In the midst of the COVID-19 pandemic in Indonesia, the Investment Coordinating Board (BKPM) has continued to offer investment opportunities in accordance with President Joko “Jokowi” Widodo’s instruction.
One of the BKPM’s vigorous efforts to increase investment realization is to resolve the problem of stalled investment in Indonesia as well as four other strategies that the board has prepared to maintain the investment climate amid the COVID-19 pandemic such as:
- Facilitating the potential for expansion of existing companies’ investment (brown investment) by giving IDR 517.6 trillion for more than 25 companies in Indonesia, with the highest recipient is Rosneft (IDR 211.9 trillion);
- Facilitating constrained investment projects (stalled investment) to attract and convince potential investors that Indonesia is capable of solving any type of investment problems;
- Seeking new investment sources (green investment);
- Encouraging innovation incentives for new investment companies and investment expansion companies, such as tax holiday, tax allowance, free of import duty, R&D and training incentives, development of Batang Integrated Industrial Zone (KTT) and negative list of investment to be the priority list of investment.
The BKPM is also driving investment through additional value priority sectors such as:
- Labor-intensive manufacturing like pharmaceuticals and medical devices industry;
- Renewable Energy; and
- Mining industry.