A presidential regulation on modern retail market, to be issued in March, will not restrict the operation of foreign retail chains, which have been criticized by some for the massive inroads they are making into the market.
Speaking Monday (12/2/07) at a seminar on foreign investment in the modern retail market, the Trade Department's market development and distribution director, Gunaryo, said speculation that the regulation would be aimed at restricting the expansion of foreign retailers is groundless.
"The regulation is aimed at creating harmonious competition between modern and traditional retail markets. Don't be mistaken. The regulation will not restrict foreign ownership," Gunaryo was quoted as saying by The Jakarta Post.