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Fast-track service facilitates US$10 billion in investment
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An Investment Coordinating Board (BKPM) official serves a potential investor looking to invest through the three-hour investment service system introduced on October 27, 2015. (KONTAN/Carolus Agus Waluyo)
T
he Investment Coordinating Board (BKPM) has facilitated US$10.38 billion in investment from 59 companies over the course of the last year after establishing a three-hour investment service system.
BKPM deputy director Lestari Indah said on Thursday that the fast-track services included direct construction in industrial zones and land-booking letter services.
"Investors are still facing challenges over the requirement to obtain licenses," Lestari said.
She admitted that bottlenecks were still a primary concern for the BKPM, especially in technical documents such as those used to obtain expatriate work permits.
"Further bottlenecking from technical ministries should be identified and then consolidated into a single-window service," she added.
Institute for Development of Economics and Finance (INDEF) director Enny Sri Hartati said many nvestors still had complaints about the "unclear" requirements of obtaining licenses from technical ministries.
According to BKPM data, foreign direct investment into Indonesia reached $29.28 billion last year, up slightly from $28.5 billion in 2014, with mining, transportation, telecommunications and mineral processing the biggest beneficiaries. (dan)
