Indonesia’s Ministry of Investment aims to ensure ease of investment in Indonesia by implementing end-to-end facilities to attract investors, according to reporting from Antara News.
Deputy for investment cooperation at the ministry, Riyatno, said on Tuesday (14/5/24,) that the facilities provided by his ministry include assistance in exploring investment plans, consultation services, licensing support, as well as bridging communication with related parties.
“Investors only need to bring their capital and technology, while the licensing will be facilitated by the Ministry of Investment,” he said.
Antara News reports that Riyanto also added that the facilities can be seen in the structural reform efforts and implementation improvement through the issuance of the Job Creation Law, which makes the investment process simpler and faster.
Through the regulation, investment licensing for all foreign companies entering Indonesia has been integrated into the Online Single Submission (OSS) licensing system managed by the Ministry of Investment.
Apart from that, the ease of investing will encourage down-streaming in the mining, oil and gas, agriculture, and fisheries sectors which will require an investment of USD 618 billion until 2040, according to Antara News.
He said that there are several advantages of investing in Indonesia, including a host of tax incentives as well as investment guarantees in free trade areas.
“Indonesia already has free trade agreements (FTAs) with at least 22 countries, including through ASEAN FTAs with China, Japan, Korea, India, Hong Kong, Australia, New Zealand, Pakistan, and Mozambique,” Riyanto said.
The Ministry of Investment is offering 81 investment projects with an accumulated value of IDR 239 trillion (around USD 14.84 billion).
Those projects have been added to the Indonesia investment opportunity map, which can be accessed at https://regionalinvestment.bkpm.go.id/pir
To support the investment target, the government has prepared several tax relief policies, including a tax holiday in the form of company income tax exemption for 5 to 20 years for pioneer industries that have made large and strategic investments in the country, says Antara News.
Source: Antara News
