The service was launched on January 11 (Photo:VNA)
Jakarta (VNA) - The Indonesian Investment Coordinating Board (BKPM), launched a three-hour investment permit service on January 11.

The service will be granted to investments worth more than 100 billion Indonesian rupiah (nearly 8 million USD) or for projects that could employ over 1,000 local workers.

The service provides investors with eight licensing products plus one land book permit.

Investors are able to directly register the service at the BKPM.

At the launching ceremony, Vice President Jusuf Kalla said the programme will reduce the time taken to process investment procedures to three hours, instead of 23 days.

The service is aimed at improving the investment environment, and creating favourable conditions for foreign businesses to invest in the country, he said, adding that the Indonesian government encourages investors to focus on infrastructure, logistics, and finance.-VNA