TEMPO.CO, Jakarta - The opportunity for Indian investors to invest in Indonesia is wide open as the Indonesian government is very welcome to foreign investments, head of the Industrial Research and Development Center (BPPI) Haris Munandar said when accompanying Industry Minister Airlangga Hartarto in India.

“The policy is reflected in deregulations and economic policy packages launched during Jokowi presidency, which include three hours investment service, facilities at bonded logistic center, and incentives for industrial areas based on zones,” Haris said in a written statement, as quoted by Antara.

Moreover, Haris went on, the government and industry players are guided by Government Regulation No. 14/2015 on National Development Main Plan for 2015-2019 term, which will be implemented in three main stages.

“The first stage will see national industrial development plan to improve added value of natural resources in agriculture-based mainstream industry, mineral and oil & gas, followed by selective development of supporting and mainstay industries,” he noted

The government is also speeding up development and distribution of industrial area across Indonesia, include the industrial areas of Sei Mangke in North Sumatra, Dumai in Riau, Berau in East Kalimantan, Palu in Central Sulawesi, Kendal in Central Java, Java Integrated Ports and Estate (JIIPE) in Gresik, East Java, and Morowali in Central Sulawesi.

India is Indonesia’s eight largest trade partner.

Commercial transactions between the two countries reached 14.6 billion US dollars or 4.9 percent of Indonesia’s total foreign trade transactions with India in 2015.

In 2015, India invested in 43 projects in Indonesia’s industrial sector worth 15.5 million US dollars, an increase compared to that of 2014 with 19 projects worth 12.89 million US dollars.

Investments were mostly made in food, textile and transport industries.

ANTARA