Jakarta, May 24 (Antara) - In efforts to attract more investment abroad, the Indonesian Capital Investment Coordinating Board (BKPM) is launching a week-long promotional campaign in the United States and Canada from May 23 (May 24 in Indonesia) to 28.
During the investment promotional activities, the BKPM will comprehensively explain efforts made by the Indonesian government in improving the business climate and planned projects, such as deregulatory measures, reforms and various infrastructure projects, such as power plants, seaports, airports, railway tracks, toll roads, an irrigation system, dams and sea toll lanes.
During a meeting with the World Bank on Monday in Washington, BKPM Chief, Franky Sibarani explained the progress of Indonesian economic development and infrastructure as the main driver of economic growth in Indonesia.
"We have presented all the deregulatory measures made with regards to 10 main indicators (of ease of doing business/EODB)," he stated.
The Indonesian government, he said, has decided to carry out equitable development across the country. As part of this, infrastructure development is the biggest ever program in the history of the country.
He also explained that the one-stop integrated service (PTSP) system being applied in Indonesia is providing services for investors at the BKPM headquarters and in other PTSP centers at the provincial and district levels. PTSP provides a three-hour service for the completion of the required licensing documents.
To make doing business easier, Franky explained the details of deregulation and the implementation of 43 regulations for the 10 indicators of EODB, namely ¿Starting a Business, Registering Property, Dealing With Construction Permit, Getting Electricity, Paying Taxes, Getting Credit, Trading Across Border, Protecting a Minority Investor, Enforcing Contract and Resolving Insolvency, based on the loci survey in Jakarta and Surabaya (East Java).¿
Franky said the government is also planning to build new power plants with a combined capacity of 35 GW (gigawatts), 24 new seaports, 15 new airports, 2,024 new railway tracks, 621 miles of new toll roads, one million hectares of agricultural irrigation system, 49 dams to irrigate the new agricultural fields, and the operation of sea tolls in an effort to link the main ports in Indonesia with the major ports of the world.
"All the infrastructure projects are scheduled for completion by 2019," he stated.
During his visit to the World Bank's headquarters, Franky was accompanied by Supreme Court Justice Syamsul Maarif, the Director General for Public Law Administration, Freddy Harris, the Head of the Monitoring Affairs of the Financial Service Companies of the Financial Service Authority (OJK), Eko Rizanoordibyo, the Commercial Division Head of state-owned electricity firm PLN, Benny Marbun and representatives of the Indonesian Embassy in Washington.
On the occasion, Supreme Court Justice Syamsul Maarif stressed that reforms have made the judicial system in Indonesia simpler, more efficient and fairer, particularly with regards to the process of contract implementation in a small claim court and in a bankruptcy case.
The Director General for Public Law Administration, Freddy Harris of the Ministry of Law and Human Rights also explained the improvement in the process of starting a business for the establishment of a limited liability company. The minimum capital requirement has been dropped for small-scale businesses, expansion of online fiduciary access and limitation of fee for curators, based on the value of debts or on working hours for asset settlements.
PLN Commercial Division Head, Benny Marbun on the other hand, explained the improvements achieved in the installation of electricity connections, which has been shortened from 80 days to 22 days and the reduction in power installation costs by 20 percent.
OJK pointed out the improvements in the indicator of getting credit with the implementation of two private bureaus for credit commitment. Besides, it also showed an improvement in the transparency index and in the management responsibility, as well as in the right to subscribe to any securities.
The visit to the World Bank constitutes the government¿s efforts to improve the rating of its ease of doing business in Indonesia. Since 2012, the Indonesian rating of EODB continues to increase whereas in 2016 it has reached the 109th position, yet it is still far from President Joko Widodo¿s target of reaching the 40th position in 2017.
In the meantime, the World Bank has appreciated the serious efforts made by the Indonesian government in improving the EODB in Indonesia, particularly for small and medium-scale businesses.
"The appreciation is particularly for small and medium domestic firms. We have had in-depth discussions on reforms, deregulation and their implementation on small and medium-scale businesses, particularly on the indications for businesses getting electricity," Franky said in a press release received in Jakarta on Tuesday.
Earlier, BKPM chief Franky Sibarani is scheduled to meet 13 potential investors from the US, interested in investing in Indonesia. "The 13 investors are companies doing business, among others, in the oil and gas industry, metal industry, pharmacy industry, mining industry, bottle and glass industry, automotive industry, data processing industry, defense industry and banking industry," Franky stated in a written statement made available to Antara on Monday.
The US investors, he said, have a keen interest in making investment in Indonesia. The FDI Market's outward investment data showed that they are the biggest (investors) in the world.
Unfortunately, the amount of realization of their investment in Indonesia does not yet reflect the real potential. In the first quarter of 2016, realization of the US investment in Indonesia was US$10 million, placing the country in the 21st position on the list of foreign investor countries.
Therefore, the BKPM is intensifying its investment marketing activities in an effective and focused manner to meet the needs of companies interested in investing in Indonesia.
"We will also explain at the event the paradigm shift brought about by the BKPM from a licensing regime to a service regime," he explained. Franky is planning to launch investment promotion activities in the US and Canada from May 23-28, 2016.
Five business forums will be held in five cities of these two countries. The forums will be held in cooperation with the Indonesian representatives in the United States and Canada.
The business forums will be held in Salt Lake City and Los Angeles in the United States and in Toronto and Montreal in Canada.
The United States is categorized as a priority nation for investment promotion. The BKPM data showed that in 2015, the value of the US investment in Indonesia stood at $893 million, invested in 261 projects, mostly in the mining sector.
In terms of investment commitment, the value of the investment was recorded at $4.8 billion, spread over 76 projects.***3***(A014/INE/B003)EDITED BY INE
(T.A014/A/BESSR/Bustanuddin) 24-05-2016 19:49: |
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