GOVT RELAXES PERMITS FOR POWER PLANT INVESTORSPosted on October 05, 2015 on 12:04:02 WIB
The government has simplified a number of regulations and is offering incentives for investment in the electricity sector in an effort to speed up the realization of the 35,000 MW power-generation project, an official has said.
Indonesian Investment Coordinating Board (BKPM) deputy director for investment planning Tamba Hutapea confirmed that permit issuance was among the regulations simplified.
Tamba said investors now only needed to get 25 permits and wait about 256 days to have them processed. In the past, they needed to get 52 permits, which took around 923 days to process.
He said the simplification was only applicable for regulations at the central government level while rules issued by regional administrations also discouraged investors so those regulations needed to be simplified too. "Land permits, which are under the remit of regional administrations, is not yet satisfactory," Tamba said in a discussion on Monday.
"We want the simplification to also touch on regulations at regional level.," he added.
Tamba said the BKPM was committed to helping investors to resolve problems, such as marketing issues and land acquisition at the regional level, which many investors find to be barriers.
"In the past, we even invited heads of particular regions and asked them why a problem happened and how they could resolve it," he said.
Stalled projects the BKPM is currently helping to resolve include the coal-fired power plant (PLTU) in Batang, Central Java; the PLTU in Celukan Bawang, Bali and the gas-fired power plant (PLTG) in Uncang Batam, Riau Islands.
Besides land acquisition, the BKPM is also committed to helping investors negotiate with other infrastructure stakeholders; such as relevant ministries and state-owned infrastructure companies. As an incentive to investors, Tamba said, the BKPM would assist electricity companies to market their products through finding potential bidders and facilitating business seminars and meetings for them.
Tamba added that the BKPM was currently helping eight companies, with a potential total investment of more than Rp 207 trillion (US$14 billion), to resolve their permit problems. Of the eight companies, four companies, with investment values of about Rp 7 trillion, have not yet received permits for land expansion. The other four, with investment values of around Rp 200 trillion, had recently received their permits, he said.
Source: The Jakarta Post dated 30 September 2015
Other News- BKPM MULLS PLAN TO EASE FOREIGN OWNERSHIP IN COLD-STORAGE FACILITIES - OJK TO REGULATE CROWDFUNDING BY YEAR-END - GOVT TO ISSUE REGULATION ON MINING COMPANIES' DIVESTMENT - EXIMBANK SECURES $500M LOAN FROM ICBC - BRI SIGNS LOAN DEAL WITH PETROKIMIA GRESIK - POLICY ISSUED TO EASE RESTRICTIONS ON FOREIGNERS' BANK ACCOUNTS - GOVT TO ALLOW EARLY MINING LICENSE EXTENSION - GOVT TO SIMPLIFY EXTENSIONS OF MINING CONTRACTS - RESTRICTIONS ON FOREIGNERS' BANK ACCOUNTS EASED - INDONESIA'S CENTRAL BANK TIGHTENS RULES FOR DOMESTIC DOLLAR PURCHASE - BRI, BNI READY TO BUY BACK SHARES: MINISTER - OJK WARNS BANKS OF HARD TIMES, FALLING CAPITAL - ADIRA MULLS OFFERING LOANS TO GO-JEK, GRABBIKE DRIVERS - OJK WANTS SMALL FOREIGN-OWNED BANKS TO UPGRADE