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Jakarta Post

Foreign investors allowed to own 100% shares in 25 business units

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, November 21, 2018   /   11:21 am
Foreign investors allowed to own 100% shares in 25 business units Coordinating Economic Minister Darmin Nasution (JP/Anton Hermansyah)

The government will allow foreign investors to have full ownership in 25 business units, among  the 54 business units that were removed from the Negative Investment List (DNI) stipulated in the 16th economic policy package announced earlier this week.  

“So, the withdrawal of [54] business units from the negative investment list was not to invite foreign investors to take control [of the businesses],” said Coordinating Economic Minister Darmin Nasution as quoted by on Wednesday.

The policy, which was aimed at boosting foreign investment, was introduced amid the government’s efforts to narrow the current account deficit and trade deficit, which had placed the rupiah in a weak position against foreign currencies, particularly the US dollar.

Office of the Coordinating Economic Minister secretary Susiwijono said the removal of the 54 business units from the DNI was aimed at attracting foreign investors. 

He said the final DNI would be included in the revision of Presidential Regulation No. 44/2017, expected to be issued this week.

Among other business units, foreign investors will be allowed to take full ownership in communication and information sectors.    (bbn)