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Jakarta Post

Govt launches 'priority list' to jack up investment in key industries

The Jakarta Post Image
The government aims for the jobs law and its implementing regulations to improve Indonesia’s business climate by revising 79 prevailing laws. (Shutterstock/buffaloboy)
Dzulfiqar Fathur Rahman (The Jakarta Post)
Jakarta   ●   Tue, February 23, 2021

The government has issued a regulation containing a so-called priority list that promises potential investors fiscal and nonfiscal incentives and scraps some restrictions on foreign investment to spur inflow of investment to the recession-hit country.

Presidential Regulation No. 10/2021, which implements elements of the recently passed Job Creation Law, stipulates that the priority investment list covers high-tech, pioneering, export-oriented, research-oriented, capital-intensive and labor-intensive industries, as well as national strategic projects. The new rules will come into effect 30 days from Feb. 2.

The regulation also officially scraps the government’s negative investment list (DNI) and allows both foreign and domestic investment in all business sectors, with the exception of six prohibited sectors – including narcotics and gambling – and ...

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