Berita Terkait

Kamis, 14 November 2024

The Ministry of Investment and Downstream Industry Strengthens Collaboration with Bank Indonesia to Boost Economic Growth

Jakarta, November 14, 2024 – In an effort to strengthen the investment climate and enhance harmony between institutions in supporting national economic growth, the Ministry of Investment and Downstream Industry/Investment Coordinating Board (BKPM) and Bank Indonesia (BI) officially sign a Cooperation Agreement (PKS) on Financial Sector Related Licensing on Wednesday morning (13/11) at Bank Indonesia's office in Kebon Sirih, Jakarta. The signing of this PKS coincides with the Central Banking Service Excellence Achievement (CB SEA) 2024, an annual event organized by BI.

Deputy Minister of Investment and Downstream Industry Todotua Pasaribu, as a representative for the Ministry of Investment and Downstream Industry/BKPM, who signed the cooperation agreement, expressed his appreciation to Bank Indonesia for the strong collaboration that has been established to foster a conducive investment climate in Indonesia. He also mentioned that this cooperation agreement is a follow-up to the memorandum of understanding signed last August by the Minister of Investment and Downstream Industry and the Governor of BI as a concrete step to strengthen strategic cooperation between the two institutions to simplify licensing processes and provide certainty for investors, particularly in the financial sector.


Eight Percent Economic Growth Target

Both institutions were optimistic that Indonesia's economic growth target of 8% could be achieved. The Deputy Minister of Investment and Downstream Industry revealed that one of the indicators of achieving this target was increasing investment and downstream development. “In the next five years, to achieve the 8% economic growth target, there is a number from Bappenas that is an investment requirement of approximately Rp 13,560 trillion,” Todotua explained.


Todotua also added that this investment target can only be realized through comprehensive efforts, “talking about investment and downstream development means we are talking about strategies. From the inflow of investment itself, to the most important aspect, which is the realization of investments that provide added value,” Todotua said.

 

Cooperation Agreement on Financial Sector Related Licensing

The Cooperation Agreement between the Ministry of Investment and Downstream Industry/BKPM and BI became one of the factors to bring about ease of investment in digital financial transactions. Senior Deputy Governor of BI Destry Damayanti, in her remarks, explained that this PKS represents the commitment of both institutions to implementing business licensing services in the financial sector based on the principles of PASTI (Professional, Accountable, Simple, Transparent, and Informative). “More efficient services in the financial sector licensing system will undoubtedly reduce processes in doing business. This supports the government's aspiration to improve Indonesia's Ease of Doing Business that must get better,” Destry revealed.


This collaboration will be realized through the utilization of licensing data and information in the financial sector from both institutions. The data included the Indonesian Standard of Industrial Classification (KBLI) and financial sector licensing issued by BI, as well as the Business Identification Number (NIB) issued by the Ministry of Investment and Downstream Industry/BKPM through the Online Single Submission (OSS) system. Furthermore, through this PKS, to ease the process for financial sector businesses, both institutions would implement a Hyperlink in the form of placing the OSS logo and link on the front page of Bank Indonesia's licensing application, and vice versa—the Bank Indonesia licensing application logo and link on the OSS system.(*)

For further information, please contact:

Ahmad Faisal Suralaga

Head of Communications and Information Services Bureau

Ministry of Investment and Downstream Industry/BKPM

Email: humas@bkpm.go.id

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