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Jakarta Post

Govt launches 'priority list' to boost investment in key industries

  • Dzulfiqar Fathur Rahman

    Jakarta

PREMIUM
Jakarta   /   Wed, February 24 2021   /  01:00 am
Electric vehicle, electric car(Shutterstock/buffaloboy)

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 businesses that c...