Investment agency, Japanese bank cooperate on promotion

Jakarta (ANTARA News) - The Investment Coordinating Agency (BKPM) signed a memorandum of understanding with Sumitomo Mitsui Banking Corporation (SMBC), in order to optimize the promotion of investments among Japanese investors.

The document was signed by BKPMs head Thomas Trikasih Lembong and SMBC President/CEO Takeshi Kunibe and witnessed by the SMBC management, BKPM official representatives in Tokyo and representatives of Indonesian Embassy in Tokyo on Thursday (Nov 24).

"The agreement is expected to increase Indonesias efforts to improve the realization of investment, especially from Japan," Thomas said in a written statement received here on Friday.

The cooperation is aimed to encourage the realization of Japanese investment which, from the period between January and September 2016, reached US $4.4 billion for 2,122 projects.

That figures put Japan in the second place after Singapore on the list of top investing countries in Indonesia, with a total investment value reaching $7.12 billion.

Based on total assets, SMBC is the second largest bank in Japan. The bank is claimed to have businesses and client networks worldwide, including Indonesia.

Thomas explained the implementation of the governments economic policy package to 450 Japanese businesses.

The economic policy package seeks the openness and increasing competitiveness of Indonesias business and economic sectors.

"The packages of economic policy covers a number of aspects such as acceleration of licensing services, deregulation and tax system, which aims to improve the national competitiveness," he explained.

The government keeps disseminating every information, regarding the implementation of the economic policy package, through various forums.

One of this is through meetings with foreign investors in the country and abroad.(*)