4 December 2018 Indonesia Investment Updates on Eco- Products IMAM SOEJOEDI DIRECTOR OF INVESTMENT PROMOTION Indonesia-Japan 60 TH Anniversary Workshop for Forest Business
4 December 2018
Indonesia Investment Updates on Eco-Products
IMAM SOEJOEDIDIRECTOR OF INVESTMENT PROMOTION
Indonesia-Japan 60TH Anniversary Workshop for Forest Business
The Investment Coordinating Board of the Republic of Indonesia
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INVESTING IN INDONESIA: WHY NOW?
WHY INDONESIA WHY NOW?▪ Steady economic growth in the past 10 years▪ Investment grade by all major rating firms▪ 5th largest economy in the world by 2030▪ 135 million consuming class by 2030▪ 180 million population in productive age by 2030▪ Significant imporvement in regulatory environment
as reflected in Ease of Doing Business
• Most aggressive infrastructure development in Indonesia’s history
• Extra incentive for investments in industrial, tourism and special economic zones
• Fiscal reform for long term sustainable growth• Law reform to ease business and investment• Concrete policy for eradication of corruption• Citizens’ trust on the Indonesian Government is at all
time high• Strong investors’ confidence to invest further in
Indonesia• Policies reform in ICT Sectors
We are once again confronting challenging times in Indonesia. The world looks full of uncertainty and risk. What does it all mean? It means that today is the time to invest - the best time to invest.
__________________________________________________President Joko Widodo
at Singapore-Indonesia Business Dialogue 2017
Source: WorldBank Report, 2017
The Investment Coordinating Board of the Republic of Indonesia
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SafeStable Reformist
Rank Country Index Score
1 Singapore 97
2 Norway 93
3 Iceland 93
4 Finland 93
5 Uzbekistan 91
6 Hong Kong 91
7 Switzerland 90
8 Canada 90
9 Indonesia 8910 Denmark 88
Top Ten Safest Countries
Source: Gallup World Polls, 2018
On 27 June 2018, Indonesia has successfully organized 171 regional elections (Pilkada Serentak) in order to choose executive heads in 17 provinces , 115 regencies, and 39 cities. The most talked-about regions is West Java, East Java, & Central Java. The previous simultaneous elections were in 2015 with 269 regions and in 2017 with 101 regions.
..as a result, Indonesia has been considered as a SECURE, STABLE AND REFORMIST country by International Rating Agencies
Indonesia’s GDP Rises from 8th in 2016 to 4th in 2050
4
PPP Rank
2016 2030 2050
Country GDP at PPP(2014 US$bn) Country Projected GDP at
PPP (US$bn) Country Projected GDP at PPP (US$bn)
1 China 21,269 China 38,008 China 58,4992 United States 18,562 United States 23,475 India 44,1283 India 8,721 India 19,511 United States 34,1024 Japan 4,932 Japan 5,606 Indonesia 10,5025 Germany 3,979 Indonesia 5,424 Brazil 7.5406 Russia 3,745 Russia 4,736 Russia 7,1317 Brazil 3,135 Germany 4,707 Mexico 6,8638 Indonesia 3,028 Brazil 4,439 Japan 6,7799 UK 2,788 Mexico 3,661 Germany 6,138
10 France 2,737 UK 3,638 UK 5,369
GDP at PPP Rankings (Projection for 2030 and 2050)
World Bank’s Economic Growth ProjectionCountry 2017 2018 2019 2020
China 6.8 6.4 6.3 6.2Cambodia 6.8 6.9 6.7 6.7Philippines 6.7 6.7 6.7 6.5Vietnam 6.7 6.5 6.5 6.5Laos 6.7 6.6 6.9 6.9Myanmar 6.4 6.7 6.9 6.9Malaysia 5.8 5.2 5.0 4.7Indonesia 5.1 5.3 5.3 5.3Thailand 3.5 3.6 3.5 3.4
Indonesia in 2045:▪ Population: 309 million▪ Working age population: 52%▪ Urban population: 75%▪ Middle class population: 80%
▪ Income per capita: USD 29,300▪ Share economy from service: 73%
After around 2018, growth could get back on track both in China and in emerging Asia more generally, in part because China will be pushing its productive capacity into other lower cost places like Vietnam, Indonesia, the Philippines and maybe also Myanmar.
