THE BATAM Indonesia Free Zone Authority is working with the Investment Coordinating Board to promote Batam to Japanese Investors, eyeing to raise up to US$750 million foreign investment, by the end of the year.
Gusmar Bustami, deputy Chairman of the authority, said investing in Batam has become simpler and faster with the newly introduced three-hour investment licensing services for foreign investors.
"With a minimum investment plan of 50 billion rupiah (Btl34 million), investors could get eight types of licences in three hours,” he said during a Japanese investor forum held at the Investment Coordinating Board (BKPM)’s headquarter in Jakarta on Monday.
BKPM’s director of investment approval, Iwan Suryana, said the eight licences, deeds of eatablishment and approval, tax registration numbers and foreign worker recruitment plans.
Gusmardi said that to boost foreign Investment, the government has reformed the land management system by simplifying the procedures for land acquisition.
Last year, Japan was the third largest Investor with $47.44 million total Investment in Batam,10 per cent of the total foreign Investment in the region, after Singapore with $125.12 million and Hong Kong with $107.07 million.
“We will focus on attracting foreign Investors in various sectors, especially electronics, shipyard industries and marine tourism,” he said.