BKPM put under Ministry of Trade<\/p>\n
Zakki P. Hakim and Muninggar Sri Saraswati, The Jakarta Post, Jakarta<\/p>\n
The government has placed the Investment Coordinating Board
\n(BKPM) under the coordination of the Ministry of Trade in a bid
\nto boost investment in the country.<\/p>\n
Minister of Trade Mari E. Pangestu said on Monday that based
\non presidential regulation No. 11\/2005, her ministry would
\nsupport the investment agency in terms of policy coordination in
\nvarious business sectors.<\/p>\n
\"We realize that investment concerns so many sectors. So, our
\ntask is to help and coordinate with the BPKM. We'll help
\ncoordinate the policies in each sector, but the BPKM will still
\nbe the one to implement those policies.<\/p>\n
\"It has been the ministry's responsibility to decide which
\nsector will be open to investment and which will not. Now, we
\nhave a wider responsibility,\" Mari said.<\/p>\n
Established in 1973, the BKPM was created with the purpose of
\ncoordinating the realization of foreign and domestic investments
\nin the country. It reports directly to the President.<\/p>\n
However, the board has been a subject of criticism due to the
\ncountry's continued sluggish investment performance, especially
\nfrom offshore, with the investment climate having yet to
\ndrastically improve.<\/p>\n
According to a 2004 World Bank survey, it took 156 days to
\nstart a business in the country -- among the longest time needed
\nin the Asia-Pacific region, where the average time to start a
\nbusiness was about 50 days.<\/p>\n
Reports have it that the licensing process had become time-
\nconsuming largely because of the abundant, often overlapping,
\nprocedures an investor had to go through at relevant state
\ninstitutions.<\/p>\n
Placing the BKPM under the Ministry of Trade is also designed
\nto help better coordinated related ministries.<\/p>\n
Moreover, Mari said that part of her new responsibility was to
\nsynchronize efforts to promote trade and tourism to the
\ninternational world.<\/p>\n
\"At the end of the day, we will all be responsible to the
\nPresident,\" said Mari.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bkpm-put-under-ministry-of-trade-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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