Jokowi Allows Foreign Investors to Own 100 Percent of Shares
17 November 2018 14:44 WIB
TEMPO.CO, Jakarta - The President Joko Widodo or Jokowi administration issued the 16th economic policy package. In one package, the government releases the negative investment list (DNI).
The Special Staff of the Coordinating Minister for Economic Affairs Edy Putra Irawady said on the list, the government released 54 business fields to foreign parties. That means the foreign investor can acquire capital ownership as much as 100 percent.
“With the release of DNI, it is expected the investment value will increase,” Edy said during a press conference at the Coordinating Ministry for Economic Affairs office, Central Jakarta, Friday, November 16.
The DNI is a list compiled by the government to protect domestic entrepreneurs from competing with foreign businessmen. If there is a business sector included in the DNI, it means that the government can limit the foreign capital ownership in the field.
Edy explained that the implementation of the policy was done considering the lack of foreign investment in the sector that was 100 percent relaxed. In fact, the government has previously done the relaxation by releasing DNI through Presidential Regulation (Perpres) No. 44 of 2016 concerning List of Closed Business Fields and List of Open Business Fields with Requirements in the Investment Sector.
With the new policy package, the total number of business fields that have been relaxed has reached 303, while a total of 87 business fields have been released to foreign parties.
DIAS PRASONGKO