President: Complete Investment Licensing in Hours Not Months

Many rules and regulations have been streamlined and centralized recently aimed at improving Indonesia’s Ease of Doing Business and making it more attractive for Foreign Direct Investment (FDI) and Domestic Direct Investment (DDI) and now President Jokowi has called for completing matters pertaining to investment licensing within hours, not months as was currently occurring, report Antara News.

“Check again regarding the ease of licensing, check again, because in practice, we are still taking a long time. We are still in the 260-day figure. We are still taking a long time. The calculation should be if there is a permit, in this digital age, it should be hours, not months,” stressed the President during the 2023 National Working Meeting of the Association of Indonesian Provincial Governments (APPSI) in Balikpapan, East Kalimantan, Thursday, as monitored online from Jakarta.

The president spoke of having repeatedly cautioned about the investment climate. According to Widodo, investment is the key to economic growth for all countries.

“Right now, the most important aspect is how the investment comes in. All countries are fighting over what is called investment, no country is (not fighting over it), all are fighting over investment,” he pointed out.

The President urged governors to check the ease of licensing process in their respective regions, say Antara News, to ensure that new investment permits should not come out after months. He believes that through digitalization, investment licensing should be made easier and faster.

“At the latest, yes (a matter of) days, hours if possible. How does digitization in permits exist in all provinces, regencies, and cities,” he stated.

Source: Antara News

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