Wednesday, May 9, 2007
Diamond Room 1 Nikko Hotel – Jakarta.
The Indonesia parliament has just enacted the new Investment Law at March 29, 2007.
This new law is to amend the old one of the Law No. 1 of 1967 regarding The Foreign Direct Investment and Law No. 6 of 1968 regarding The Domestic Direct Investment as amended recently by Law No. 12 of 1970. The new Investment Law aims at simplification of investment-related procedures and certain other arrangements including adoption of one-roof services. The new law has accommodated internationally recognized standard, practice and principles of investment. The law, as an example, ensures that equal treatment will be accorded to investors irrespective of their nationalities. Moreover, the government of Indonesia, through this law, also attaches importance to the protection from nationalization and xpropriation. When it happens, the government will offer compensation. Therefore, the government also guarantees a right to transfer and repatriate, in term of acceptable foreign currencies. In addition going to international arbitration in order to settle investment disputes is a part of the new investment law.
Some investment facilities or incentives in the form of income tax deduction and exemption for certain time are made available for new investors or existing investors who extend their investment, new investment entering designated "pioneer" industries, or investor cooperating with small medium enterprises, and investment for specified target pursuant to the New Investment Law. The investment facilities also include the deduction or exemption from import duty for capital goods and raw material thatâ€™s not produced in Indonesia.
However, the investment law is not the sole panacea to improve the investment climate. There are some old problems that must be solved to improve investment climate in Indonesia i.e. industrial relation and taxation matters. Right now the Indonesia parliament is still working hard to revise the Manpower Law and Taxes Laws. Business players are waiting for the enactment of the Laws.
All topics said above will be covered in the exclusive seminar of Indonesia
Investment Update 2007 â€śNew Investment Law: Opportunities & Challenges for
Doing Business in Indonesiaâ€ť conducted by Piesta Consulting - an associated member of KS International & Finch Freeman Pty Ltd.
TIME & VENUE
The Indonesia Investment Update 2007 will take place on Wednesday, May 9, 2007 at Diamond Room 1 Nikko Hotel – Jakarta.
This exclusive seminar will address key points of the new Indonesia Investment Law, convergence or divergence with international standards and practices. More over, this seminar will discuss fiscal & tax facilities (incentives) for investors and latest development of Draft Revision of Law of General Tax Provisions & Procedures, Income Tax Law, Value Added Tax Law & Manpower Law. Participants will also gain applicative guidance on doing business in Indonesia from the beginning step of setting up new venture up to closing a business.
WHO SHOULD ATTEND
It is a must to attend this exclusive seminar for those who are doing or have intention to do business in Indonesia and for those who concern with the Indonesiaâ€™s investment climate as well as:
1. Investors or Business Owners
2. President Director & Vice President Director
3. Finance Director, Business Development Director, Administrative & Government
4. General Manager
5. Corporate Lawyer/Council
6. Head of Economic Section of Embassy
7. Executive/Leader of Chamber of Commerce or Business Forum/Association
8. Consultant in Business, Financial, Investment and Law
08.00 – 08.45 Registration
08.45 – 08.50 Opening Remarks
08.50 – 09.00 Opening Speech
â€śReadiness of Local Businessmen to Cooperate with Foreign
Businessmen in Doing Business in Indonesia.â€ť
Marzuki Usman,_ Chairman for Economic Assosiation of
Indonesia and India (ECAII), Former Minister of Investment
Fund Mobilization /Head of Investment Coordinating Body
09.00 – 09.10 Speech:
â€śForeign Investor Perception on Promulgating of
New Indonesia Investment Lawâ€ť
Joe C. Bartlett, President of American Chamber of Commerce
(Amcham) in Indonesia
09.10 – 09.30 Keynote Speech:
â€śNew Indonesia Investment Law: A Big Mile
Stone of Improving Indonesia's Investment Climateâ€ť
Ikmal Lukman, Director of Overseas Promotion, Indonesiaâ€™s
Investment Coordinating Body (BKPM)
09.30 – 09.45 Coffee Break
09.45 – 11.00 Session I
â€śTax Facilities (Incentives) for Investors and Latest
Development of Draft Revision of Taxes Lawsâ€ť
Astera Primanto Bhakti, Head of Sub Directorate of Corporate
Income Tax Regulation, Directorate General of Taxes
11.00 – 12.15 Session II
â€śHow Save is Investing in Indonesia? Convergence or
Divergence with International Standards and Practices.â€ť
Prof. Hikmahanto Juwana, Dean & Professor of Law,
Department of Law, University of Indonesia.
12.15 – 13.00 Lunch Break
13.00 – 14.15 Session III
â€śKey Points of The New Indonesia Investment Law Differing
from the Old Regimeâ€ť
Prof. Dr. Didik J. Rachbini. Head of Special Committee on
Investment Law of Indonesia Parliament
14.15 – 15.30 Session IV
â€śDoing Business in Indonesia 2007: Setting up Business
Activities and A Company in Indonesia (Procedures,
Constraints, and Tricks)â€ť
15.30 – 15.45 Coffee Break
15.45 – 17.00 Session V
â€śLatest Development on Indonesia Industrial Relationâ€ť
Dr. Sutanto Suwarno, Acting Head of Center Administration for
International Cooperation, Ministry of Manpower &
17.00 Closing Remarks