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Jakarta Post

BKPM to standardize investment procedures, forms

  • Stefani Ribka

    The Jakarta Post

Nusa Dua, Bali   /   Sat, February 25, 2017   /  08:04 am
BKPM to standardize investment procedures, forms Investment Coordinating Board (BKPM) head Thomas “Tom” Lembong (left) listens to Trade Minister Enggartiasto Lukita during the BKPM National Coordination Meeting in Nusa Dua, Bali, on Friday. (Antara/Nyoman Budhiana)

The Investment Coordinating Board (BKPM) plans to create one-size-fits-all standards to better serve potential investors across the country, in response to complaints about different registration forms and procedures in various regional administrations.

BKPM head Thomas “Tom” Lembong told 531 representatives of regional investment agencies (DPM PTSP) during the BKPM National Coordination Meeting in Nusa Dua, Bali, that the board’s reform watchword this year was “Kis”, an abbreviation of Coordination, Integration and Standardization in Indonesian.

“Investors who plan to invest in several regions are frustrated dealing with all of the different standards [...] We need to coordinate more to have one vision; integrate all data from all agencies on one database and standardize every different format of forms and procedures,” he said on Friday.

(Read also: Indonesia seeks ‘back up' of US investment: BKPM)

Under the current administration, thousands of business regulations have been annulled to simplify the registration, construction and running of businesses. The reforms have largely worked well at the central government level, but not at the regional level where businesspeople report dozens of different forms and licenses to be completed before starting business.

President Joko “Jokowi” Widodo, who attended the event, urged the regional investment agencies to report bothersome bylaws to the BKPM, so that the central government could revoke them faster. (ags)