Govt to Establish Central Investment Licensing
DENPASAR ~ The Bali government is planning to establish a central office for investment licenses in Bali to enable investors to get access to all licensing requirements in one place.
Head of the Bali Investment Coordination Board I Made Kandiyuana said on Wednesday that a plan for the office had been devised and a budget of Rp3 billion (US$331,538) prepared.
He said the central office would provide all necessary services, from registration for licenses until the time they are issued.
â€œWhat we are going to do is combine the groups that are responsible for handling licenses and investments,â€ he said, adding that the facility could be available online but at present there was a lack of experience personnel to handle such a service.
Kandiyuana encouraged investors to create more developments that were environmentally friendly as well as profitable for the region, as many investments disregarded local regulations and exploited natural resources.
In 2006, the Bali government approved 168 projects valued at Rp10.2 trillion, 161 of which were foreign investments. So far this year, until October, the government has approved 112 projects worth Rp5.2 trillion, 110 of them foreign investments, government data show.Filed under: The Island