Rebecca Harding, CEO of Delta Economics
Source: How will the global economic order change by 2050, PwC, 2017; WorldBank, 2018
The Investment Coordinating Board of the Republic of Indonesia
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Tax &Incentive
2
LandAcquisition
3
Regulation
1
PublicInfrastructure
5 Skilled Labor & Foreign Worker
4
Issues:• Uncertain regulation,• Licensing is considered complicated, • Lack of coordination among Ministries and Central-Local Government
Government Efforts:• In the Economic Package 16th launched on September 2017, the Government released a Presidential Regulation No. 91 Year 2017 regarding to Acceleration of Doing Business.
• Single submission system that implying the investors will only have to go one place to obtain all required licenses. The IT and database system will be connected
Issues:• Land acquisition is the biggest challenge for foreign investors The process may take years, and could cause substantial delay and uncertainty.• Speculative rising price of land
Government Efforts:• Issuance of Government Regulation No. 13 year 2017 on RTRW (spatial plans). The Minister of Agrarian could issue a recommendation of space utilization to speed up project permissions.
• The Ministry of Industry to set a price ceiling for industrial land, intended to maintain price stability and enhance the attractiveness of industrial land
Issues:• Limited number of skilled labor• Complicated procedure to obtain Foreign Worker Permit
Government Efforts:• The Government is preparing incentives formulation for industry that supporting vocational and training program• The Government is preparing Government Regulation that process of obtaining Foreign worker Permit will be delegated to BKPM (one roof)• Governmenr Regulation No. 22 of 2018 has released to ease foreign worker.
Issues:• Slow dwelling time on the port• Lack of infrastructure caused by lack of funding
Government Efforts:• Starting on Feb 1, the Government implement “post-border” system, in which the physical checking of some restricted goods will be done outside the customs area of the port, in order to reduce the length of time goods remain in the port
• Indonesian Government offer several alternative financing i.e. PINA (Non State Budget Financing) through various financial instrument (perpetual bonds, securitization, etc.)
Issues:• Complicated tax collection, slow service of tax collection• Fiscal incentive is not attractive to investors
Government Efforts:• Ministry of Finance on 21 Feb launched tax data integration system to improve taxpayer data transparency
• Ministry of Finance will revise tax incentives regulation for more wide range of business sectors. At least 20 business sectors to be added from existing 145 business field in Tax Allowance. The regulation also will give simpler mechanism on applying Tax Allowance/Tax Holiday• Ministry of Finance has issued regulation No. 35/2018 on Tax Holiday
5 Common Challenges faced by Investor on Doing Business in Indonesia
The Investment Coordinating Board of the Republic of Indonesia6
Rank Country 2013 2014 2015 2016 2017 Q3 2018 Total
1 Singapore 4,672.0 5,832.1 5,901.2 9,178.7 8,441.6 6,701.9 40,727.4
2 Japan 4,712.9 2,705.1 2,877.0 5,400.9 4,996.2 3,753.5 24,445.6 3 China 296.9 800.0 628.3 2,665.3 3,361.2 1,827.7 9,579.5
4 Malaysia 711.3 1,776.3 3,077.0 1,115.6 1,213.6 1,181.2 9,074.9
5 South Korea 2,205.5 1,126.6 1,213.5 1,065.8 2,024.6 940.0 8,576.0
6 USA 2,435.8 1,299.5 893.2 1,161.9 1,992.8 1,002.2 8,785.4
7 Hong Kong, PRC 376.2 657.3 937.2 2,248.3 2,116.5 1,636.6 7,972.1
8 Netherland 927.8 1,726.3 1,307.8 1,475.2 1,489.4 778.9 7,705.4
9 British Virgin Islands 785.7 624.0 730.5 1,157.3 844.8 786.9 4,929.2
