BKPM aims to attract $25 billion investment

Riyadi Suparno, The Jakarta Post, Washington | Thu, 02/25/2010 1:46 PM

Indonesian Investment Coordinating Board chairman Gita Wirjawan said in Washington on Wednesday (Thursday in Jakarta) he aimed to attract between US$25 and $35 billion per year to double Indonesia's gross domestic products in a five-year time.

Speaking before U.S. businesspeople here, Gita noted that Indonesia aimed to grow around 7 percent in the next five years, and to achieve that, BKPM had been tasked to attract investment of between $10 to $22 billion per year.

"But we are thinking of a much bigger number of investment, at the level around $25 to $35 billion per year, given the size of our economy. We are a $550 billion economy," Gita told the businesspeople.

To achieve his ambitious targets, Gita said that he had started his "one stop shop" licensing for investment that should expedite licensing to as fast as five hours and seven days at the latest.

Gita said, a total of 15 ministers had agreed to give their licensing power to BKPM to make the one stop shop service workable.

"It's a huge task. Policy making is easier to fixed, but policy implementation is a lot more difficult," he said.