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Jakarta Post

Relaxing negative investment list ‘not enough’ to boost FDI

  • Marchio Irfan Gorbiano

    The Jakarta Post

  /   Fri, July 19 2019   /  02:34 am

The government needs to pursue efforts that go beyond relaxing the negative investment list (DNI) if it wants to attract more foreign direct investment (FDI) to the country, economists and industry players have said.The list bans or limits foreign investment in certain business sectors to protect local firms against foreign competition.Bank Central Asia (BCA) chief economist David Sumual called on the government to provide a clear industrial road map before floating ideas about opening several business sectors for foreign investment. A road map was needed to provide future direction on domestic industrial development, so that the relaxation would be on target.“Our education and health sectors probably have to be opened for global investors, so that we can minimize the waste of our foreign exchange reserves,” David said on Thursday, adding that the intermediary industry also needed a ...