On the 24th of May, the Indonesian government declared new measures to be taken in order to liberalize foreign ownership rules on investment, Reuters has reported. According to the country’s President, Joko Widodo, this will open up Indonesia’s economy.
Among the industries in which the rules are expected to be relaxed for foreign companies are tourism, retail, transportation and the film industry. As a reference, in 2014 Indonesia adopted a Negative Investment List, which introduced the economy sectors with foreign investment restrictions.
From now on, foreign ownership will not be limited nor majority foreign stake rules applied in special economic zones, on toll roads, non-toxic waste management, healthcare facilities, warehousing and a number of other sectors.