Govt Cuts Licenses of 5 Business Sectors
15 December 2014 09:10 WIB
TEMPO.CO, Jakarta - The Indonesian government has decided to cut the domestic investment and foreign investment permits for five business fields.
"The business sectors are electricity, labor-intensive industries, agriculture, maritime, import substitution, and downstream mining products," Tamba Hutapea, deputy of investment planning at the Investment Coordinating Board (BKPM) said in Jakarta last week.
Tamba said the permit cuts will be done through the One Stop Services system which the BKPM will run. The service also has and Investor Relations Unit to provide information in order to speed up the licensing process and debottleneck investment problems.
The decision is in line with BKPM's target boost investment to increase by 15 percent in 2015. Next year, the government has set to garner Rp524 trillion in investments.
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