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BKPM expected to boost investment in upstream industry
The Capital Investment Coordinating Board (BKPM), under its newly installed chief Franky Sibarani, is expected to boost investment in upstream industry in an effort to reduce imports, an employers association chief has said
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he Capital Investment Coordinating Board (BKPM), under its newly installed chief Franky Sibarani, is expected to boost investment in upstream industry in an effort to reduce imports, an employers association chief has said.
"Most of our raw materials are still imported. We want upstream and component industries to be involved here. They could be provided with incentives so that there will no longer be a need for imports," Employers Association (Apindo) Chairman Sofjan Wanandi said on Thursday night as quoted by Antara news agency.
The Apindo chairman made the remarks in a function held to bid farewell to the previous BKPM head Mahendra Siregar.
He said that the new BKPM chief should be able to sort out investment entering Indonesia in the future, giving priority to industries producing raw materials.
"We want to receive as much investment as possible but we also hope that investment will be arranged so that we no longer receive investment in the same sector. We should remember that in the coming five years we should already be able to produce everything, both raw materials and finished goods. We should no longer produce goods from imported raw materials," Sofjan said.
Based on the directives of President Joko Widodo, the BKPM is expected to carry out improvements and licensing simplification so that barriers to investment and implementation projects can be removed. (hhr)
