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Indonesia Investment Coordinating Board officially trials one-stop investment service

Indonesia Investment Coordinating Board officially trials one-stop investment service

(Summary description)According to the Jakarta Post of January 14, Indonesia's Investment Coordinating Board will launch a "one-stop" investment licensing system for 15 major Indonesian provinces from today. At the end of this month, the new investment licensing mechanism will be formally launched.

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According to the Jakarta Post of January 14, Indonesia's Investment Coordinating Board will launch a "one-stop" investment licensing system for 15 major Indonesian provinces from today. At the end of this month, the new investment licensing mechanism will be formally launched.

 

Coordination Commission chairman Frankie said Indonesia investment, involving electric power, industry, agriculture these three areas, 135 kinds of license will be included in the trial, Indonesia 16 government and police headquarters have been authoried investment coordinating committee issued the 135 kinds of license, the state food and drug administration and the national standardization department is based on consulting purposes to join. All 18 relevant departments and agencies have been accredited to the Investment Coordination Committee to ensure that the relevant procedures are processed as soon as possible. Investors will not need to travel to different departments to get investment permits, but will only need to go to the Investment Coordination Committee. The investment coordination committee will put aside disputes and work to make the licensing process faster, simpler and more transparent.

 

Indonesia has long been criticized for taking too long to process investment permits, ranking 114th out of 189 countries in the World Bank's 2015 Doing Business rankings. The Indonesian government's history of streamlining investment permits and setting up integrated processing centers dates back to 2009, when former President Susilo Bambang Yudhoyono signed a decree. The government hopes to boost investment to around 30% of GDP by making it easier to get investment permits. The Investment Coordination Committee has also set a 2019 investment target of US $73.3 billion, which is inseparable from the success of the one-stop licensing mechanism for investment.

 

Frankie said the Investment Coordination Committee has set up task forces to streamline local licensing procedures and has set a goal of setting up one-stop licensing centres in 70 cities in 22 provinces. Since last year, corresponding efforts have been made at the local level, such as merging the local licensing centres with the local offices of the Investment Coordination Committee, which, owing to the policy of regional autonomy, is not able to intervene directly with local governments.

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