BKPM Expands Fast-Track Licensing Coverage to Boost Ease of Doing Business
Indonesia’s Investment Coordinating Board will expand the range of permits covered under its fast-track issuance program, as part of the government’s latest policy package to encourage investment into the country and stimulate flagging economic growth.
“We will offer eight permits under the three-hour licensing process, compared to four permits previously,” Darmin Nasution, the chief economics minister, said at a press conference at the State Palace on Friday to announce the policy package.
Some of the new licenses included in the fast-track service are for proposals to employ expatriates (RPTKA) and permits to employ expatriates (IMTA) for a maximum of 10 foreigners.
The investment board, or BKPM, will also offer faster processing of business registrations (TDP), producer import licenses (API-P) and customs identification numbers (NIK).
Previously, the fast-track licensing only extended to offered investment permits; notarized deeds of corporate establishment; corporate tax registration number; and letters detailing land availability in the area where investors planned to set up their business.
BKPM deputy chairwoman Lestari Indah, who oversees investment services, said the new fast-track program would be divided into four steps.
“The first step will be allocated to collecting information and allowing time for investors to submit the necessary data and documents. The second step will be for taking care of the permits, the corporate tax registration number, the notarized deed of corporate establishment and land bookings,” she said in a statement.
Processing of the TDP, IMTA and RPTKA will take place in the third step, while the NIK and API-P will be processed in the final step, Lestari said.
She added that by making it easier for investors to do business in the country, the BKPM hoped to draw in more investment and create up to two million new jobs.