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Ada Pertanyaan? Hubungi Kami Marcell Sihombing, Fitri N. Heriani
Head of BKPM, Franky Sibarani (left). Photo by: RES.
The government is continuing in its efforts to revise the country’s negative investment list (DNI), as set out in Presidential Regulation No. 39 of 2014 on the List of Business Fields that are Closed and Conditionally Open for Investment (2014 Regulation). Indeed, as this article went to publication, the Indonesia Investment Coordinating Board (BKPM) was preparing to completely open up seven business fields within the tourism and sports sectors to foreign direct investment.
Prior to formulating the plan to completely open up the seven business fields, the BKPM first sought input from the public and from the relevant stakeholders regarding the plan to revise the 2014 Regulation. The BKPM eventually received some 454 suggestions, as well as written suggestions from various ministries and relevant technical institutions. As a result, the BKPM strongly hopes that the new and revised DNI will be finalized and announced in April of this year.
The new DNI means that seven business fields across the tourism and sports sectors should soon be open for foreign investment, allowing foreign investors the chance to enjoy 100% stock ownership in such businesses. The seven business fields in question are restaurants, bars, cafés, and another four businesses relating to the provision of sporting facilities (swimming, soccer, outdoor tennis, and sports centers).
Franky Sibarani, Head of the BKPM, stated in recent press release that the tourism sector was one of many sectors which had been discussed during a recent coordination meeting organized by the Coordinating Ministry of Economic Affairs.
“The deliberations over the tourism sector have already been concluded and it has been decided that seven business fields will become open to foreign ownership of up to 100%, while another four businesses will be open to 70% foreign ownership, and 14 businesses will become open to 67% foreign ownership,” asserted Mr. Sibarani in a press release dated Wednesday, 20 January 2016.
According to Mr. Sibarani, the seven businesses that will become open to the 100% foreign ownership prescribed above will see a relaxation of the current 2014 Regulation that generally restricts foreign ownership to either 49% or 51% (maximum). By opening up the opportunity for 100% foreign ownership, Mr. Sibarani continued, interested investors were now allowed to invest their funds immediately.
The government strongly hopes that by opening up access to Indonesia for foreign investors this widely across the seven businesses, the number of foreign investments in Indonesia will sharply increase. “It is expected that this measure will bring about positive developments as regards encouraging investment in tourism businesses, which is one of the BKPM’s prioritized sectors,” affirmed Mr. Sibarani.
Despite the fact that tourism is one of the BKPM’s prioritized sectors though, Mr. Sibarani emphasized that travel agencies and tour guides were two business sectors that would remain closed to foreign investment and which would thus only be available to investment from domestic players. “Not everything will open up, as travel agencies and tour-guide businesses will remain closed to foreign investment,” Mr. Sibarani verified.
Another four business fields have also now opened up to 70% foreign ownership. This decision was made pursuant to Indonesia’s commitment to implementing the ASEAN Framework Agreement on Services (AFAS). The businesses in question comprise of catering enterprises, golf courses, MICE (meetings, incentives, conferencing, and exhibitions) facilities, and spa/massage parlors. In each of these four businesses areas however, local-partner participation is mandatory as regards the fulfillment of the remaining 30% ownership requirement.
In addition, 14 other businesses will open up to 67% foreign ownership, including private museums, historical heritage sites managed by private parties, tour and travel bureaus, and ratings-based accommodation, such as one-star hotels, two-star hotels, and non-starred hotels. Other types of accommodation services and facilities have also made the 67% list, including sports and recreation facilities (billiards halls, bowling alleys, and fitness centers), impresario businesses (including the organization of entertainment and recreational activities), art, karaoke, and the management of tourism sites.
“Under the current regulatory framework, the abovementioned businesses are closed to foreign investment and are only open to domestic investment,” confirmed Mr. Sibarani.
(rfs/sp)
Prior to formulating the plan to completely open up the seven business fields, the BKPM first sought input from the public and from the relevant stakeholders regarding the plan to revise the 2014 Regulation. The BKPM eventually received some 454 suggestions, as well as written suggestions from various ministries and relevant technical institutions. As a result, the BKPM strongly hopes that the new and revised DNI will be finalized and announced in April of this year.
The new DNI means that seven business fields across the tourism and sports sectors should soon be open for foreign investment, allowing foreign investors the chance to enjoy 100% stock ownership in such businesses. The seven business fields in question are restaurants, bars, cafés, and another four businesses relating to the provision of sporting facilities (swimming, soccer, outdoor tennis, and sports centers).
Franky Sibarani, Head of the BKPM, stated in recent press release that the tourism sector was one of many sectors which had been discussed during a recent coordination meeting organized by the Coordinating Ministry of Economic Affairs.
