BKPM’s New Super Authority

By Editorial Team 18/02/2020
Summary

The government granted a higher authority to the Investment Coordinating Board (BKPM) to issue investment-related permits or licenses. Based on Presidential Instruction No. 7/2019 on the easy access of doing business, BKPM can release business licenses, previously handled and signed by 20 ministries and state institutions.

The chairman of BKPM, Bahlil Lahadalia, revealed that, under the new regulation, every ministry or institution had to release a letter mentioning the transfer of power to BKPM. He also said that the Environment and Forestry Ministry was among the first institutions transferring its authority on the matter. In addition, representatives from 22 ministries and state institutions will also operate in BKPM. “In principle, the investors will start their venture in BKPM and end it there, too,” Bahlil explained in Indonesia Economic and Investment Outlook 2020, on February 17, 2020.

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