Indonesian President Joko Widodo needs long-term capital to make his ambitious 2045 vision a reality, says ex-journalist Warief Djajanto Basorie.
File photo. A new special class of visa allows the holder waiting-line-free entry and exit at Indonesian airports and ports for 10 years. remarked to Luhut Binsar Pandjaitan, Indonesia’s Coordinating Minister of Maritime and Investment Affairs, that he’d like to work in Indonesia and visit often.
Two basic qualifications apply. One, the golden visa holder must intend to invest at least US$5 million in Indonesia. Two, the investor must obtain a recommendation from a Cabinet minister with presidential approval. First is downstreaming. This is the in-country production of goods with added-value from Indonesia’s mineral and biodiverse resources. This could boost export earnings, decrease import spending and increase national income.
The second pillar is digitalisation. Almost all government paperwork now is digitalised. Filling out forms for investment, tax returns, business permits, passports, and doctor appointments at public health centres and hospitals is done on smart phones or personal computers. Jakarta, which fronts the Java Sea, is sinking due to constant building construction and excessive drilling for groundwater resulting in soil subsidence and seawater rise. Jokowi pitched the futuristic Nusantara green city at a big-league investment forum in Singapore in June.
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