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Ada Pertanyaan? Hubungi Kami Marcell Sihombing, Fitri N. Heriani
Siminar Organized by Hukumonline on Negative Investmetn List. Photo by: RES.
The Employer’s Association of Indonesia (Apindo) has lauded the government’s plan to revise the country’s negative investment list (DNI), as outlined in Presidential Regulation No. 39 of 2014 on the List of Business Fields which Are Closed and Conditionally Open for Investment (2014 Regulation).
Yos Adiguna Ginting, Chair of Apindo’s International Trade Division, has asserted that the thinking behind the DNI revision is undoubtedly aimed at creating a better business climate in Indonesia. However, Mr. Ginting is also urging caution and has reminded the public that the most important aspect of the revision will lie in its details, as well as the implementation of the DNI regulation itself.
“The most important elements of the revision will be the details of its formulation and enforcement,” Mr. Ginting emphasized to hukumonline.
The implementation and enforcement aspects of the revision should be able to successfully synchronize the revised DNI with other relevant regulations, be they at the national or regional levels. In order to make a positive contribution as regards this issue, Apindo has undertaken a review in order to formulate input relating the DNI revision, which will subsequently be forwarded to the government. Moreover, Apindo has already held a number of meetings with various inter-sectoral associations in order to pool input relating to the 2014 Regulation. This is despite the fact that Apindo cannot yet undertake any in-depth review, as the official manuscript of the draft presidential regulation has yet to be released by the government.
Nevertheless, Apindo has already successfully identified two important issues through its review process which it believes merit further discussion. The first issue relates to ratings-based accommodation businesses which, according to news circulating during the launch of the president’s Tenth Economic Policy Package, are to be opened up to foreign ownership of up to 100%. Further details on this initiative have yet to emerge, however the ratings-based accommodation business association has suggested that the government should put certain restrictions in place, such as only allowing 100% foreign ownership of hotels which have a three-star classification or higher.
“It [allowing 100% foreign ownership for ratings-based accommodation businesses] has become quite a hot topic of late and many are questioning why such ownership will be completely opened up to foreign parties. Logically speaking, it would be acceptable to open ownership up in this way to three-star hotels or higher, i.e. the market sector in which international companies operate. However, this policy might not yet be suitable for lower ranking hotels [e.g. one- or two-star hotels],” asserted Mr. Ginting.
A second issue relates to Apindo’s demand to create more openings within the raw-materials and capital-goods industries which, it is hoped, will accelerate the growth of downstream businesses in Indonesia.
“Let us not forget that our country still heavily relies on the import of raw materials. However, we are largely capable of providing such materials ourselves, and this would undoubtedly improve our competitiveness. Therefore, the raw-materials sector should also be opened up [to foreign ownership],” explained Mr. Ginting.
Hikmahanto Juwana, a professor at the University of Indonesia’s Faculty of Law, is of the same opinion as Mr. Ginting and asserts that several regulations will need to be synchronized, due to the fact that many government institutions have connections to the DNI.
“The [revised DNI] manuscript has not yet been released, so an in-depth review cannot yet be undertaken. However, it is true that several regulations will need to be synchronized. Moreover, a so-called gap analysis will also need to be conducted in order to ensure that all of the relevant technical implementing regulations are in sync with the [revised] DNI,” Professor Juwana concluded.
Yos Adiguna Ginting, Chair of Apindo’s International Trade Division, has asserted that the thinking behind the DNI revision is undoubtedly aimed at creating a better business climate in Indonesia. However, Mr. Ginting is also urging caution and has reminded the public that the most important aspect of the revision will lie in its details, as well as the implementation of the DNI regulation itself.
“The most important elements of the revision will be the details of its formulation and enforcement,” Mr. Ginting emphasized to hukumonline.
The implementation and enforcement aspects of the revision should be able to successfully synchronize the revised DNI with other relevant regulations, be they at the national or regional levels. In order to make a positive contribution as regards this issue, Apindo has undertaken a review in order to formulate input relating the DNI revision, which will subsequently be forwarded to the government. Moreover, Apindo has already held a number of meetings with various inter-sectoral associations in order to pool input relating to the 2014 Regulation. This is despite the fact that Apindo cannot yet undertake any in-depth review, as the official manuscript of the draft presidential regulation has yet to be released by the government.
