BKPM sets investment target of Rp631.5 trillion for 2017

"The steps we will take to increase investment include improving investment licensing services such as a three-hour investment license service, and direct construction investment facility," Franky Sibarani said.
Jakarta (ANTARA News) - The Investment Coordinating Board (BKPM) has set an investment target of Rp631.5 trillion for 2017 compared to Rp594.8 trillion this year.

To encourage domestic and foreign investment, BKPM will improve its services, which includes developing online investment services, more supporting infrastructures and facilities at one-stop integrated service units, and make a map of potential investment to develop investment in the strategic sectors, BKPM Chief Franky Sibarani said at a hearing with the House of Representatives Commission VI here Monday.

"The steps we will take to increase investment include improving investment licensing services such as a three-hour investment license service, and direct construction investment facility," he said.

The other steps are resolving bottlenecks in investment, providing incentives, increasing the scope of products receiving tax allowances for labor-intensive investment, and improving the investment climate, he added.

He explained that one of the biggest problems facing investment inflows in the country is the fact that many investors still have the perception that the licensing process is difficult.

He expressed optimism that the agency will be able to achieve the investment target for 2017.

In the first quarter of 2016, investment reached Rp146.5 trillion, accounting for 24.6 percent of the target.(*)

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