Asia. As an agreement country of RCEP, Indonesia would also have a certain impact on its trade and investment. Therefore, it was of positive significance to study how to improve the business environment of Indonesia on this basis to attract the investment from RCEP member countries.

  Methods/Procedures  Based on the panel data of social and economic development of RCEP member countries from 2010 to 2020, the impact of changes in the business environment of Indonesia on attracting FDI from RCEP countries was empirically studied in this paper.

  Results/Conclusions  The study found that optimizing the business environment of Indonesia, improving the level of per capita income and industrialization, and giving full play to its population and resource advantages had a significant role in attracting the foreign investment from RCEP countries. On the basis of empirical analysis, the relevant policy suggestions were further put forward to optimize the business environment of Indonesia from the aspects of strengthening the administrative supervision, enhancing the advantages of human resource, improving the level of industrialization, and creating the dual-cycle support points, thus providing useful inspiration for Indonesia to better attract FDI, integrate into the economic and trade cooperation of RCEP and further expand Chinese investment in Indonesia.