10 United Kingdom 1,075.8 1,588.0 503.2 307.3 774.8 235.2 4,484.2
Total (Top 10 Countries) 18.199,9 18.135,3 18.068,8 25.776,3 27.255,6 19,274.0 126,709.8
TOTAL (144 countries) 28,617.5 28,529.7 29,275.9 28,964.1 32,239.8 21,921.2 169,548.2
Source: BKPM, November 2018
In USD Million
DDI 36% (IDR 1,184.0T)
FDI 64% (IDR 2,064.1T)
In the last 5 years, IDR 3,248.1 T Investment has been Recorded,
with Japan as the 2nd Largest Investing Countries
Transportation Equipment and Other Transportation (37%)
Basic Metal, Metal Goods, Machinery, and Electronic Industry (16%)
Electricity, Gas, and Water (12%)
House, Industrial Estate, and Office(8%)
Basic chemical, chemical, & pharmaceutical(6%)
Others (21%)
24.5billion US dollarsTotal FDI realization
in 2013 – Q3 2018
Rank
2ndAmong total FDIin 2013 – Q3 2018
By sector
Source: BKPM, November 2018 Total Project : 12,404 Projects
Local Workers : 676,898 People
By location
Java (94%)
Sumatra(5%)
Kalimantan (1%)
Sulawesi, Papua, Maluku, Bali, and Nusa Tenggara (0%)
3.8billion USDin Q3 2018
3.9billion USDin 2017 Q3
11%Y-o-Y
FDI realization2013-2017
Japanese Investment Realization in Indonesia Continues to Increase (2013 – Q3 2018)
The Investment Coordinating Board of the Republic of Indonesia8
Some Big Japanese Companies Have Invested in Indonesia
The Investment Coordinating Board of the Republic of Indonesia9
Infrastructure 35 GW power generation 24 Sea ports Multimode
Transportation
Agriculture Food estate Corn Plantation Cattle Salt
Industry
Labor-intensive industry Textile Food &
Beverages Furniture Footwear Lifestyle
Import-substitution
industryChemical &
Pharmaceutical Iron & Steel Component Defend Industry
Export-oriented industry Electronics
CPO & Derivative Products
Wood Products, Pulp & Paper Automotive
Downstream industry of natural
resourcesCacao Sugar Smelter
Maritime Ship Building Cold Storage Marine Technology
Tourism, SEZ & Industrial Park10 Tourism
Priority Destination
10 Tourism SEZ 8 Existing SEZ 7 New SEZ14 Priority Industrial
Parks
Digital Economy e-Commerce Financial Technology
IT Based Creative Economy
INDONESIA’S INVESTMENT PRIORITY SECTORS 2015-2019
Eco-Products as
the NEW BIG DEAL
63% of Indonesian consumer are willing to take Eco-products, despite the
different price [Nielsen, 2017]
The Investment Coordinating Board of the Republic of Indonesia
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Culinary (41.69%)*;Fashion (18.15%);
Craft (15.70%);TV & radio (7.78%);Publishing (6.29%);
Architecture (2.30%);Apps & game developer (1.77%);
Advertising (0.80%);Music (0.47%);
Photography (0.45%);Performing arts (0.26%);Product design (0.24%);
Fine arts (0.22%);Interior design (0.16%)’
Film (0.16%);Visual comms. Design (0.06%).
Source: Barekraf, 2017; pic: network.bbtv.com, 2017
7.38%of 2016 GDP
*Proportion of each sub sector to total creative economy GDP, 2016.
valued for IDR 852 trillion grow 4.38% yoy
Indonesia New Big Things:Creative Industry, Lifestyle, Digital Economy, and Tourism
IndonesiaInvestment Coordinating Board11
The 10 New ‘BALI’
Tj. Kelayang
Wakatobi
Labuan Bajo
Bromo – Tengger - Semeru
Borobudur
Kep. Seribu
Lake Toba
Tj. Lesung
Mandalika
Morotai
4 Tourism SEZ
6 National Strategic Tourism Zones (KSPN)
Indonesia New Big Things:More Tourism Destinations are Created, including Eco-Tourism
IndonesiaInvestment Coordinating Board12
Indonesia New Big Things:Indonesia’s Energy Consumption is Shifting from Oil and Coal to Renewable Resources
23%
30%
25%
22%
2025
4.79%
31%
2011
2050
Some Japanese companies have invested in hydropower plant, such as KEPCO, J-Power, etc.
Korean Companies (GIMCO) has signed
MoU with local companies to invest in
wood pellet industry that will be exported
as Korean power plant fuel.
