It dominated, or accounted for 37.51 percent of the investment plans in the tertiary sector, which this year amounted to Rp1,886 trillion, according to the Investment Coordinating Board (BKPM) on Tuesday.
Compared to the previous year, a significant increase of 238 percent was recorded in the investment plans for which the principle permits were proposed in the electricity sector this year.
"The high number of investment plans in the power sector reveals the enthusiasm of the investors in the government's program to build power plants to generate 35 thousand megawatts of electricity within the next five years," Head of BKPM Franky Sibarani stated in a press release received here on Tuesday.
He noted that investment in the electricity sector can support the development of long-term investment in other sectors through the provision of energy.
"In our visits to oversee the various investment projects in 2015, investors raised the issue of energy availability as one of the main problems they were facing. Therefore, in the long term, investment realization in the electricity sector is important to improve the competitiveness of investments in other sectors, especially in terms of energy availability," he emphasized.
Franky also explained that one of the efforts to promote the realization of investment in the electricity sector is to increase coordination among the relevant ministries and institutions, especially the Ministry of Energy and Mineral Resources and state-owned power firm PLN.
Earlier, the BKPM in cooperation with other ministries had managed to streamline licensing procedures in the electricity sector from the previous 49 permits, with the processing time of 923 days to 25 permits, with a processing time of 256 days.
In addition, the government had also provided a tax allowance facility for investment in the electricity sector, with a maximum processing time of 28 days carried out through the One Stop Services (PTSP) Center at the BKPM.
"The streamlining of licensing procedures is expected to accelerate the process of investment realization in the electricity sector. Moreover, the Ministry of Energy and the Ministry of Agrarian and Spatial Affairs also assigned their Echelon I officials in BKPM's PTSP to facilitate better coordination to overcome any obstacles," he affirmed.
The BKPM recorded an increase in investment plans reaching Rp1,886.04 trillion during the period between January 1 and December 28, 2015, up 45.29 percent from Rp1,298.1 trillion recorded in the previous year.
Foreign direct investment plans in the corresponding period also rose 18.06 percent from Rp962.5 trillion in 2014 to Rp1,136.36 trillion in 2015. Moreover, domestic investment also soared by 123.32 percent from Rp335.7 trillion in 2014 to Rp749.68 trillion in 2015. (WDY)
: I Gusti Bagus Widyantara
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