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Indonesia woos new investors
2007-09-25
Brief:Indonesia woos new investors

THE Indonesian government has implemented a new policy it hopes will attract more investment for its various industries, including tourism.

Indonesia Investment Coordinating Board investment promotion deputy chairman, Mr Darmawan Djajusman, said: "The new law will give equal treatment to both domestic and foreign investments, including no minimum capital requirement. Investors are also free to repatriate their investments and returns."

Speaking at the second ASEAN Tourism Investment Forum (ATIF) in Bali last weekend, Mr Djajusman said investors could take disputes to the international courts if they wished. "This proves our commitment to protect investors. We will also encourage the Indonesian courts to improve their services," he said.

The board plans to open an office in Jakarta, which will be a one-stop information centre for all investment-related matters. There will be representation from regional governments.

The board is also seeking immigration and fiscal incentives, such as exemption of, or reduced, income tax for investors and foreign workers.

Mr Djajusman said the government was keen to attract investors to build tourism infrastructure such as zoos, nature reserves, hotels and other accommodation, restaurants, spas, sporting facilities, marine and theme parks.

In 2007, both foreign and domestic investors have committed more than US$755 billion in 83 projects in Indonesia.

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