Indonesia is opening up almost all its business sectors to foreign investors in the recently passed Job Creation Law to attract more investment into the country, which is struggling to recover from a COVID-19-induced economic downturn. The law states that all business sectors are open to foreign direct investment (FDI) as well as domestic direct investment (DDI), with the exception of six prohibited sectors and businesses that can be carried out by the government. The six prohibited sectors narcotics, gambling, chemical weapons, ozone-depleting substances, coral extraction and fishing activities for endangered species based on the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). It states that further rules will be detailed in a government regulation (PP). The current negative investment list (DNI), which is a derivative regulation from th…
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