Thomas Lembong, chief of the Investment Coordinating Board (BKPM), said total direct investment from both foreign and local investors will likely grow 12-14 percent annually in 2016, excluding investment in banking, oil and gas sectors. That compares with 17.8 percent growth in such investment in 2015. Last year, foreign direct investment into Indonesia was $29.3 billion, while locals invested 179.5 trillion rupiah ($13.58 billion), according to the board's data. To get more investors this year, Indonesia will review and drop more regulations that have hindered investment, said Cabinet Secretary Pramono Anung. Jakarta will also monitor and improve the efficiency of permit handling in 10 provinces where Indonesia received the most investment, Lembong added.

Source: Thanhnien News August 23, 2016 11:48 UTC