CLASS - 10 COAL MINERS AGREED TO AMEND OPERATING CONTRACTS - ECONOMY IN BRIEF: OIL AND GAS FIELDS UP FOR AUCTION - GOVT EXTENDS DEADLINE ON EQUITY RULING - GOVERNMENT CONSIDERS REVISING OIL SHARE CONTRACTS - OJK'S NEW POLICIES EXPECTED TO STOKE LENDING - CREDITOR STARTS BANKRUPTCY PROCEEDINGS AGAINST INDONESIA'S BERAU - MNC INVESTAMA TO BUY BACK 10% OF PUBLIC STAKE - BII TO DISBURSE $300 MILLION LOANS IN SECOND HALF - OJK IMPOSES RELAXED RULINGS TO REFINE LENDING - BKPM TO PUSH REALIZATION OF 54 FDI PROJECTS WORTH $13.6 BILLION - FOREIGN BANKS PROTEST BILL REQUIRING LOCALLY INCORPORATED BRANCHES - FOREIGN LENDERS FRET OVER PROPOSED LIMIT - GOVERNMENT TO SIGN REVISED MINING CONTRACTS THIS MONTH - NATIONAL HEALTH INSURANCE (JKN) PENALTIES INCREASED, FEES RAISED - SOUTH KOREAN SHINHAN BANKS BUYS INDONESIAN BANKS - HEAVY SANCTIONS IMPOSED AGAINST DOLLAR TRANSACTIONS - GOVERNMENT TO EXPAND CORPORATE TAX DISCOUNTS - BCA EYEING A CREDIT BUREAU TO BOLSTER LOAN, TACKLE NONPERFORMING LOANS - INDONESIA REGULATOR TO ISSUE RULES TO MANAGE RISK AT FINANCIAL CONGLOMERATES - FOREIGN POSSESSION OF PROPERTIES CAN LAST A LIFETIME: MINISTER - NEW UN REPORT FINDS INCREASE IN FOREIGN INVESTMENT FOR INDONESIA IN 2014 - BKPM'S RESPONSE TO INVESTORS CALM OVER WEAK RUPIAH - OJK TO RELAX RULES FOR FOREIGN INVESTORS - ANALYSIS: BANKS: PRESSURED BY TAX RULINGS - GOVT TO FINISH COAL TALKS BY END OF YEAR - BANKS PLAN ON LOWERING TARGETS IN RESPONSE TO COOLING ECONOMY - PALM-OIL LEVY COLLECTOR TO BE ESTABLISHED NEXT WEEK - WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - BI REVISES RULES TO BOOST FX TRADING, SWAP DEALS - BKPM SOLVES INVESTMENT BOTTLENECKS WORTH US$99 BILLION - INDONESIA TO ISSUE NEW TIN RULES TO STOP ILLEGAL EXPORTS - GOVERNMENT REVISES INVESTMENT TREATIES - RI TO RESUME FREE TRADE TALKS WITH EU NEXT MONTH - WINTERMAR SEEKS TO EXPAND OVERSEAS - KADIN PROPOSES SPECIAL FUNDING BODY TO SUPPORT INDUSTRY - INDONESIA HIRES FOUR BANKS TO MANAGE NEXT GLOBAL SUKUK - INDONESIA PRESIDENT SIGNS PALM EXPORT LEVY TO FUND BIODIESEL - BKPM TO ISSUE PROCEDURES FOR APPLYING FOR TAX ALLOWANCES - OJK PLANS NEW REGULATION TO BOOST VENTURE CAPITAL INDUSTRY - BI EASE THE RESTRICTION UPON BANK’S LOAN DEPOSITO RATIO - BI TINKERS WITH RULES OF BANK TO EASE POLICY - TAX AMNESTY ENFORCED ON 2017 - FACING MEA, OJK STRENGTHEN THE SAFE GUARD OF FINANCIAL SECTOR - MINISTER OF FINANCE STRATEGY TO HOLD THE OUTFLOW OF FOREIGN CAPITAL - OPPORTUNITY KNOCKS AT ASIA-AFRICA SUMMIT - BKPM REFORMS LEAD WAY TO ASEAN INVESTMENT - INDONESIA'S CENTRAL BANK BANS FOREIGN CURRENCIES FOR DOMESTIC TRANSACTIONS - MINISTER OF TRADE SET A SPECIAL PROVISIONS MANDATORY L / C - OJK BANS PARTY MEMBERS FROM BANK LEADERSHIP - FED MOVE GIVES RI TIME TO REFORM - BKPM ANNULS $23 BILLION IN INVESTMENT PERMIT - MOF OF INDONESIA TO REDUCE FOREIGN OWNERSHIP AGAINTS RUPIAH BOND - NEW VISA POLICY TO AID RUPIAH - INDONESIA REGULATOR TO EASE INVESTMENT RULES ON PENSION AND INSURANCE FUND - INDONESIA TO IMPOSE ANTI-DUMPING IMPORT DUTIES TO STRENGTHEN RUPIAH - INDONESIA PLANS ALTERNATIVE SUKUK STRUCTURES TO BOOST VOLUMES - INSIGHT: HOW SHOULD WE MEASURE EXPATS' INDONESIAN PROFICIENCY? - GOVT TO PLACE SOE SUBSIDIARIES UNDER CLOSE SCRUTINY - MANDIRI TO SET UP VENTURE CAPITAL, SEEKING EXPANSION BEYOND BANKING - CONTRACTORS