TEMPO.CO, Jakarta - The Indonesia Investment Coordinating Board (BKPM) recorded at least 2,000 companies that have not submitted their Investment Activity Report (LKPM) since 2007. The government has ordered the companies to immediately submit their LKPM. "If they do not comply, we will revoke their Principal License immediately," said Azhar Lubis, BKPM’s Deputy Chairman of Investment Control.

On January 2015, BKPM has sent notification letters to 15,528 companies that have not submitted their LKPM. Out of the total number, 2,000 letters were returned to BKPM because it did not reach the stated addresses. "It is possible that [the companies] had changed their mailing address or they are bogus companies," said Azhar. He added that revoking over 2,000 principal licenses will not affect investment realization target.

From 2007 to 2012, BKPM records showed that the total amount of Foreign Direct Investment (FDI) plans that have not been realized had reached US$ 85.98 billion. Meanwhile, for Domestic Direct Investment (DDI) plans, the number reaches up to Rp 316.29 trillion.

At the provincial level, the government of Banten province had ordered the revocation of 169 foreign and domestic companies' licenses for failing to submit their LKPM. Ranta Suarta, Chief of BKPM Banten, said that he will personally visit the companies and file an open investigation.

ANDI RUSLI | WASI'UL ULUM (SERANG)