Revised RPP 5/2021 Issued, BKPM Targets Investment Efficiency

The Ministry of Investment and Downstream/Investment Coordinating Board (Kementerian Investasi dan Hilirisasi/Badan Koordinasi Penanaman Modal – “BKPM”) will soon issue a Revision of Regulation of the Government (“RPP”) No. 5 of 2021 on Risk-Based Business Licensing (“PP 5/2021”) in the near future. This revision will clarify the business process and service level agreement (SLA) for issuing basic requirements that have so far been considered to hinder the business investment ecosystem.

“Insha Allah in the near future. The draft revision is about to be signed by the President, so maybe in the next few weeks if he is willing,” said Assistant Deputy for Investment Climate Development, Ministry of Investment and Downstream/BKPM, Ichsan Zulkarnaen to Hukumonline.

On the other hand, BKPM is also finalizing a draft revision of Regulation of the President No. 10 of 2021 on Investment Business Fields (“Perpres 10/2021”). The revision was carried out by reducing the number of business fields included in the Negative Investment List (Daftar Negatif Investasi – “DNI”) so that they are subject to foreign investment requirements.

“For the RPP, we have done a lot of dissemination and until today it is in the process of being initialed again by several related ministers. Meanwhile, we are still preparing the draft for the revised,” he explained.