T

he Investment Coordinating Board (BKPM) has started offering the promised three-hour licensing service for certain investors planning to open businesses in a bid to attract large-scale investment and, eventually, create jobs in the country.

The service, which is part of the government'€™s second economic policy package, will allow prospective investors with a minimum investment of Rp 100 billion (US$7.33 million) and/or a plan to employ more than 1,000 workers to have their preliminary permits processed at the BKPM'€™s one-stop integrated service (PTSP) within three hours.

BKPM deputy for investment services Lestari Indah said her office would also assign officers to help investors apply for their permits.

'€œAfter consulting with the investment services director on the proposed project, the investor will be accompanied by a BKPM priority investment officer,'€ she said during the service'€™s launch event in South Jakarta on Monday.

The officer would handle the entire process, while the investor would just sit and wait comfortably while enjoying a cup of coffee, she added.

The service requires the presence of the investor and their business partners to sign documents. If the business partner is a company, its director or whoever represents the company needs to come in person.

They also need to bring required documents, such as business flow charts and identity cards.

The permits issued by this particular service include a principal BKPM investment permit, a company deed and its legalization by the Law and Human Rights Ministry and tax identification number (NPWP).

The government recently added a land-booking letter issued by the Agrarian and Spatial Planning Ministry to the package.

The ministry'€™s director for controlling and utilization of abandoned land, Adi Darmawan, said that an official at the integrated licensing office would provide general information on investors'€™ proposed plots of land for their businesses.

'€œWe will check the spatial information on our online system and issue the land map and the booking letter,'€ he said.

The letter would be valid for 14 days, and during that period the investors should manually process the land acquisition documents with the local administration.

Lestari said the service aimed to encourage investment in labor-intensive industries as well as attract large investments into the country.

BKPM announced last Thursday that so far this year investment realization amounted to Rp 400 trillion, which is a 16.7 percent increase compared to last year'€™s Rp 342 trillion.

Almost all prioritized sectors saw an increase in investment value, but labor-intensive industries, such as textiles, footwear, furniture and food and beverages, saw a 13.4 percent drop.

Meanwhile, the investment activities had absorbed 1.06 million workers so far this year, a 10.4 percent rise compared to last year'€™s 960,336 employees, the data showed. (prm)