"Anytime, we have investment target. For 2017, it has been set at Rp678 trillion, Chief of the BKPM Secondary Sector Sub-directorate Wahyono said after addressing an investment coordination meeting here on Thursday.
Compared to the previous year, the investment target for 2017 has increased, he said without elaborating on the investment target and realization for 2016.
"The amount of realized investment increases every year. The investment target must not fall," he stated.
To attract more domestic and foreign investment, the agency provides online investment licensing and reporting services, he noted.
"The BKPM head office serves foreign investors, and the BKPM regional offices serve domestic investors. The domestic investment services are also classified into district and provincial levels depending on the amount of investment," he remarked.
Although the BKPM is determined to increase investment, it also imposes a sanction on investors who do not meet their obligation to report their investment activities, he revealed.
The sanction includes rejection of application for expansion permit and a written warning to investors to submit a progress report on their investment activities. (WDY)