Wed, 12 Sep 2001

Content of the Investment Policy Reform Initiative:

1. Preparing a National Investment Law to replace existing laws. 2. Shortening the negative investment list. 3. Simplifying procedures in establishing a company. 4. Further reducing and simplifying taxes and duties through ongoing tax and trade policy reform programs. 5. Availability of foreign exchange for imports, and commitment to ease repatriation of capital. 6. Introduce a system giving foreign investors access to local financing. 7. Simplify procedures to employ expatriates. 8. To make available adequate infrastructure through partnership mechanisms that attract private capital. Providing adequate legal protection including guarantees for the integrity of contracts. 9. Ensure that land for industrial and commercial use is readily available to investors. 10. Actively reviewing proposals for the establishment of an independent, public-private partnership to promote and facilitate all private investment in Indonesia. 11. The government assures that it will avoid using any measures that will adversely affect investors's property rights 12. The government is entitled to make an agreement with other countries to avoid double taxation and to prevent tax evasion. 13. The government recognizes the need for an international conciliation or arbitration to resolve disputes that cannot be settled amicably.