153 Foreign Companies to Invest in Indonesia after Job Bill Passed

JAKARTA, KOMPAS.com – Investment Coordinating Board (BKPM) head Bahlil Lahadalia said on Wednesday that 153 foreign investors have expressed readiness to invest in Indonesia after the omnibus bill on job creation has been officially passed into law two days ago.

The government hopes their presence in Indonesia can boost employment in the country, Bahlil said in a virtual press conference on October 7.

The new job creation law, he argued, is a solution to investor concerns such as the country's complicated licensing process and its high land prices and wages.

Also read: Protests on Job Creation Law in Indonesia’s West Java End in Chaos:

“The business community has often complained about the difficulties in applying for business permits because there is an impression of sectoral ego, overlapping regulations, and high costs on land and labor,” Bahlil said, adding that the job creation law is the solution for those issues.

He also expressed optimism that this year’s investment target can be achieved with the new law in place. This year, BKPM has set its investment target of 817 trillion rupiahs ($55.4 billion).

“The newly passed law is forward-looking, therefore, we at the BKPM are given the task of handling the inward investment to create jobs,” said Bahlil.

(Writer: Mutia Fauzia | Editor: Erlangga Djumena)

Source: https://money.kompas.com/read/2020/10/07/194152626/bahlil-sebut-153-investor-bakal-masuk-ke-indonesia-karena-uu-cipta-kerja.