Nevertheless, Apindo has already successfully identified two important issues through its review process which it believes merit further discussion. The first issue relates to ratings-based accommodation businesses which, according to news circulating during the launch of the president’s Tenth Economic Policy Package, are to be opened up to foreign ownership of up to 100%. Further details on this initiative have yet to emerge, however the ratings-based accommodation business association has suggested that the government should put certain restrictions in place, such as only allowing 100% foreign ownership of hotels which have a three-star classification or higher.
“It [allowing 100% foreign ownership for ratings-based accommodation businesses] has become quite a hot topic of late and many are questioning why such ownership will be completely opened up to foreign parties. Logically speaking, it would be acceptable to open ownership up in this way to three-star hotels or higher, i.e. the market sector in which international companies operate. However, this policy might not yet be suitable for lower ranking hotels [e.g. one- or two-star hotels],” asserted Mr. Ginting.
A second issue relates to Apindo’s demand to create more openings within the raw-materials and capital-goods industries which, it is hoped, will accelerate the growth of downstream businesses in Indonesia.
“Let us not forget that our country still heavily relies on the import of raw materials. However, we are largely capable of providing such materials ourselves, and this would undoubtedly improve our competitiveness. Therefore, the raw-materials sector should also be opened up [to foreign ownership],” explained Mr. Ginting.
Hikmahanto Juwana, a professor at the University of Indonesia’s Faculty of Law, is of the same opinion as Mr. Ginting and asserts that several regulations will need to be synchronized, due to the fact that many government institutions have connections to the DNI.
“The [revised DNI] manuscript has not yet been released, so an in-depth review cannot yet be undertaken. However, it is true that several regulations will need to be synchronized. Moreover, a so-called gap analysis will also need to be conducted in order to ensure that all of the relevant technical implementing regulations are in sync with the [revised] DNI,” Professor Juwana concluded.
(rfs/sp)
Marcell Sihombing, Fitri N. Heriani
Siminar Organized by Hukumonline on Negative Investmetn List. Photo by: RES.
The Employer’s Association of Indonesia (Apindo) has lauded the government’s plan to revise the country’s negative investment list (DNI), as outlined in Presidential Regulation No. 39 of 2014 on the List of Business Fields which Are Closed and Conditionally Open for Investment (2014 Regulation).
Yos Adiguna Ginting, Chair of Apindo’s International Trade Division, has asserted that the thinking behind the DNI revision is undoubtedly aimed at creating a better business climate in Indonesia. However, Mr. Ginting is also urging caution and has reminded the public that the most important aspect of the revision will lie in its details, as well as the implementation of the DNI regulation itself.
“The most important elements of the revision will be the details of its formulation and enforcement,” Mr. Ginting emphasized to hukumonline.
The implementation and enforcement aspects of the revision should be able to successfully synchronize the revised DNI with other relevant regulations, be they at the national or regional levels. In order to make a positive contribution as regards this issue, Apindo has undertaken a review in order to formulate input relating the DNI revision, which will subsequently be forwarded to the government. Moreover, Apindo has already held a number of meetings with various inter-sectoral associations in order to pool input relating to the 2014 Regulation. This is despite the fact that Apindo cannot yet undertake any in-depth review, as the official manuscript of the draft presidential regulation has yet to be released by the government.
Nevertheless, Apindo has already successfully identified two important issues through its review process which it believes merit further discussion. The first issue relates to ratings-based accommodation businesses which, according to news circulating during the launch of the president’s Tenth Economic Policy Package, are to be opened up to foreign ownership of up to 100%. Further details on this initiative have yet to emerge, however the ratings-based accommodation business association has suggested that the government should put certain restrictions in place, such as only allowing 100% foreign ownership of hotels which have a three-star classification or higher.
