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Stalled projects to get boost

The Investment Coordinating Board (BKPM) is upping efforts to revive stalled investment projects that could give a significant boost to Southeast Asia’s largest economy.

The investment agency has identified 95 projects in 25 provinces with a total value of Rp 423.7 trillion (US$33.4 billion) that have stalled after encountering problems such as land acquisition and licensing. The sectors include electricity, petrochemical, food and beverage and tourism, among others.

BKPM chairman Franky Sibarani said the body would directly approach businesses to find out problems with the projects, as well as expand its one-stop service program nationwide to ease licensing.