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Jakarta Post

Riau Islands FTZs to cut red tape

  • Fadli

    The Jakarta Post

Batam   /   Tue, October 28 2008   /  10:26 am

The Batam, Bintan and Karimun (BBK) Special Economic Zone Commission has ensured speedy licensing procedures free from illegal levies in a bid to attract foreign investors impacted by the global financial crisis, given lower local production costs compared to other countries in the region, such as Vietnam, Malaysia, Thailand and China. Head of the commission, Ismeth Abdullah, also the Riau Islands governor, told The Jakarta Post recently the commission was resolved to complete every investment license procedure in three weeks, compared to up to three months previously. However, environmental impact analysis reports would still take more than a month to complete. "We have cut the long and costly bureaucratic red tape and there won't be illegal levies demanded from officers in the field because we have provided them with proper incentives, besides monthly salaries,&quo...