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Indonesia set to become a new investment hub for Taiwan

Taiwan is all set to target Indonesia as its new investment destination and it is expecting to inject around US$ 269 billion over the span of next five years in the country. According to th industry expert, bilateral trade between Indonesia and Taiwan stood at US$ 11.2 billion in 2014. This huge gamut of investment comes on the back of easing business policy in the country and government led initiatives to develop key industries like metal, machinery, transportation and electronics manufacturing. These intents are highly favorable for Taiwanese companies as they display a high growth trajectory in the South east Asian country. 
 
Indonesia is to become a new investment target for Taiwanese companies as the country is expecting to attract US$269 billion of investment over the next five years, reports our Chinese-language sister paper Commercial Times.
 
As the largest market among the ten ASEAN countries, Indonesia's economic growth has reached 5% on average since 2012, of which 32% came from investment. The bilateral trade volumes between Taiwan and Indonesia hit US$11.2 billion last year, said Arief Fadillah, representative of the Indonesian Economic and Trade Office to Taipei.
 
The country has been improving its investment environment, said Franky Sibarani, chair of the Indonesia Investment Coordinating Board (BKPM). It took more than 900 days and required 49 permissions for setting up an electronics factory in Indonesia in the past. Now the process period has been shortened to 250 days and only 25 permissions are required from the BKPM which integrates tasks from 22 government agencies and provides foreign investors with more simplified and effective application processes, Sibarani added.
 
The Indonesian government is focusing more on the development of industries such as metal, machinery, transportation and electronics manufacturing, which will be favorable for Taiwanese companies, said Kuo Wen-pin, president of the Taiwanese Chambers of Commerce in Indonesia.
 
(Source: Want ChinaTimes)
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Indonesia Investment Coordinating Board (BKPM)