In the past, Indonesia’s FDI has mostly been in resource-related and consumer sectors, but recently the tech sector has been attracting large investments.
Indonesia will unveil plans for increasing how much foreign investors can own of businesses in some sectors by year-end, the head of the country’s investment board told Reuters.
Thomas Lembong, who leads the agency known as BKPM, also indicated the government is looking to ease restrictions in areas that can support Indonesia’s booming digital economy.
President Joko Widodo, who begins a second five-year term in October, has vowed a renewed push for structural reform in Southeast Asia’s largest economy, where tepid investment has contributed to keeping the growth rate at around 5% in recent years.
A new round of changes in the so-called “negative investment list”, which bars foreigners from some sectors and caps their ownership level in others, should be announced before the end of 2019, Lembong said.
(source: The Jakarta Globe)