Inaugurated As Minister Of Investment, Bahlil's Plans: Invite Tesla Back And Make It Easier For Investors To Arrange Licensing

Minister of Investment Bahlil Lahadalia (Photo: Doc. Antara)

JAKARTA - President Joko Widodo (Jokowi) has officially inaugurated Bahlil Lahadalia as Minister of Investment. The Investment Coordinating Board (BKPM) also rose to the status of the Ministry of Investment. After being inaugurated, Bahlil has short-term plans ranging from attracting investment from Elon Musk's electric car company, and to making investment permits easier.

Bahlil has set internal and external work targets that will be carried out in his first 100 working days as Minister of Investment. For internal targets, said Bahlil, he will consolidate within 100 days due to structural changes. Second, his party focuses on the development of Online Single Submission (OSS), because it must be ongoing in June.

"We will also consolidate the improvement of human resources in the investment ministry", he said in a virtual press conference, Wednesday, April 28.

As for the external target, Bahlil will pursue this year's investment realization of IDR 900 trillion, as requested by President Jokowi. He will also reopen communication with potential big investors such as Elon Musk's electric car company, Tesla.

"The external target is definitely related to the investment realization target. We are currently focusing on communicating, including Tesla and others", he said.

Furthermore, Bahlil said, this year there will be two or three new investors entering Indonesia. However, unfortunately, Bahlil did not want to mention who the investors were.

The Ministry of Investment will make licensing easier

According to Bahlil, there was a significant difference when the institution was still a body, and now it is a ministry. According to him, previously, the BKPM only acted as executor of regulations ranging from laws, government regulations, or ministerial regulations.

"We cannot make regulations to make rules, role models for investment. But with the Ministry of Investment, we can", he said.

Bahlil said that currently, the Ministry of Investment/the BKPM can become a focal point for linking and elaborating investment sectors from technical ministries. This is because previously the BKPM was institutionally a government institution equivalent to a minister in its position, but the authority was not the same.

By upgrading the BKPM class, continued Bahlil, all licensing is easier because both the administration and the technical level of investment are in the institution.

"Investors are welcome to come with technology, capital, and a part of the market. Let the state permits help. The important thing is serious entrepreneurs. Because many businessmen get permits but also sell their permits at the same time", he explained.

Holding investment is the same as withholding jobs

According to Bahlil, his ministry will later become a key point to connect, synergize both investments from abroad and from within the country both from the regional and central government to become one door.

Furthermore, Bahlil said that according to President Jokowi's direction through the Job Creation Law to facilitate investment licensing. This is because, he said, holding back an investor's permission to invest is the same as holding back national economic growth.

"It is the same as withholding jobs, as well as withholding sources of state revenue from the state and the Ease of Doing Business (EoDB) or the ease of doing business index. We will not experience improvement", he said.

Bahlil explained that President Joko Widodo asked for economic transformation by increasing added value and equitable economic growth from Aceh to Papua.

"What we are doing today is to increase quality investment for Foreign investment (PMA) and Domestic Investment (PMDN) but also to equalize investment growth in Java and outside Java because the President sees a large area, not only focusing on one island", he said.