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Jakarta Post

BKPM promises to ‘de-bottleneck’ $50b stalled investment projects

  • Riza Roidila Mufti

    The Jakarta Post

Jakarta   /   Wed, November 20 2019   /  01:48 am
Bahlil Lahadalia (JP/Seto Awo)(JP/Seto Awo)

Bahlil Lahadalia (JP/Seto Awo)Twenty-four investment projects worth Rp 708 trillion (US$50 billion) are currently stalled due to overlapping regulations and red tape, according to the Investment Coordinating Board (BKPM).“Around Rp 700 trillion [in investment] have not been realized because of land, licensing or other issues. There are bottlenecks at both the central and regional government level because of overlapping regulations that need to be synchronized,” BKPM head Bahlil Lahadalia told leaders of regional investment offices from across Indonesia on Monday.“What they complain about most is permits from technical ministries that they consider complicated,” Bahlil said, summarizing his key takeaway from a meeting with the heads of the Capital Investment and One-Stop Integrated Services Agency (DPMPTSP) in the regions.There were overly complicated and overlapping regulations i...