{
    "success": true,
    "data": {
        "id": 17797,
        "msgid": "indonesia-plans-to-scrap-ecommerce-from-negative-investment-list",
        "date": "2015-10-21 00:00:00",
        "title": "Indonesia plans to scrap e-commerce from negative investment list",
        "author": "Vincencia NLS",
        "source": "Deal Street Asia",
        "tags": null,
        "topic": null,
        "summary": "The Indonesian government plans to scrap e-commerce business from its negative investment list, a move that will allow foreign investors to enter this industry, a government official says. The new rule could come into effect in early 2016. Indonesia\u2019s Negative Investment List issued in May 2014 bars or limits foreign investments in certain industries, including, e-commerce.",
        "content": "<p>The Indonesian government plans to scrap e-commerce business from its negative investment list, a move that will allow foreign<br>\ninvestors to enter this industry, a government official says. The new rule could come into effect in early 2016.<\/p>\n<p>Indonesia\u2019s Negative Investment List issued in May 2014 bars or limits foreign investments in certain industries, including,<br>\ne-commerce. The government expects the new rule to provide wider access to funding for Indonesia\u2019s startups as well as<br>\nestablished e-commerce business in the country.<\/p>\n<p>The rule imposes ownership limits with caps ranging from zero per cent to 95 per cent ownership. The government usually reviews<br>\nthe negative list every two years.<\/p>\n<p>Triawan Munaf, the Head of Indonesian Creative Economy Agency, said the government treats the three elements of e-commerce<br>\ndifferently, namely startups, small and medium size e-commerce and established e-commerce. \u201cWe are in the process of opening the<br>\nestablished e-commerce to be partially opened for foreign investment,\u201d Triawan said.<\/p>\n<p>\u201cCurrently, e-commerce is 100 percent close for foreign investment. We will open it in stages, but how far it will be opened,<br>\nlet\u2019s just wait,\u201d he noted.<\/p>\n<p>Triawan said based on the government\u2019s roadmap, Indonesia\u2019s e-commerce business could reach $130 billion in 2020.<\/p>\n<p>Echoing Triawan\u2019s statement, Chairman of the National Investment Coordinating Board (BKPM) Franky Sibarani told reporters last<br>\nFriday (Oct. 16) that said the government considers opening the e-commerce business for foreign investors.<\/p>\n<p>\u201cE-commerce is one of he sectors that are being considered to be opened for foreign investment,\u201d he said.<\/p>\n<p>Currently, foreign venture capital firms enter local e-commerce businesses by providing loans, instead of equity, such as the<br>\ncase of e-commerce giant Tokopedia which has received capital injection, not as equity, worth $100 million from foreign investor<br>\nSoftBank Corp of Japan and US-based venture capital firm Sequoia Capita.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-plans-to-scrap-ecommerce-from-negative-investment-list",
        "image": "e-commerce.jpg"
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}