BKPM’s Idea, Thought on Simplification of the Rules to Attract Foreign, Local Investment
reported by: Liu Setiawan
Jakarta, June 28, 2024/Indonesia Media – Official rules made by the Indonesian government and other authorities, especially for the beauty and cosmetics industries, were said to be complicated, and efforts were made for simplification (of the rules) to attract both foreign and local investment. Indonesia’s investment ministry/BKPM claimed a major breakthrough in the simplification to attract investors, including the one from Guangdong province, China. The rules of Indonesian food and drug authority (BPOM) and Halal Products Assurance (JPH) for prospective cosmetics industry. “we must comply with the rules, but there is a thought and an idea, that foreign producer like Guangdong which has recognized certification in cosmetics industry would be carried out under simulated with FDA (United States government Food & Drug Administration) or Chinese organizing body for halal product assurance,” said Ali Fauzi, from BKPM’s Directorate of Investment Promotion in East Asia, South Asia, Middle East, and Africa.
Ali Fauzi met with Guangdong Beauty and Cosmetics Association in Jakarta, and assured that cosmetics must fulfill all safety requirements to enter the Indonesian market. Imported food and drug registration is regulated under BPOM. The registration must be done by companies, agents or distributors before the products are cleared to Indonesian customs. “We are still coordinating. We hope that an agreement will be made soon. We explore with FDA and the Chinese organizing body for Halal product assurance,” said Ali Fauzi.
Meanwhile, BKPM Notary/Land Deed Official (PPAT), Mina Ng provides a barcode scanner for prospective investors or business people who wish to have consultation, question and answer sessions to find out the scope of establishing a local Indonesian Limited Liability Company (PT). Besides, the barcode scanner enables prospective investors to get information on costs and payment methods, procedures and requirements which are needed for registration and licensing as well as various aspects related to business activities to be carried out by the company. Examination of forms, power of attorney and check of the name of PT must be done by prospective investors. Forms and power of attorney checks are carried out to ensure the correctness of the data submitted Checking the PT Name is carried out to find out whether the company name you have chosen is already owned by another company or not, if not, the name can be registered by a Notary. “If you already have the company name, then you must replace it with another name,” said Mina Ng.
Required documents such as ID Card, Tax Number (color), Passport and legal entity. Indonesian Legal Entity consists of Establishment & Change of Shareholders of Indonesia company, Decree or Letter of Receipt Notification from Indonesian ministry of law and human rights, ID Card and Tax Number of Director. Foreign legal entity consists of the director’s passport, business file/company registry (English translated by sworn translator). “Since barcode scanner is provided, and in a position of my authority as PPAT to explain about the process of establishment of stage limited company or PT.,” said Mina Ng. (LS/IM)
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