Indonesia relaxed rules for international firms in various sectors, including agriculture, healthcare facilities, restaurants and movie theaters.
This was the first revision since 2014 to the so-called Negative Investment List, which spells out the sectors to which foreign investment restrictions apply.
Thursday's announcement was not all about opening up Indonesia's industries, however. Twenty sectors, including low-tech construction, were added to the list of industries with foreign investment restrictions.
The following are changes to the Negative Investment List for major industries:
100 percent open to foreign investment
- Toll roads (previously only 95 percent open to foreign ownership).
- Restaurants, bars; previously capped at 51 percent open to foreign investment for restaurants and 49 percent for bars (if a company partners up with a local small, micro, medium business cooperative, then foreign control is capped at 51 percent).
- Film making (previously restricted for foreign investors).
- Film distribution (previously restricted for foreign investors).
- Cinemas (required to show Indonesian films at least 60 percent of their screen time and previously restricted for foreign investors).
- Cold storage (previously 33 percent open to foreign investors and limited to Sumatra, Jawa and Bali).
- Rubber industry; sheets and concentrated latex manufacturing (previously 95 percent open to foreign ownership).
- Non-toxic waste management (previously 95 percent open to foreign ownership).
Majority foreign stake
- Healthcare facilities such as medical instruments (67 percent); medical devises calibration and maintenance services (previously foreign investors could own up to 49 percent).
- Telecommunications networks and services (67 percent); telecommunication towers operators and providers (previously restricted to foreign ownership).
- Warehousing (67 percent, previously only up to 33 percent).
- Consulting services in construction (67 percent for projects valued at over Rp 10 billion, previously only 55 percent open to foreign ownership)
Sectors opened up for the first time
- Installation of high-voltage utility (49 percent )
- Land transport (49 percent)
- Healthcare facilities such as medical instruments (67 percent)
- Film industry including distribution (100 percent)