Jakarta: Investment Coordinating Board (BKPM) head Thomas Lembong said on Tuesday that his agency is committed to improve the online single submission (OSS) licensing service system.
"Since we took over OSS on January 2, we have carried out a number of improvements," the former trade minister said,
According to reports, OSS was initiated by the government in October 2017. In its initial stage, the licensing service system was managed by the Coordinating Minister for Economic Affairs.
"As an online system, it can be accessed from everywhere," he added.
In the near future, BKPM will hold a national coordination meeting to discussed about the implementation of OSS. In the meeting, the government will train local officials to use the licensing service system.
"We will coordinate with other government agencies and local officials. We will synchronize our policies," he added.
Quoting a report from BKPM, domestic and foreign direct investment realization in Indonesia only reached Rp721.3 trillion in 2018. It only grew by 4.1 percent compared to the previous year.
Domestic investment realization reached Rp392.7 trillion last year. It increased by 25.3 percent compared to the previous year.
Foreign direct investment realization reached Rp328.6 trillion in 2018. It decreased by 8.8 percent compared to the previous year.
According to the Central Statistics Agency (BPS), Indonesia recorded a trade deficit of US$8.57 billion in 2018. It was the highest ever recorded by the agency.
Indonesian exports reached US$180.06 billion in 2018. The number increased by 6.65 percent compared to 2017.
Indonesian non-oil and gas exports reached US$162.65 billion last year. The number increased by 6.25 percent compared to the previous year.
In the meantime, Indonesian economy grew by 5.17 percent in 2018. It was Indonesia's highest annual growth in five years.
Indonesian economy grew by 5.18 percent in the fourth quarter of 2018. The growth was slightly stronger than earlier expectations.