“The deliberations over the tourism sector have already been concluded and it has been decided that seven business fields will become open to foreign ownership of up to 100%, while another four businesses will be open to 70% foreign ownership, and 14 businesses will become open to 67% foreign ownership,” asserted Mr. Sibarani in a press release dated Wednesday, 20 January 2016.
According to Mr. Sibarani, the seven businesses that will become open to the 100% foreign ownership prescribed above will see a relaxation of the current 2014 Regulation that generally restricts foreign ownership to either 49% or 51% (maximum). By opening up the opportunity for 100% foreign ownership, Mr. Sibarani continued, interested investors were now allowed to invest their funds immediately.
The government strongly hopes that by opening up access to Indonesia for foreign investors this widely across the seven businesses, the number of foreign investments in Indonesia will sharply increase. “It is expected that this measure will bring about positive developments as regards encouraging investment in tourism businesses, which is one of the BKPM’s prioritized sectors,” affirmed Mr. Sibarani.
Despite the fact that tourism is one of the BKPM’s prioritized sectors though, Mr. Sibarani emphasized that travel agencies and tour guides were two business sectors that would remain closed to foreign investment and which would thus only be available to investment from domestic players. “Not everything will open up, as travel agencies and tour-guide businesses will remain closed to foreign investment,” Mr. Sibarani verified.
Another four business fields have also now opened up to 70% foreign ownership. This decision was made pursuant to Indonesia’s commitment to implementing the ASEAN Framework Agreement on Services (AFAS). The businesses in question comprise of catering enterprises, golf courses, MICE (meetings, incentives, conferencing, and exhibitions) facilities, and spa/massage parlors. In each of these four businesses areas however, local-partner participation is mandatory as regards the fulfillment of the remaining 30% ownership requirement.
In addition, 14 other businesses will open up to 67% foreign ownership, including private museums, historical heritage sites managed by private parties, tour and travel bureaus, and ratings-based accommodation, such as one-star hotels, two-star hotels, and non-starred hotels. Other types of accommodation services and facilities have also made the 67% list, including sports and recreation facilities (billiards halls, bowling alleys, and fitness centers), impresario businesses (including the organization of entertainment and recreational activities), art, karaoke, and the management of tourism sites.
“Under the current regulatory framework, the abovementioned businesses are closed to foreign investment and are only open to domestic investment,” confirmed Mr. Sibarani.
(rfs/sp)
Marcell Sihombing, Fitri N. Heriani
Head of BKPM, Franky Sibarani (left). Photo by: RES.
The government is continuing in its efforts to revise the country’s negative investment list (DNI), as set out in Presidential Regulation No. 39 of 2014 on the List of Business Fields that are Closed and Conditionally Open for Investment (2014 Regulation). Indeed, as this article went to publication, the Indonesia Investment Coordinating Board (BKPM) was preparing to completely open up seven business fields within the tourism and sports sectors to foreign direct investment.
Prior to formulating the plan to completely open up the seven business fields, the BKPM first sought input from the public and from the relevant stakeholders regarding the plan to revise the 2014 Regulation. The BKPM eventually received some 454 suggestions, as well as written suggestions from various ministries and relevant technical institutions. As a result, the BKPM strongly hopes that the new and revised DNI will be finalized and announced in April of this year.
The new DNI means that seven business fields across the tourism and sports sectors should soon be open for foreign investment, allowing foreign investors the chance to enjoy 100% stock ownership in such businesses. The seven business fields in question are restaurants, bars, cafés, and another four businesses relating to the provision of sporting facilities (swimming, soccer, outdoor tennis, and sports centers).
Franky Sibarani, Head of the BKPM, stated in recent press release that the tourism sector was one of many sectors which had been discussed during a recent coordination meeting organized by the Coordinating Ministry of Economic Affairs.
“The deliberations over the tourism sector have already been concluded and it has been decided that seven business fields will become open to foreign ownership of up to 100%, while another four businesses will be open to 70% foreign ownership, and 14 businesses will become open to 67% foreign ownership,” asserted Mr. Sibarani in a press release dated Wednesday, 20 January 2016.
According to Mr. Sibarani, the seven businesses that will become open to the 100% foreign ownership prescribed above will see a relaxation of the current 2014 Regulation that generally restricts foreign ownership to either 49% or 51% (maximum). By opening up the opportunity for 100% foreign ownership, Mr. Sibarani continued, interested investors were now allowed to invest their funds immediately.
The government strongly hopes that by opening up access to Indonesia for foreign investors this widely across the seven businesses, the number of foreign investments in Indonesia will sharply increase. “It is expected that this measure will bring about positive developments as regards encouraging investment in tourism businesses, which is one of the BKPM’s prioritized sectors,” affirmed Mr. Sibarani.
