Jakarta (VNA) – Indonesia has set a target to attract 631,500 billion Rp (49 billion USD) from foreign investors in 2017, up about 5 percent against 2016’s 45.7-billion- USD target.

According to Chairman of the Capital Investment Coordinating Board (BKPM) Franky Sibarani, business climate limitations are challenging his country to reel in foreign investment.

The BKPM is building programmes to improve its services, focusing on simplifying investment licensing procedures, developing online investment services, enhancing support for projects related to infrastructure development, and developing strategic projects.

Other measures will also be taken, including increasing incentives and expanding production sectors receiving tax incentives, especially those using intensive labour.

The BKPM reported that investment poured into Indonesia in the first quarter of this year totaled 11.3 billion USD, equivalent to 24.6 percent of the yearly target.-VNA