RI to provide ?sweeteners? to allure foreign investors
Tuesday, December 4 2001 - 04:03 AM WIB
The Investment Coordinating Board (BKPM) is currently drafting a new investment bill which promises certain ?sweeteners? to allure foreign investors to invest in the country, according to BKPM chief Theo Toemion.
Theo said that one of the sweeteners is the elimination of current ruling requiring 100 percent foreign investment company to divest stake to local investors after a certain period of operation.
He said that the new investment bill would soon be submitted to the parliament to be debated and approved. He said that the government must make breakthrough measures to attract badly needed foreign investment.
For the oil and gas sector, Theo said that he had reached agreement with the minister of energy and mineral resources to allow BKPM to handle the downstream of the oil and gas sector. ?We are now only discussing the technical details,? he said.(Arri)