The Batam Indonesia Free Zone Authority (BP Batam) is working with the Investment Coordinating Board (BKPM) to promote Batam to Japanese investors, eyeing to raise up to US$750 million in foreign investment by the end of the year.
Gusmardi Bustami, BP Batam’s deputy chairman, said investing in Batam has become simpler and faster with the newly introduced three-hour investment licensing services for foreign investors.
“With a minimum investment plan of Rp 50 billion [$3.84 million], investors could get eight types of licenses in three hours,” he said during a Japanese investor forum held at BKPM’s headquarter in Jakarta on Monday.
BKPM’s director of investment approval, Iwan Suryana, said the eight licenses included investment licenses, deeds of establishment and approval, tax registration numbers and foreign worker recruitment plans.
To boost foreign investment, Gusmardi said the government has reformed the land management system by simplifying the procedures for land acquisition.
In 2015, Japan was the third largest investor with a $47.44 million total investment in Batam, 10 percent of the total foreign investment in the region, after the Singapore with $125.12 million and Hongkong with $107.07 million.
“We will focus on attracting foreign investors in various sectors, especially electronics, shipyard industries and marine tourism,” Gusmardi said.