British Investment

Sep 1st, 2006, in Business & Economy, by

The lack of British capital inflow into Indonesia is a result of the difficulty in acquiring investment permits, says British ambassador to Indonesia Charles Humfrey.

Speaking to the South Sulawesi Governor Amin Syam on the 29th Humfrey said mediaindo that long bureaucratic delays put off investors, who had to first contact the finance ministry, then the central investment board, other relevant ministries, and finally the governors or district heads of areas where the investment was intended to be made.

Humfrey advised that governors alone by responsible for issuing investment permits while the central government in Jakarta should serve simply as a facilitator or supervisor of foreign investors. Local governors were better placed to take up the responsibility of permit issuing because they knew more about their respective provinces.

Governor Amin Syam, not unsurprisingly, was heard to voice his approval at these words.

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March 25th 2007.

Director of Jardine Group Lord Powell of Bayswater met with Vice President Jusuf Kalla on the 16th and complained about the over abundance of regulations that investors need to deal with and the frequent changes in investment policy.

Also present at the meeting was Leonard Rous, Press Attaché of the British Embassy in Indonesia, who delivered a special message from British Prime Minister Tony Blair to President Susilo Bambang Yudhoyono. Rous said:

I am not only here for business interests, but also to convey the Prime Minister’s message regarding capital investment. The main concern is still legal issues.

He said he hoped that the draft bill on Capital Investment could succeed in boosting foreign investment. tempo

We are absolutely certain that investment in Indonesia will increase. I am ready to consolidate more investment and trading in Indonesia.


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