TOLD TO CUT COSTS BUT KEEP OUTPUT UP - OJK TELLS BANKS TO BE VIGILANT AS BAD LOANS RISE - LPS IN FRAME FOR NEW ROLE OF PROTECTING INSURANCE COMPANIES - GOVT LOOKS TO HONE MARITIME DEVELOPMENT - GOVT TO EASE PERMITS FOR OIL & GAS SECTOR - 2015, YEAR OF SHARIA CAPITAL MARKET: OJK - FOREIGN OWNERSHIP CAP, DIVESTMENTS LOOM IN REVIVED BANKING BILL - NEW NCD, LDR RULES TO HELP BANKS - OJK TO LET INDONESIA MUTUAL FUNDS TO INVEST ABROAD - BANK INDONESIA IMPROVES THE REGULATION ON APPLICATION OF PRUDENCE IN NON-BANK CORPORATE EXTERNAL DEBT MANAGEMENT - LAND ACQUISITION AND PPP RULES TO BE REVISED - BI RATE KEPT STEADY; NO SIGN OF RATE CUT IN NEAR FUTURE - BKPM TO FACILITATE MORE INVESTMENT IN PETROCHEMICAL, PHARMACEUTICAL AND STEEL - 4 STRATEGIC EXPORT PRODUCTS REQUIRES L/C - UOB FACILITATES INVESTORS IN RI - BKPM TO TRIAL NEW LICENSING SYSTEM IN MAJOR PROVINCES - BANKS UPBEAT ON INVESTMENT WORKING CAPITAL LOANS - FOREIGN WORKERS IN INDONESIA 'MUST TAKE LOCAL LANGUAGE TEST'. - TRADE MINISTRY HAS ISSUED NEW REGULATION REGARDING EXPORT-IMPORT OF OIL AND GAS. - BI DELAYS NEW POLICY ON BANK DEPOSITS - BI TO PROMOTE E-MONEY TRANSACTIONS IN 2015 - NEW INDONESIAN REGULATION MAY BOOST GROWTH FOR MULTIFINANCE FIRMS IN 2015 - CLEARING THE WAY FOR LOCAL BONDS - IMPROVING CORPORATE GOVERNANCE SEEN AS KEY FOR FURTHER FOREIGN INVESTMENT IN INDONESIA - US EASES VISA PROCESS FOR RI CITIZENS - GENERAL ELECTION TO BOOST RUPIAH - INCENTIVES OFFERED FOR EXPORT-ORIENTED INVESTMENT - NEW REGULATION TO EASE DELISTING OF IDX COMPANIES - INDONESIA'S TRADE MINISTER RESIGNS TO FOCUS ON PRESIDENTIAL CAMPAIGN - NEW TRADE LAW EXPECTED TO BOOST DOMESTIC PRODUCTION IN INDONESIA - MINISTRY ISSUES LAW ON GOVERNMENT OFFICIALS - 2014: FDI ESTIMATED TO CLIMB 15% - CAPITOL NUSANTARA PLANS TO PURCHASE $6M VESSEL BY JULY WITH IPO PROCEEDS - SHIPPING INDUSTRY SET TO SAIL IN STORMY SEA THIS YEAR - MANDIRI SETS ASIDE $822M FOR ACQUISITIONS - OCBC NISP EYES RP 3T IN 2014 BOND SALE - LOGINDO MAKES FLAT STOCK MARKET DEBUT - LOGINDO SETS $64M TARGET IN CONTRACTS - PRESIDENT PROMISES SWIFT FINALIZATION OF REVISED DNI LIST - CHINA TO BUILD SHIPYARD IN INDONESIA - ENGLISH LANGUAGE CONTRACT DEEMED VOID BY INDONESIAN COURT - INDONESIA PLANS TO SOFTEN FOREIGN MINERS' DIVESTMENT RULE - NEWMONT GOLD MINE WORKERS IN INDONESIA START STRIKE - BI MAY USE 'LDR' POSITION TO INCREASE BANK LENDING - MINISTER: TREND IN EXPORT GROWTH UP - US, INDONESIA TO EXPAND BILATERAL COOPERATION - NINE INDONESIAN AIRLINES FINED BY KPPU - INDONESIAN STOCKS SOAR TO BIGGEST GAIN SINCE DECEMBER 2008 - NEW FINANCE MINISTER TO CONTINUE EXISTING FISCAL, MONETARY POLICIES - UP TO 49% FOREIGN CAPITAL TO BE ALLOWED IN CROP CULTIVATION ENTERPRISES - ASEAN TRADE IN GOODS AGREEMENT (ATIGA) TAKES FORCE - TELECOMMUNICATION TOWERS CLOSED TO FOREIGN INVESTORS - STANDARDIZATION FAILS TO PROTECT DOMESTIC INDUSTRY: LAWMAKERS - BI, BAPEPAM TIGHTEN UP RULES - KRAKATAU STEEL TO CONDUCT IPO IN SEPTEMBER 2010 - TELKOM LOOKS TO ACQUIRE SMALLER TELCOM FIRMS - DUBAI'S FALLOUT MAY HIT RI FIRMS - RI'S Q3 FOREIGN INVESTMENT INFLOWS PLUNGE 87 PCT - LPS GETS BOOST FROM PPATK TO HELP TRACE LOST ASSETS - BANK INDONESIA TO RESTRICT FOREIGN OWNERSHIP - THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA - BKPM TO MINIMIZE COMPLEXITY IN LICENSING