Despite the fact that tourism is one of the BKPM’s prioritized sectors though, Mr. Sibarani emphasized that travel agencies and tour guides were two business sectors that would remain closed to foreign investment and which would thus only be available to investment from domestic players. “Not everything will open up, as travel agencies and tour-guide businesses will remain closed to foreign investment,” Mr. Sibarani verified.
Another four business fields have also now opened up to 70% foreign ownership. This decision was made pursuant to Indonesia’s commitment to implementing the ASEAN Framework Agreement on Services (AFAS). The businesses in question comprise of catering enterprises, golf courses, MICE (meetings, incentives, conferencing, and exhibitions) facilities, and spa/massage parlors. In each of these four businesses areas however, local-partner participation is mandatory as regards the fulfillment of the remaining 30% ownership requirement.
In addition, 14 other businesses will open up to 67% foreign ownership, including private museums, historical heritage sites managed by private parties, tour and travel bureaus, and ratings-based accommodation, such as one-star hotels, two-star hotels, and non-starred hotels. Other types of accommodation services and facilities have also made the 67% list, including sports and recreation facilities (billiards halls, bowling alleys, and fitness centers), impresario businesses (including the organization of entertainment and recreational activities), art, karaoke, and the management of tourism sites.
“Under the current regulatory framework, the abovementioned businesses are closed to foreign investment and are only open to domestic investment,” confirmed Mr. Sibarani.
(rfs/sp)
Prior to formulating the plan to completely open up the seven business fields, the BKPM first sought input from the public and from the relevant stakeholders regarding the plan to revise the 2014 Regulation. The BKPM eventually received some 454 suggestions, as well as written suggestions from various ministries and relevant technical institutions. As a result, the BKPM strongly hopes that the new and revised DNI will be finalized and announced in April of this year.
The new DNI means that seven business fields across the tourism and sports sectors should soon be open for foreign investment, allowing foreign investors the chance to enjoy 100% stock ownership in such businesses. The seven business fields in question are restaurants, bars, cafés, and another four businesses relating to the provision of sporting facilities (swimming, soccer, outdoor tennis, and sports centers).
Franky Sibarani, Head of the BKPM, stated in recent press release that the tourism sector was one of many sectors which had been discussed during a recent coordination meeting organized by the Coordinating Ministry of Economic Affairs.
“The deliberations over the tourism sector have already been concluded and it has been decided that seven business fields will become open to foreign ownership of up to 100%, while another four businesses will be open to 70% foreign ownership, and 14 businesses will become open to 67% foreign ownership,” asserted Mr. Sibarani in a press release dated Wednesday, 20 January 2016.
According to Mr. Sibarani, the seven businesses that will become open to the 100% foreign ownership prescribed above will see a relaxation of the current 2014 Regulation that generally restricts foreign ownership to either 49% or 51% (maximum). By opening up the opportunity for 100% foreign ownership, Mr. Sibarani continued, interested investors were now allowed to invest their funds immediately.
The government strongly hopes that by opening up access to Indonesia for foreign investors this widely across the seven businesses, the number of foreign investments in Indonesia will sharply increase. “It is expected that this measure will bring about positive developments as regards encouraging investment in tourism businesses, which is one of the BKPM’s prioritized sectors,” affirmed Mr. Sibarani.
Despite the fact that tourism is one of the BKPM’s prioritized sectors though, Mr. Sibarani emphasized that travel agencies and tour guides were two business sectors that would remain closed to foreign investment and which would thus only be available to investment from domestic players. “Not everything will open up, as travel agencies and tour-guide businesses will remain closed to foreign investment,” Mr. Sibarani verified.
Another four business fields have also now opened up to 70% foreign ownership. This decision was made pursuant to Indonesia’s commitment to implementing the ASEAN Framework Agreement on Services (AFAS). The businesses in question comprise of catering enterprises, golf courses, MICE (meetings, incentives, conferencing, and exhibitions) facilities, and spa/massage parlors. In each of these four businesses areas however, local-partner participation is mandatory as regards the fulfillment of the remaining 30% ownership requirement.
In addition, 14 other businesses will open up to 67% foreign ownership, including private museums, historical heritage sites managed by private parties, tour and travel bureaus, and ratings-based accommodation, such as one-star hotels, two-star hotels, and non-starred hotels. Other types of accommodation services and facilities have also made the 67% list, including sports and recreation facilities (billiards halls, bowling alleys, and fitness centers), impresario businesses (including the organization of entertainment and recreational activities), art, karaoke, and the management of tourism sites.
“Under the current regulatory framework, the abovementioned businesses are closed to foreign investment and are only open to domestic investment,” confirmed Mr. Sibarani.
(rfs/sp)