REPUBLIKA.CO.ID, JAKARTA -- Accelerating services for the issuance of investment licenses can boost economic growth in Indonesia, which is expected to reach seven percent at the end of 2017, according to Vice President Jusuf Kalla.

"The faster, the better, as it will encourage economic growth to reach seven percent at the end of 2017," the vice president remarked after the launch of the Three-hour Investment Licensing Service at the Capital Investment Coordinating Board (BKPM) building here on Monday.

After launching the three-hour Investment Licensing Service, the vice president inspected the site of the service in the company of BKPM Chief Franky Sibarani, National Police Chief General Badrodin Haiti, Manpower Minister Hanif Dhakiri, Industry Minister Saleh Husin, Trade Minister Thomas Lembong, and Agrarian and Spatial Planning Minister Ferry Musyidan Baldan.

During the course of the inspection, Vice President Kalla found out that the process of filing until the issuance of permits for business operators took only 90 minutes.

In the meantime, Sibarani remarked that the Three-hour Investment Licensing Service had a strategic role in boosting the flow of both foreign and domestic investors into the country.

He noted that since the opening of the service on October 26, 2015, seven companies had obtained business licenses, with a total investment value of Rp17.85 trillion.

"The companies are engaged in manufacturing, real estate, power plants, ports, and livestock farming," he added.

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