REPUBLIKA.CO.ID, JAKARTA -- Seven companies have obtained investment licenses, with a total investment worth Rp17.85 trillion by benefiting the Three-hour Investment Licensing Service since it was opened on October 26, 2015.

The seven companies were engaged in manufacturing, real estate, power plants, ports, and livestock farming, Franky Sibarani, head of the Investment Coordinating Board (BKPM), said during the official launch of the Three-hour Investment Licensing Service, here, Monday.

He said that the Three-hour Investment Licensing Service is a breakthrough for easy and fast licensing services offered to investors.

The service is in accordance with the Indonesian government's economic policy package II issued in September 2015, he added.

To obtain a licence from the three-hour service, an applicant should invest at least Rp100 billion to build a company that could absorb 1,000 workers, Sibarani said.

The applicant will receive nine documents, namely an investment principle permit, Tax ID Number (NPWP), a company establishment certificate, a legalization decree from the justice and human rights ministry, a company registration certificate (TDP), a foreign worker recruitment permit (IMTA), a foreign workers recruitment plan (RPTKA), Producers-Importer Identification Numbers, a customs identification number (NIK), and a land booking letter.

He noted that the rapid service has a strategic role in boosting the flow of both foreign and domestic investors into the country.

Besides, it has cut the duration of licensing application procedure from 23 days into just three hours.

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.

"At the same time, this is a New Year gift for investors," he remarked.

Vice President M Jusuf Kalla officially inaugurated the Three-Hour Investment Licensing Services of the Investment Coordinating Board (BKPM), at the BKMP headquarters on Monday.

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