The Investment Coordinating Board of the Republic of Indonesia13
Kalimantan RegionSumatera Region
1 Geothermal MW -
2 Hydro MW 1.056
3 Micro Hydro MW 10
4 Solar MWp -
5 Wind MW 15
6 Biomass/MSW MW 41
7 Marine MW -
8 Bio-Fuel Thou KL 830
1 Geothermal MW 3.305
2 Hydro MW 4.284
3 Micro Hydro MW 983
4 Solar MWp 5
5 Wind MW -
6 Biomass/MSW MW 274
7 Marine MW -
8 Bio-Fuel Thou KL 411
Total MW 8.851
No Power Plants Capacity Total
1 Geothermal MW 2.150
2 Hydro MW 4.562
3 Micro Hydro MW 437
4 Solar MWp -
5 Wind MW 250
6 Biomass/MSW MW 206
7 Marine MW -
8 Bio-Fuel Thou KL 439
Total MW 7.965
No Power Plants Capacity Total
1 Geothermal MW 400
2 Hydro MW 2.323
3 Micro Hydro MW 221
4 Solar MWp 52
5 Wind MW 170
6 Biomass/MSW MW 21
7 Marine MW -
8 Bio-Fuel Thou KL 4.423
Total MW 3.186
1 Geothermal MW 75
2 Hydro MW 118
3 Micro Hydro MW 43
4 Solar MWp -
5 Wind MW -
6 Biomass/MSW MW 55
7 Marine MW -
8 Bio-Fuel Thou KL 469
Total MW 290
Java-Bali RegionSulawesi & Nusa Tenggara Region
Maluku & Papua Region
There are 21.6 GW RE potential spreads in 12
regions“ “
Source: RUPTL 2017 – 2026 PT. PLN Persero
Mentawai Off-Grid Biomass Power Plant Project
Investment Opportunity:• Development, implementation, and operation an Off-Grid Bamboo-Based Biomass Power Plant Project with a total capacity of 5 MW• Construction a power plant in each 20 villages located in Siberut and Mentawai Islands
Project Schedule:• Recent status: Feasibility Stage• 2018: contract signing at tariff US cent 16.41/kWh (85% of BPP – US cent 19.30/kWh)
Investment Plan:• Project cost: USD 27.7 Mn• Concession period: 20 years• FIRR/ NPV: 13%/ USD 9 Mn
Contracting Agency:PT Charta Putra IndonesiaCP: Jaya Wahono
Project Site:Siberut and Mentawai Islands, West Sumatera
Source: PPP Book, 2018
The Investment Coordinating Board of the Republic of Indonesia
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Focus on 5 industry sectors :1.Food & beverage2.Textile 3.Automotive4.Electronics5.Chemical
Cyber-Physical, Internet of things,Collaborative manufacturing
Eco-Products in Industry 4.0
The Investment Coordinating Board of the Republic of Indonesia
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Central Java▪ KI Kendal▪ KI Bukit Semarang Baru▪ KI Wijayakusuma▪ KI Demak ▪ Tanjung Emas Export Processing Zone
East Java▪ Java Integrated Industrial▪ & Port Estate▪ KI Maspion ▪ KI Tuban ▪ Safe N Lock Industrial Estate
South Sulawesi▪ KI Bantaeng▪ KI Makassar
Banten▪ Modern Cikande Industrial Estate▪ KI Wilmar▪ Krakatau Industrial Estate Cilegon▪ Millenium Industrial Estate
West Java▪ Bekasi Fajar Industrial Estate▪ KI Delta Silicon 8▪ Karawang Internasional Industrial City▪ Suryacipta City of Industry▪ GT Tech Park▪ Artha Industrial Hill▪ KI Marunda Center▪ KI Greenland International Industrial Center (GIIC)/Deltamas ▪ KI Jababeka Tahap III
North SumatraKI Medan
Riau Islands ▪ Batamindo Industrial Park ▪ Bintang Industriall Park II ▪ Kabil Integrated Industrial Park ▪ West Point Maritime Industrial Park ▪ Bintan Inti Industrial Estate
DKI Jakarta▪ Kawasan Berikat Nusantara/KBN ▪ KI Jakarta Industrial Estate Pulagadung/JIEP
▪ KI Kota Bukit Indah Ind. City ▪ KI Indotaisei Kota Bukit Indah▪ East Jakarta Industrial Park ▪ Bekasi International Industrial Estate▪ MM 2100 Industrial Town ▪ KI Terpadu Indonesia - China ▪ KI Kujang Cikampek▪ KI Lion ▪ Cibinong Center Industrial Estate▪ KI Rancaekek
East KalimantanKI Kariangau
Riau▪ KI Dumai▪ KI Tanjung Buton
West Sumatera▪ KI Padang
Yogyakarta▪ KI Piyungan
Where to invest?47 Industrial Estates with Direct Constructions (KLIK) Facility
The Investment Coordinating Board of the Republic of Indonesia
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Sei MangkeiPalm Oil & Rubber Industry, Fertilizer, Logistics, Tourism
Tanjung Api-apiPalm Oil, Rubber,
Petrochemical Industries
Tanjung LesungTourism
Maloy BatutaPalm Oil, Coal and Mining
BitungFishery, Coconut Oil & Herbal
Pharmacies Industries, Various Industry,
Logistics
PaluManufacture, Agro (Rubber, Cacao, Seaweed, & Rattan) Nickel & Ore Industry, Logistics
MorotaiTourism, FisheryIndustry, Manufacture & Logistics
Arun LhoksemawePetrochemical, Logistics, Oil &
Gas Food & Paper Manufacture
SorongShipyard, Fishery & TourismKelayang
