BLOOMBERG/Indonesia to Ease Investment Limits This Week, Wirjawan Says
By Jason Folkmanis
June 7 (Bloomberg) -- Indonesia President Susilo Bambang Yudhoyono will this week sign a decree easing restrictions on foreign investment, said Gita Wirjawan, chairman of the country’s investment coordinating board.
“I guarantee you it will be out this coming week,” Wirjawan said in an interview today at the World Economic Forum in Ho Chi Minh City. “I was with the president. It was on top of the deck on his table. He said he would sign it in a day or two.”
The decree will change the country’s so-called negative investment list, which limits foreign ownership in companies. Health care and education are among the industries in which increased foreign investment will be permitted, Wirjawan said. A 2007 presidential decree was “a little bit confusing” and subject to multiple interpretations, he said.
“This one takes a completely sectoral approach to the extent that foreign investors know the extent to which they can invest in any particular sector, whether it’s education, agriculture, logistics, the creative industry,” he said. “We have decided to liberalize 40 sectors.”