Media closed to foreign investors<\/p>\n
JAKARTA (JP): The government has issued a list of sectors
\nclosed to foreign investment, including the mass media, film and
\ncinema, land transportation, forest concessions and freshwater
\nfish breeding.<\/p>\n
When announcing the list last night, State Minister of
\nInvestment Hamzah Haz said its issuance was designed to give
\ncertainty to investors.<\/p>\n
The negative list, based on Presidential Decree No 96 dated
\nJuly 2 but released yesterday, also covered uranium mining,
\nsponge cultivation and timber cutting.<\/p>\n
The production of alcoholic liquor, the processing of
\nchlorophenol, dichloro diphenyl trichloro (DDT), dieldrin and
\nchlorodane are also closed to foreign investors.<\/p>\n
\"Foreign investors are also not allowed to produce fire
\ncrackers here,\" Hamzah noted.<\/p>\n
Trade services and trade supporting services are also on the
\nlist.<\/p>\n
Foreign retailers however are still allowed to operate in
\nlarge-scale businesses such as malls, supermarkets, department
\nstores, distribution, quality certification services, market
\nresearch and after-sales business.<\/p>\n
The decree, however, stipulates that foreign investors can
\nenter the closed sectors indirectly by purchasing companies'
\nshares on the local stock exchange.<\/p>\n
In order to make Indonesia more attractive to foreign
\ninvestors, the minister said the government has promised to give
\nthem more incentives.<\/p>\n
\"The government has issued four presidential decrees, four
\npresidential instructions and one ministerial decree which give
\nmore incentives to investors,\" Hamzah said.<\/p>\n
He promised to unveil the details of the new policies by the
\nend of this month.<\/p>\n
The minister said Indonesia was still attractive for
\ninvestment despite the country's economic crisis.<\/p>\n
He said two oil companies from England and from a Middle East
\ncountry had received government approval to build oil refineries
\nin Purworejo, Central Java, and Selayar, South Sulawesi.<\/p>\n
The minister did not identify the companies but said they
\npledged to invest about US$3 billion and $1.6 billion
\nrespectively.<\/p>\n
\"It shows that foreign investors still see Indonesia as
\npromising,\" said the minister. (prb)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/media-closed-to-foreign-investors-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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