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Jakarta Post

Omnibus bill liberalizes foreign investment rules

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Mon, February 17 2020   /  12:08 am

The government plans to open up almost all business sectors to foreign investment and issue a positive investment list in an omnibus bill on job creation.According to a draft of the bill obtained by The Jakarta Post, all business sectors will be open to direct investment, except those declared prohibited from such activity or those that can only be handled by the government.The prohibited areas are narcotics, gambling, chemical weapons, ozone-depleting substances, coral extraction and fishing for endangered species based on the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).The sectors that can only be handled by the government are those related to public services or defense and security, such as the primary weapons defense system, state-owned museums, as well as flight and sailing navigation systems.Further details on the investments will be esta...