Thursday, 24 July 2008
Technical recommendation requirement for investment in plantation
The Department of Agriculture has issued the implementation regulations for Article 44 of its Ministerial Regulation No. 26/Permentan/OT.140/2/2007. The implementation regulations are embodied in Regulation of the Director General of Plantation No. 129.1/Kpts/HK.320/12/071 (“Regulation No. 129”) regarding Guidance on the Granting of the Plantation Technical Recommendation in the Framework of Investment.Article 44 of the Ministerial Regulation stipulates the requirement for a technical recommendation from the Director General of Agriculture for the issue of an investment license in plantation and in post-harvest processing of plantation products. The technical recommendation for the investment license may be applied for by foreign or domestic individuals and corporations. As denoted by the title, Regulation No. 129 stipulates the requirements for the application of the technical recommendation, and the procedure for the granting of the recommendation. The regulation comes with three attachments, respectively containing the standard form for the application, the standard form the application acceptance and the standard form for the application rejection. The Directorate General is required to issue the acceptance or rejection within seventeen working days as of its receipt of the application. The Regulation has been in force since the day of issue on 3 December 2007.
Posted by Kusnandar & Co. at 03:02