Riau offers islands to foreign investors

Riau Islands Governor Ismeth Abdullah said on Sunday that his administration is inviting foreign investors to manage islands in the province.<br /><br />“We will conduct the process transparently and according to the law. We want to avoid foreigners from managing the islands secretly,” Ismeth argued.<br /><br />He said some islands in the province were already managed by foreigners.<br /><br />“Nikoi island, for example, which is managed by foreign investors, attracts many tourists to its beautiful coral reefs.”<br /><br />He said the involvement of foreign investors in the management of the islands had raised revenue for the island.<br /><br />Ismeth explained that it takes a month for a foreign investor to get a permit, available from the province’s Investment Coordinating Agency, to manage an island. “The simple permit system is aimed at avoiding the practice of selling the islands.<br /><br />Data from the agency shows that just 394 of the province’s nearly 1,800 islands are inhabited. Many islands border Vietnam, Malaysia, Singapore or Thailand.<br /><br />“All the 1,795 islands in the province have been named to smooth the process and stop selling,” head of the province’s administrative affairs, Reni Yusnely, said.