Tourism
MandalikaTourism
Fiscal incentives in SEZ are regulated underMinister of Finance Regulation No. 104/PMK.010/2016):
Tax Incentive:• Income tax reduction from 20% up to 100% for periods of max 25 years• Free VAT for import on raw materials
Facility:• Property ownership and residence permit for foreigner• The ease of investment licensing, land, immigration and work integrated in SEZ
Where to invest?11 Special Economic Zones
The Investment Coordinating Board of the Republic of Indonesia
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New Regime: One Single Submission (OSS)#2 One Stage of Processing
The Investment Coordinating Board of the Republic of Indonesia
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New Regime: One Single Submission (OSS)#3 One Format of Business Licensing
The Investment Coordinating Board of the Republic of Indonesia
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Investment Incentives: New Tax Holiday PolicyPROVISIONS AFTER
(MoF Regulation No. 35 of 2018)
SubjectNew Investment with minimum value of 500bn Rupiah
Industry GroupsApplied to 17 industry group
Reduction rate
100%(single rate)
Concession Period
Transition time50% reduction for the next 2 years
After Tax Holiday
Tax allowance for business expansion can be provided with T&C applied.
No. Time Period Investment Value1. 5 years IDR 500 billion up to less than IDR 1 trillion
2. 7 years IDR 1 trillionup to less than IDR 5 trillion
3. 10 years IDR 5 trillion up to less than IDR 15 trillion
4. 15 years IDR 15 trillion up to less than IDR 30 trillion5. 20 years Minimum IDR 30 trillion
Tax Payer
One Stop Service at BKPM
Criteria and Requirements check
Document Submission
BKPM Recommendation
Approval byMinister of Finance 5 Working
Days
New Scheme of Tax HolidayBased on Ministry of Finance Regulation No. 35 Year 2018
Note:• New scheme is faster than previous procedure with 45 working days• Must be submitted before commercial phase. Not only for new company.• Tax Holiday application can be submitted simultaneously at investment registration or at least 1 (one) year after the investment registration issued
Equitable and Non discriminatory treatment against country of origin
TAX ALLOWANCEGovernment Regulation No. 9 of 2016
145business fieldsEligible for tax allowance, expanded from 143 segments in the previous regulation with additional segment: clothing industry.
30 % of investment value Reduction of corporate net income tax for 6 years, 5% each year.
For those taxpayers who have :• Principal licenses (IP) and its changes issued by BKPM;• Principal Licenses for Expansion (IP-PL) and its changes issued by BKPM; or• Investment licenses issued by other authorized agency
These three types of license must be issued after 5 May 2015
Taxpayers who have applied for import duty facility or corporate income tax reduction according to Article 29 of Government Regulation No. 94 of 2010 is rejected by Ministry of Finance.
Under certain requirements among others: investment value or export orientation, manpower absorption, local content, and project location (especially outside Java island).
Notes:Certain business fields and location are based on on Attachment I and II of Government Regulation No. 18 of 2015 Jo. No. 9 of 2016
SOP to process TA facility is25 working days
Equitable and Non discriminatory treatment against country of origin
Transportation and Warehouse• Urban transportation• Cargo handling
Power Generation• Geothermal• Renewable energy
Oil and Gas Industry• Oil refineries• Liquefied Natural & Petroleum Gas• Lubricants
Manufacturing Industry• Iron and Steel• Clothing• Semi conductors• Electronic components• Computer• Communication devices• Television• Wheel• Pharmaceutical• Cosmetics• Fish and Shrimp processing
NOTE• The Government under Ministry of Finance is now finalizing the new regulation for tax allowances, tax holidays, tax deductions for small and medium enterprises (SMEs), as well as incentives for companies that carried our research and development (R&D) activities.• The government would expand the number of business sectors that would be eligible for the incentives.• There will be simpler procedures to obtain the incentives.
