Darmin Believes OSS Could Attract More Investments

Eko Nordiansyah    •    21 September 2018 13:58 WIB
indonesian economy (en)
Darmin Believes OSS Could Attract More Investments
Coordinating Minister for Economic Affairs Darmin Nasution (Photo:Medcom.id/Kautsar Widya)

Jakarta: Coordinating Minister for Economic Affairs Darmin Nasution hopes that the Online Single Submission (OSS) system could cut the time to process an invesment license.

"The previous offline system takes too loong. It consists of too many steps," Darmin told reporters on Friday.

According to the official data, OSS has issued 38,835 Single Business Numbers since July 9. In addition, the only system has received 71,914 applications as of September 12.

"It is connected with the Law and Human Rights Ministry, the Home Affairs Ministry, the Investment Coordinating Board, the Directorate General of Taxation as well as the Communication and Information Ministry. It is the first in this country," Darmin explained.

Domestic and foreign investment realization in Indonesia stood at Rp176.3 trillion in the second quarter of 2018. It grew by 3.1 percent compared to the same quarter last year.

Foreign direct investment realization in Indonesia stood at Rp97.5 trillion last quarter. It decreased by 12.9 percent compared to the same period last year.


(WAH)