The government continues to give foreign investors opportunities to boost the nation's industries and infrastructure projects. During his visit to Busan in South Korea last week, Investment Coordinating Board (BKPM) Chief Thomas Lembong told 100 chief executive officers (CEOs) of reputable companies in the city how easy it is to do business in Indonesia.
Thomas said the government will improve the nation’s one-stop service centres (PTSP). He explained Indonesia’s plans for improvement to the bosses of 75 South Korean companies. The business forum’s participants included the CEO of Kukdong Corporation, Deputy CEO of Parkland, chair of Steel Flower, CEO of World Power Tech, and the COO & executive vice president of SK Shipping.
Thomas said the PTSP was the main topic of discussion on the government’s efforts to increase foreign investments. “The BKPM will collaborate with the Ministry of Home Affairs and regional BKPM branch offices to improve the PTSPs, especially in regions that need to improve their performance,” Thomas said in an official release on Sunday (28/8). (Read: Global Economy and Foreign Investments Challenge Growth).
To convince them to invest in Indonesia, Thomas told the participants of Indonesia’s plans to improve its investment climate, underlining on the serious efforts by government to reform systems.This is of particular importance at a time when all countries are competing for foreign direct investment (FDI) as the global economy remain sluggish.
BKPM data shows that actual investment increased by 12.3 percent during the second quarter of this year compared to the same period last year, toIDR 151.6 trillion. This includes a 21.7 percent increase in domestic investment to IDR 52.2 trillion, and a 7.9 percent rise in foreign investment to IDR 99.4 trillion.
The business forum in Busan was hosted by the Indonesia Investment Promotion Centre (IIPC) in Seoul and the Indonesian Embassy in Seoul. Speakers were the BKPM’s director of sectoral promotion, head of the BKPM East Java branch, and head of the Korean Footwear Association in Indonesia. Indonesia’s Ambassador to South Korea John Prasetio also attended the forum. (Read: BKPM Chief Opens Up Option to Revise Negative Investment List).
South Korea is an important source of investment for Indonesia. During the first half of this year, South Korea ranked eighth of Indonesia’s largest investors with actual investment US$ 471.58 million in 1,504 projects.