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More efficient regulatory process needed to ease foreign investment: Kalla
The new future of Asia: Vice President Jusuf Kalla has said Indonesia needs to improve the efficiency of its regulatory system to draw more foreign investors
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span class="inline inline-center">The new future of Asia: Vice President Jusuf Kalla has said Indonesia needs to improve the efficiency of its regulatory system to draw more foreign investors. (Antara/Widodo S.Jusuf)
Vice President Jusuf Kalla has said Indonesia needs a more efficient regulatory system to ease the entry of foreign investment into the country.
Speaking about his participation in the Boao Forum for Asia (BFA) in Boao, Hainan, China, on Thursday, Kalla said Indonesia presented a promising market opportunity for Asian industrial countries, such as China, Japan and Korea.
'Business players from all industrial countries, especially China, need a wider market and cheaper production base compared to what they can get in their home countries. They also need big resources. We, Indonesia, have both of them,' said Kalla as quoted by Antara news agency.
One important thing Indonesia needed to do was to ensure that its regulatory system was much more efficient, so that it would be easier for foreign investors to enter the country, the Vice President said.
'With a more efficient regulatory system, it will be more efficient for the industrial players to come to Indonesia because we have a lot of resources, especially human resources,' he said.
Kalla was set to speak about the future of Asia and the increasing economic cooperation among countries in the region during the Boao Forum for Asia.
'I'm going to speak about what Indonesia view is regarding the Future of Asia. Overall, I will speak about the potential to strengthen cooperation and look for similarities and much more open investments among Asian countries,' he said.
Data shows that China sees Indonesia as its second-biggest market for investment after the US. Total realized foreign investment, excluding the downstream oil and gas and finance sector, from China to Indonesia amounted to US$2.1 billion between 2010 and 2015.
According to the Investment Coordinating Board (BKPM), China ranks 11th among other nations in terms of amount of realized investment in Indonesia.
The Indonesian and Chinese governments are targeting an investment commitment of up to $30 billion from China in Indonesia in 2016.
Trade Minister Thomas Lembong, BKPM chairman Franky Sibarani, Foreign Deputy Minister AM Fachir, Vice Presidential Office head Mohamad Oemar and Indonesian Ambassador for China Soegeng Rahardjo accompanied Kalla at the Boao conference themed 'The New Future of Asia: New Dynamics and New Vision'. (ebf)(+)
