REPUBLIKA.CO.ID, JAKARTA -- The Capital Investment Coordinating Board (BKPM) said it is ready to facilitate realization of South Korean investment in Indonesia.
KBKPM chief Franky Sibarani said South Korea asked the Indonesian government to provide support and facilitate its big and strategic investments in Indonesia.
The request was made by the South Korean Minister for Trade, Industry and Energy at a meeting in Seou8l when Franky was on a visit to that country on Thursday.
"Certainly we welcome the request as it is the duty of BKPM to facilitate the process of foreign investment facing hurdles," Franky said here on Saturday upon his return from that country.
He said from October 2014 until April 2015, BKPM processed applications for around 100 investment projects.
The projects both foreign and domestic investment projects are valued more than Rp400 trillion.
So far processing of 20 project applications valued at around Rp99.97 trillion had been wrapped up. The projects included investment in mining, trade, electricity , base chemical and pharmaceutical , sugar, plantation, metal and tourism sectors.
"One of the duties given by President Jokowi (Joko Widodo) for BKPM is debottlenecking , to remove investment hurdles. The facility offered by BKPM could also serve as a promotion for the government commitment in creating conducive investment climate in Indonesia," he said.
Franky visited South Korea from May6-8 to promote investment opportunity in Indonesia and discussed investment cooperation with relevant Korean officials.
In his meeting with a group of Korean investors, BKPM received investment commitments valued at US$9.7 billion in the sectors of petrochemical industry, coal gasification industry, pharmaceutical industry, coal mining poultry farming and animal feed industry , and corn processing industry to produce high corn fructose syrup.
South Korea is is among major investing countries in Indonesia. Since 2010, South Korean direct investment in Indonesia reached US$7.46 billion placing it the fourth largest foreign investor in the country after Singapore, Japan and the United States.
In 2015, South Korea is expected to invest US$3.36 billion in new projects in Indonesia.
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