Indonesia will ease ownership rules in sectors that are partially or fully closed to foreigners, in a bid to attract more international investors, cabinet ministers said today.
Widodo described last year’s easing of foreign ownership rules as a “Big Bang” liberalization of the economy, while one minister called it the largest opening to international investment in 10 years.
The government is reviewing ownership caps in sectors where foreigners are barred from having a majority stake, Darmin Nasution, the coordinating minister of economics, told reporters.
For the transport sector, the government is considering easing rules on airport operation services, Sumadi said. Current rules stipulate maximum foreign ownership of 49 per cent.
President Joko Widodo has repeatedly said he wants more investment to boost economic growth. But despite amendment last year of Indonesia’s “negative investment list” that specifies caps and restrictions, foreign direct investment remains sluggish.
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