Financial Industry to Be Integrated into Online Single Submission System
JAKARTA — The Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) has revealed that the financial industry sector will be incorporated into the Online Single Submission (OSS) system.
Deputy Minister of Investment and Downstreaming/Deputy Head of BKPM Todotua Pasaribu said the effort aims to strengthen licensing data consolidation and promote national investment transparency.
"Until now, financial industry data — both banking and non-banking — has never been entered into the OSS system and has never been recorded in investment realisation figures. This is a matter of concern for us," he said during a Public Consultation on Draft Licensing Regulations on Thursday (3 July 2025).
Todotua explained that his office had held meetings with the Financial Services Authority (OJK) to push for the integration of the financial sector into the OSS. This step, he added, is important for driving more comprehensive data consolidation related to business licensing in Indonesia.
"I recently met with the OJK Chairman, and he responded positively. Hopefully within the next one to two weeks we will be able to agree on a mechanism for integrating the financial industry into the OSS — not merely as an observer, but also in the licensing process itself," he said.
According to Todotua, this integration is important for creating alignment between investment data and national economic growth. He stressed that high recorded investment realisation figures must not fail to translate into economic activity simply because certain sectors remain unintegrated.
In the long term, the inclusion of the financial industry in the OSS is expected to increase the efficiency of licensing processes in the financial sector, strengthen transparency, and make it easier for investors to access licensing services.
"Going forward, the OSS will become a consolidation platform — not only for licensing services, but also for strategic investment analysis and policy formulation," he affirmed.
The integration also forms part of the licensing reform being vigorously pursued by BKPM through the revision of Minister of Investment/Head of BKPM Regulations Nos. 3, 4 and 5 of 2021. The government is targeting the OSS to become a cross-sector integrated licensing system.
The three regulations will be revised into a single regulation in accordance with the provisions of Government Regulation (PP) No. 28/2025 on the Implementation of Risk-Based Business Licensing.
Todotua called for input from stakeholders regarding the draft of the new regulation.
"This will provide fresh impetus to create progressive regulation that serves the national interest and fosters a more conducive investment climate," Todotua concluded.
Deputy Minister of Investment and Downstreaming/Deputy Head of BKPM Todotua Pasaribu said the effort aims to strengthen licensing data consolidation and promote national investment transparency.
"Until now, financial industry data — both banking and non-banking — has never been entered into the OSS system and has never been recorded in investment realisation figures. This is a matter of concern for us," he said during a Public Consultation on Draft Licensing Regulations on Thursday (3 July 2025).
Todotua explained that his office had held meetings with the Financial Services Authority (OJK) to push for the integration of the financial sector into the OSS. This step, he added, is important for driving more comprehensive data consolidation related to business licensing in Indonesia.
"I recently met with the OJK Chairman, and he responded positively. Hopefully within the next one to two weeks we will be able to agree on a mechanism for integrating the financial industry into the OSS — not merely as an observer, but also in the licensing process itself," he said.
According to Todotua, this integration is important for creating alignment between investment data and national economic growth. He stressed that high recorded investment realisation figures must not fail to translate into economic activity simply because certain sectors remain unintegrated.
In the long term, the inclusion of the financial industry in the OSS is expected to increase the efficiency of licensing processes in the financial sector, strengthen transparency, and make it easier for investors to access licensing services.
"Going forward, the OSS will become a consolidation platform — not only for licensing services, but also for strategic investment analysis and policy formulation," he affirmed.
The integration also forms part of the licensing reform being vigorously pursued by BKPM through the revision of Minister of Investment/Head of BKPM Regulations Nos. 3, 4 and 5 of 2021. The government is targeting the OSS to become a cross-sector integrated licensing system.
The three regulations will be revised into a single regulation in accordance with the provisions of Government Regulation (PP) No. 28/2025 on the Implementation of Risk-Based Business Licensing.
Todotua called for input from stakeholders regarding the draft of the new regulation.
"This will provide fresh impetus to create progressive regulation that serves the national interest and fosters a more conducive investment climate," Todotua concluded.