20 January 2020 (closed)
USD/IDR (13,658) +4.00 +0.03%
EUR/IDR (15,150) -1.03 -0.01%
Jakarta Composite Index (6,245.04) -46.61 -0.74%
Indonesian President Joko Widodo officially launched the integrated one-stop service center (in Indonesian Pelayanan Terpadu Satu Pintu, abbreviated PTSP) at the Indonesia Investment Coordinating Board (BKPM) at the start of the week. This new service aims to smoothen and simplify licensing procedures for investment projects. From now on, investors will not need to visit various ministries or government agencies to obtain necessary permits but can simply turn to the BKPM’s one-stop service center.
Franky Sibarani, Chairman of the BKPM, said that the institution built an online monitoring system that can be used by investors to monitor progress of their business license application. The new one-stop service is supported by 22 Indonesian ministries and government agencies and cover the licensing processes for all business fields.
The PTSP has been developed based on a presidential instruction issued by President Widodo (28 October 2014) in an effort to create or more conducive investment climate. The country’s bureaucratic hurdles have been a disincentive for investors, hence limiting (foreign) investment. The soft launch of the PTSP had already been conducted on Thursday 15 January 2015.
The BKPM, mandated to create a competitive and conducive investment climate in order to attract foreign and domestic investment, is the primary interface between business players and the Indonesian government. The institution reports directly to the Indonesian president.