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Ministry to scrap expiry date for SIUP, TDP
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Confident pitch: President Joko "Jokowi" Widodo delivers remarks on Nov. 29 in front of hundreds of participants of the 2016 Forbes Global CEO Conference in Jakarta, in which he highlighted the government’s numerous efforts to attract investors to the country, including by streamlining procedure to obtain business permits. (Presidential Office/Press Bureau)
T
he Trade Ministry will soon introduce a regulation that will make business permits (SIUP) and registration certificates (TDP) valid indefinitely.
“Hopefully in one or two weeks, we can come up with the regulation,” Karyanto Suprih, the ministry’s secretary-general, said on Friday.
Business players in Indonesia currently have to renew the two licenses every five years, a procedure that is lengthy.
(Read also: Speedy licensing pushed for energy)
Once the regulation is issued, Karyanto said his side would disseminate information on the new rule to relevant institutions and regional administrations.
“For the regulation, we’ll coordinate with relevant ministries and regional administrations,” he said.
Businesses, meanwhile, have lauded the initiative.
“This is good because it will free us from unnecessary costs because the permits will be valid forever, except if a business closes down,” said Adhi Lukman, chairman of Food and Beverage Association (GAPMMI).
Currently, local businesses renew the permits through the local trade agency while foreign firms need to apply for renewals from the Investment Coordinating Board (BKPM). Document renewal is not costly but time-consuming as it takes around two weeks, Adhi said. (hwa)
