BPK Finds Problematic Foreign Investments Worth Rp75 Trillion
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24 June 2021 13:27 WIB
TEMPO.CO, Jakarta - The Supreme Audit Agency (BPK) in its second semester examination results overview found up to 4,103 foreign investments valued at Rp75.94 trillion that are deemed problematic.
Citing Bisnis.com, the evaluation throughout 2019 and 2020 found that the foreign investments did not meet the minimum investment value requirements.
“These have caused the realization of the investment or up to Rp75.94 trillion to be problematic and not meet the legal requirements to be registered as actual foreign investments (PMA),” the BPK reported.
Their findings refers to the regulations made by the Investment Coordinating Board (BKPM) on the Guidelines and Procedures for Licensing and Investment Facilities where those qualified as PMA are major businesses that must adhere to the Rp10 billion investments outside of land and building facilities.
Following these findings, the BPK recommends the BKPM to instruct authorities in this subject to monitor the foriegn investments lower than Rp10 billion. They also recommend taking proper legal actions.
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