Off the wire
• IS claims responsibility for shooting in U.S. Texas  • Xinhua Insight: Home sales rebound in China's big cities  • New U.S. university being built in Malta  • 1st Ld: China's Xi highlights "big picture" in reform drive  • Monchengladbach extends contract with Dutch defender Brouwers  • Roundup: Singapore stocks end down 0.33 pct  • Thai king attends 65th coronation anniversary ceremony  • 1st LD-Writethru: Xi urges Red Cross China to reform  • China police to ramp up drug campaign  • Debut event of Tour de Yorkshire hailed as a success  
You are here: 　 Home

Indonesia eases procedures to boost investment

Xinhua, May 5, 2015 Adjust font size:

The Indonesian government has simplified and shortened procedures for investors to get tax incentives, a move aiming at luring foreign capitals to invest in the biggest economy in the southeast Asia.

Coordinating investment board on Monday issued the rules which shorten the application process no more than 28 days, compared to one year before, Franky Sibarani, chairman of the board said on Tuesday.

The new regulation will come into force from May 6, he said.

Indonesian President Joko Widodo, who came into office on October 20 last year, has undertaken efforts to boost investment climate, cutting red tape, simplifying process of investment licensing, combating graft and carrying out others reform movements.

On January 26, Indonesia launched a single-window service for investment license which can simplify and accelerate the procedure.

Indonesia's foreign direct investment or FDI climbs faster at the first three months by 14 percent to 82.1 trillion rupiah (some 6.32 billion U.S. dollars) in the first quarter, faster than that at the previous quarter of 10.5 percent, Franky said, indicating the country's efforts to boost investment climate has taken effect. Endi