Riau Islands to cut red tape

The Batam, Bintan and Karimun (BBK) Special Economic Zone Commission has ..." /> Riau Islands to cut red tape

The Batam, Bintan and Karimun (BBK) Special Economic Zone Commission has ...">
Riau Islands to cut red tape

The Batam, Bintan and Karimun (BBK) Special Economic Zone Commission has ensured speedy licensing procedures free from illegal levies in a bid to attract foreign investors impacted by the global financial crisis, The Jakarta Post reported.

"We have cut the long and costly bureaucratic red tape and there won't be illegal levies demanded from officers in the field because we have provided them with proper incentives, besides monthly salaries," said head of the commission, Ismeth Abdullah, who is also Riau Islands governor.

Investors, Abdullah said, can file a complaint to the commission if licensing procedures exceed the fixed time limits and receive incentives, such as facilities in the next licensing procedures.

He said the competitive position of the area would remain advantageous, given the far higher production costs in neighboring countries such as Vietnam, Malaysia, Thailand and China.

Total investments in the Riau Islands are currently valued at $10 billion, with Singapore having the lion's share at $4 billion, followed by the US at $1.5 billion.

The BBK Zone Commission has projected further foreign investments of $5 billion over the next five years.
<span style="font-size: 14pt"><span style="font-weight: bold">Riau Islands to cut red tape </span> </span> <br /> <br /> The Batam, Bintan and Karimun (BBK) Special Economic Zone Commission has ensured speedy licensing procedures free from illegal levies in a bid to attract foreign investors impacted by the global financial crisis, The Jakarta Post reported.<br /> <br /> &quot;We have cut the long and costly bureaucratic red tape and there won't be illegal levies demanded from officers in the field because we have provided them with proper incentives, besides monthly salaries,&quot; said head of the commission, Ismeth Abdullah, who is also Riau Islands governor.<br /> <br /> Investors, Abdullah said, can file a complaint to the commission if licensing procedures exceed the fixed time limits and receive incentives, such as facilities in the next licensing procedures.<br /> <br /> He said the competitive position of the area would remain advantageous, given the far higher production costs in neighboring countries such as Vietnam, Malaysia, Thailand and China.<br /> <br /> Total investments in the Riau Islands are currently valued at $10 billion, with Singapore having the lion's share at $4 billion, followed by the US at $1.5 billion.<br /> <br /> The BBK Zone Commission has projected further foreign investments of $5 billion over the next five years.<br />
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