Indonesia offers "one stop shop" to facilitate foreign investments: official

18:49, June 07, 2010      

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Foreign investors in Jakarta only need to go to one government agency for all procedures of business license application thanks to a "one stop shop" mechanism, said Gita Wirjawan, chairman of Investment Coordinating Board of Indonesia on Monday.

In an exclusive interview with Xinhua on the sidelines of the World Economic Forum on East Asia, Gita that the agency he heads serves as a "one stop shop" for both foreign and domestic investors and could process investment licensing as fast as in five hours and in seven days at most.

Just two months ago, foreign investors might need to go to 15 government departments including trade, labor, immigration and many others for applying the business license, Gita said. By the end of this year, the "one stop shop" mechanism will be implemented across the country, he said.

"Indonesia, the biggest country in Southeast Asia, is committed to creating favorable conditions for both domestic and international investors," he said.

Gita said Indonesia boasts many advantages in attracting foreign investment, including abundant natural resources, large number of consumers, fiscal and monetary stability and sound economic fundamentals.

Gita said the economic fundamentals in Indonesia are strong. The 650-billion-U.S. dollars economy is expected to see growth rate of 6-7 percent this year and the country has no inflation pressure in the coming 12 months, he said.
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