Approved FDI jumps by 113.2% in first half<\/p>\n
JAKARTA (JP): The Investment Coordinating Board (BKPM) said on
\nWednesday that approved foreign direct investment (FDI) jumped by
\n113.2 percent to US$4.96 billion in the first half of this year
\ncompared to the same period last year.<\/p>\n
The board said in a statement, however, that the number of FDI
\nprojects only increased by 1.2 percent to 666, compared to the
\nsame period last year, which saw 658 projects.<\/p>\n
The board added that approved domestic investments increased
\nto Rp 37.7 trillion (about $3.9 billion) during the first six
\nmonths of the year, or 146.9 percent compared to the same period
\nlast year.<\/p>\n
However, in terms of the number of projects, proposals from
\nlocal investors dropped 23.9 percent to 124 projects compared to
\nthe same period last year.<\/p>\n
\"The significant increase in the value of projects indicates a
\ngradual recovery in investors' confidence in Indonesia's
\ninvestment climate,\" the board said.<\/p>\n
Most investors have avoided Indonesia over the last two years,
\nparticularly because of political instability, security problems
\nand the economic crisis.<\/p>\n
The board, however, did not reveal any data on the realized
\nFDI figure.<\/p>\n
Experts said that one of the top priorities of the new
\ngovernment was to sign a new economic deal with the International
\nMonetary Fund.<\/p>\n
As part of the efforts to enhance the role of the board in
\nstimulating investments in Indonesia, BKPM is shifting its role
\nas a mere regulatory body to that of a market driven servicing
\nagency.<\/p>\n
Theo Thoemion was installed as the new chief of BKPM in June
\nafter the post had been vacant for some time.<\/p>\n
To achieve that aim, BKPM will resume its function in
\nfacilitating import duty on incoming capital goods and raw
\nmaterial, facilitating a value-added tax, facilitating income tax
\nand authorizing proposals for the utilization of expatriates in
\nforeign and local companies, it said.<\/p>\n
The board will function as the coordinator and facilitator for
\nthe promotion of national investment both in Indonesia and
\nabroad, and will disseminate information on new investment
\nopportunities through the utilization of information and
\ntechnology.<\/p>\n
The board will also establish cooperation with the Investment
\nAdvisory Council (IAC) and the Indonesian Investment and
\nFinancial Society (IIFS).<\/p>\n
The IAC, whose members include representatives from the
\nIndonesian Chamber of Commerce and Industry (Kadin), various
\nassociations and foreign chambers of commerce, will give their
\ninput to the board chief on items concerning the policies and
\ninvestment problems.<\/p>\n
The society will provide a forum for local and foreign
\ncompanies, as well as banking and financial institutions to work
\ntogether, it said in the statement.(tnt)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/approved-fdi-jumps-by-1132-in-first-half-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}