Batam, Bintan and Karimun Need Fiscal Incentives

TEMPO Interactive, Jakarta:The Chairman of the Investment..." /> Batam, Bintan and Karimun Need Fiscal Incentives

TEMPO Interactive, Jakarta:The Chairman of the Investment...">
Batam, Bintan and Karimun Need Fiscal Incentives

TEMPO Interactive, Jakarta:The Chairman of the Investment Coordinating Board (BKPM), Gita Wirjawan, has said that fiscal incentives are needed to attract investment to the Special Economic Zones (KEK) of Batam, Bintan and Karimun.

“Other big countries have prepared fiscal policies to attract investment, such as tax holidays,” said Gita last week.

According to Gita, the policy must be applied soon.

“Investors’ money is democratic, it could go to competing areas, such as Johor, China and India,” said Gita.

Gita explained that in the first quarter of this year, there were several investments in the KEKs of Batam, Bintan, and Karimun.

For example, investment from Singapore amounted to US$ 670 million.

But, more policies are needed to attract more investments.

Previously, Trade Minister Mari Elka Pangestu said that targets for the KEKs of Batam, Bintan, and Karimun were not reached.

In 2006, the government expected that exports to these regions would increase from US$6 billion to US$10 billion in 2009.

This target was hard to reach, considering that in 2008, exports from the area decreased to US$4.6 billion.

The government also targeted that the KEKs of Batam, Bintan, and Karimun could attract investment of US$1 billion and create employment for 130,000 persons.

To reach these goals, the government has conducted various efforts, among them completing the legal regulations and cooperating with Singapore for a joint investment promotion.

The Deputy Head of the Riau Chamber of Commerce and Industry, Abdullah Gosse, said that the obstacles for investment in those areas were more due to governmental regulations.

One example of this is the master list regulation.

In January last year, the government revised Financial Minister regulations no. 45, 46 and 47.

In the new regulation, the master list has been changed to type of goods list or invoice.

EKA UTAMI APRILIA
<span style="font-size: 14pt"><span style="font-weight: bold">Batam, Bintan and Karimun Need Fiscal Incentives</span></span><br /> <br /> TEMPO Interactive, Jakarta:The Chairman of the Investment Coordinating Board (BKPM), Gita Wirjawan, has said that fiscal incentives are needed to attract investment to the Special Economic Zones (KEK) of Batam, Bintan and Karimun.<br /> <br /> &ldquo;Other big countries have prepared fiscal policies to attract investment, such as tax holidays,&rdquo; said Gita last week.<br /> <br /> According to Gita, the policy must be applied soon.<br /> <br /> &ldquo;Investors&rsquo; money is democratic, it could go to competing areas, such as Johor, China and India,&rdquo; said Gita.<br /> <br /> Gita explained that in the first quarter of this year, there were several investments in the KEKs of Batam, Bintan, and Karimun.<br /> <br /> For example, investment from Singapore amounted to US$ 670 million.<br /> <br /> But, more policies are needed to attract more investments.<br /> <br /> Previously, Trade Minister Mari Elka Pangestu said that targets for the KEKs of Batam, Bintan, and Karimun were not reached.<br /> <br /> In 2006, the government expected that exports to these regions would increase from US$6 billion to US$10 billion in 2009.<br /> <br /> This target was hard to reach, considering that in 2008, exports from the area decreased to US$4.6 billion.<br /> <br /> The government also targeted that the KEKs of Batam, Bintan, and Karimun could attract investment of US$1 billion and create employment for 130,000 persons.<br /> <br /> To reach these goals, the government has conducted various efforts, among them completing the legal regulations and cooperating with Singapore for a joint investment promotion.<br /> <br /> The Deputy Head of the Riau Chamber of Commerce and Industry, Abdullah Gosse, said that the obstacles for investment in those areas were more due to governmental regulations.<br /> <br /> One example of this is the master list regulation.<br /> <br /> In January last year, the government revised Financial Minister regulations no. 45, 46 and 47.<br /> <br /> In the new regulation, the master list has been changed to type of goods list or invoice.<br /> <br /> EKA UTAMI APRILIA<br />
KuKuKaChu: dangerously too sophisticated
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