Capital Investment Draft Bill Approved
Friday, 23 March, 2007 | 15:56 WIB

Tempo Interactive, Jakarta: The government as well as Industry and Trading Commission at the House of Representatives (DPR) have agreed to propose the Draft Bill on Capital Investment to the Plenary Session next week. “(We) will hear final views of each faction by Monday of next week, and on March 29, the draft will be proposed to the Plenary Session,” said the Head of Industry and Trading Commission Didik J. Rachbini, yesterday (03/22) in Jakarta.

Didik said that some Articles, such as Articles 22 and 33, that the House members’ questions in the last discussion have been solved. Article 22 is concerned about land rights permission. The Article allows land leasehold to 95 years whose renewal is done in advance. Earlier, leasehold was aimed at 60 years and 35 more years of renewal.

Article 33, stipulating matters on enforcement over corporate crimes, according to Didik, has also been accepted. “The law must not be absent from taking measures against investors who increase cost recovery or manipulate taxes,” he said.

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