Speaking at the Investor Daily Round Table (IDRT) event at the Ritz Carlton Hotel in South Jakarta on Friday (29/11/24,) Indonesia’s Investment Minister and Head of the Investment Coordinating Board (BKPM), Rosan Roeslani, announced plans to improve transparency in the business licensing process starting in early 2025, according to reporting from Jakarta Globe.
Business licensing in Indonesia often faces delays due to the involvement of multiple stakeholders. The government’s Online Single Submission (OSS) system, for example, requires coordination with 18 ministries to complete the licensing process comprehensively.
“We’ve discussed with these 18 ministries, emphasizing the importance of adhering to the service level agreement (SLA). For example, if a permit must be issued within three days but isn’t completed on time, we will issue the permit directly without further delay,” Rosan explained.
Jakarta Globe says that to streamline the process, the licensing system will incorporate enhanced technology for better integration. This will allow each stage of the process to be tracked transparently, providing certainty and convenience for investors.
“I’ve requested that this process be more transparent. Investors will be able to track their permits and see exactly where they are in the process. We want governance to be completely open,” Rosan said.
The initiative has been well received by business leaders, including B-Universe Executive Chairman Enggartiasto Lukita, who highlighted the importance of transparency from the outset, says Jakarta Globe, adding that “Clear deadlines are crucial, starting from the initial requirements to the final issuance. I am pleased to see this understanding and commitment from the minister. We welcome this move enthusiastically,” he said after the event.
The government hopes these measures will improve the investment climate, expedite licensing processes, and enhance Indonesia’s competitiveness as a global investment destination.
Source: Jakarta Globe
Stock photo by DISRUPTIVO on Unsplash
The post Minister: Business Licensing Process to be Streamlined by Early 2025 appeared first on Invest Indonesia.