New Fiscal Incentive Regulation for Investment is on the Draft
Import Duty Exemption
IMPORT DUTY FACILITY
(MoF Regulation No.110/PMK.011/2005 MoF Regulation No.76/PMK.011/2012, MoF Regulation No.66/PMK.010/2015
and Chairman of BKPM Regulation No. 16/2015)
• Exemption of import duty on imported capital goods (machines) for 2 years during construction period.
• Exemption of import duty on imported goods and material for production for 2 years during initial production (or 4 years for companies using locally-produced machines min.30% from total value of machines for production).
• Equitable and Non discriminatory treatment against country of origin
Acceleration and certainty in custom clearance process
Faster & Certain• Capital goods do not require screening.• Cutting the processing time from 3-5 days to only 30 minutes.
Simple requirements • Projects under construction • Obliged in reporting quarterly investment activities (LKPM) • Recommendation from BKPM
Four customs checking status:• Red line is for new companies.Physical & document checks before transported from ports.• Yellow line Document check before goods transported from ports.• Green line Document check after goods transported from ports.• Main Partner Priority for companies with proven track record. No checking required.
New Facility: Status upgrade From RED to GREEN line for new companies under construction
GREEN LINE ACCELERATION FACILITY
IndonesiaInvestment Coordinating Board23
About the Investment Promotion AgencyIndonesia Investment Coordinating Board (BKPM)
Primary interface between business and the government to boost FDI and DDI through the creation of conducive investment climate.
Who We Are
Our Services
• ADVISOR
• CONSULTANT
• PARTNER
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Badan Koordinasi Penanaman Modal
(BKPM)Indonesia Investment Coordinating Board
Jln. Jend. Gatot Subroto No. 44Jakarta 12190 - Indonesia
t . +62 21 525 2008
f . +62 21 525 4945
www.bkpm.go.id
Arigato GozaimasuThank You
Terima Kasih
IIPC Office in TokyoIndonesia Investment Promotion
Center
Fukoku Seimei Building 16F 2-2-2Uchisaiwai-cho Chiyoda-ku Tokyo 100-0011,
Japant. +81 3 3500 3878
f. +81 3 3500 3879
e. [email protected] | [email protected]
Director: Rakhmat Yuliantoe. [email protected]
The Investment Coordinating Board of the Republic of Indonesia
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Business fields related to NTFP Sectors
*) Klasifikasi Baku Lapangan Usaha Indonesia/ Indonesian Standard Industrial Classification
No Business Fields KBLI/ ISIC Ownership Tax Holiday Tax Allowance Import Duty
1Forest Business: Rattan, oleopine resin, bamboo, shorea javanica, agarwood, shellac, sago, latex, honeybee
0213 With condition: Partnership
v
2 Crops and Plantation: Peppercorn, clove, essential oil, medicinal, other spice 0128 95% v
3
Primary Forest Product Processing Industry: Rubber latex, rattan, shorea javanica, agarwood, shellac, sago, honeybee
02301, 02302, 02304, 02305, 02306, 02307,
02309100% v
4 Furniture Industry: Bamboo, rattan, and other NTFP materials 31002, 31009 100% v v
The Investment Coordinating Board of the Republic of Indonesia
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Business fields related to ESNT SectorsNo Business Fields KBLI/ ISIC Ownership Tax Holiday Tax Allowance Import Duty
1 Natural Tourism Object Business Outside Conservation Areas 91034 67% v
2Natural Tourism Object Business: Natural tourist park, highway forest park, hunting park
91032, 91033, 91037 100% v
3 Nature tourism business: natural baths 93221 100% v
4Nature tourism business: Natural adventure tourism, cave tourism, and hunting block business,
93222, 93223. 93229 49% v
5
Nature tourism business in the form of provision of ecotourism facilities, activities and services within forest areas including water tourism
93241, 93242, 93243, 93249 49% v
*) Klasifikasi Baku Lapangan Usaha Indonesia/ Indonesian Standard Industrial Classification
The Investment Coordinating Board of the Republic of Indonesia27
New Tax Holiday Policy:17 Pioneer Industries
The Investment Coordinating Board of the Republic of Indonesia
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Licensing Simplification (1/3)
The Investment Coordinating Board of the Republic of Indonesia
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Licensing Simplification (2/3)
The Investment Coordinating Board of the Republic of Indonesia
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Licensing Simplification (3/3)