“It [allowing 100% foreign ownership for ratings-based accommodation businesses] has become quite a hot topic of late and many are questioning why such ownership will be completely opened up to foreign parties. Logically speaking, it would be acceptable to open ownership up in this way to three-star hotels or higher, i.e. the market sector in which international companies operate. However, this policy might not yet be suitable for lower ranking hotels [e.g. one- or two-star hotels],” asserted Mr. Ginting.
A second issue relates to Apindo’s demand to create more openings within the raw-materials and capital-goods industries which, it is hoped, will accelerate the growth of downstream businesses in Indonesia.
“Let us not forget that our country still heavily relies on the import of raw materials. However, we are largely capable of providing such materials ourselves, and this would undoubtedly improve our competitiveness. Therefore, the raw-materials sector should also be opened up [to foreign ownership],” explained Mr. Ginting.
Hikmahanto Juwana, a professor at the University of Indonesia’s Faculty of Law, is of the same opinion as Mr. Ginting and asserts that several regulations will need to be synchronized, due to the fact that many government institutions have connections to the DNI.
“The [revised DNI] manuscript has not yet been released, so an in-depth review cannot yet be undertaken. However, it is true that several regulations will need to be synchronized. Moreover, a so-called gap analysis will also need to be conducted in order to ensure that all of the relevant technical implementing regulations are in sync with the [revised] DNI,” Professor Juwana concluded.
Yos Adiguna Ginting, Chair of Apindo’s International Trade Division, has asserted that the thinking behind the DNI revision is undoubtedly aimed at creating a better business climate in Indonesia. However, Mr. Ginting is also urging caution and has reminded the public that the most important aspect of the revision will lie in its details, as well as the implementation of the DNI regulation itself.
“The most important elements of the revision will be the details of its formulation and enforcement,” Mr. Ginting emphasized to hukumonline.
The implementation and enforcement aspects of the revision should be able to successfully synchronize the revised DNI with other relevant regulations, be they at the national or regional levels. In order to make a positive contribution as regards this issue, Apindo has undertaken a review in order to formulate input relating the DNI revision, which will subsequently be forwarded to the government. Moreover, Apindo has already held a number of meetings with various inter-sectoral associations in order to pool input relating to the 2014 Regulation. This is despite the fact that Apindo cannot yet undertake any in-depth review, as the official manuscript of the draft presidential regulation has yet to be released by the government.
Nevertheless, Apindo has already successfully identified two important issues through its review process which it believes merit further discussion. The first issue relates to ratings-based accommodation businesses which, according to news circulating during the launch of the president’s Tenth Economic Policy Package, are to be opened up to foreign ownership of up to 100%. Further details on this initiative have yet to emerge, however the ratings-based accommodation business association has suggested that the government should put certain restrictions in place, such as only allowing 100% foreign ownership of hotels which have a three-star classification or higher.
“It [allowing 100% foreign ownership for ratings-based accommodation businesses] has become quite a hot topic of late and many are questioning why such ownership will be completely opened up to foreign parties. Logically speaking, it would be acceptable to open ownership up in this way to three-star hotels or higher, i.e. the market sector in which international companies operate. However, this policy might not yet be suitable for lower ranking hotels [e.g. one- or two-star hotels],” asserted Mr. Ginting.
A second issue relates to Apindo’s demand to create more openings within the raw-materials and capital-goods industries which, it is hoped, will accelerate the growth of downstream businesses in Indonesia.
“Let us not forget that our country still heavily relies on the import of raw materials. However, we are largely capable of providing such materials ourselves, and this would undoubtedly improve our competitiveness. Therefore, the raw-materials sector should also be opened up [to foreign ownership],” explained Mr. Ginting.
Hikmahanto Juwana, a professor at the University of Indonesia’s Faculty of Law, is of the same opinion as Mr. Ginting and asserts that several regulations will need to be synchronized, due to the fact that many government institutions have connections to the DNI.
“The [revised DNI] manuscript has not yet been released, so an in-depth review cannot yet be undertaken. However, it is true that several regulations will need to be synchronized. Moreover, a so-called gap analysis will also need to be conducted in order to ensure that all of the relevant technical implementing regulations are in sync with the [revised] DNI,” Professor Juwana concluded.
(rfs/sp)