Prabowo: Foreign Ownership in Media Companies is Limited
President Prabowo Subianto has confirmed that provisions for foreign investment in the broadcasting and publishing sectors will continue to adhere to national legislation. This statement responds to concerns from media industry stakeholders regarding a clause in the Agreement on Reciprocal Trade (ART), or the reciprocal trade agreement between Indonesia and the United States, which is seen as potentially opening up widespread foreign ownership in those sectors.
Under current regulations, restrictions are clearly stipulated. The Indonesian Broadcasting Act limits foreign capital ownership in private broadcasting institutions to a maximum of 20 percent. Meanwhile, the Indonesian Press Act states that additional foreign capital in press companies must be obtained through the capital market, with the clarification that foreign capital ownership must not become the majority.
Prabowo explained that the Indonesia-US trade agreement remains subject to the applicable national laws in each country. This includes Indonesian regulations governing foreign capital ownership in broadcasting and press companies.
“In the ART, there is a clause that respects the laws applicable in each country, yes,” said Prabowo during a discussion forum with several journalists and experts in Hambalang, Bogor, West Java, on Tuesday, 17 March 2026.
The Chairman General of the Gerindra Party stated that his government is working hard to ensure the ART aligns with domestic interests. He also emphasised that the agreement signed by Indonesia and the United States still respects the laws applicable in both countries.
Furthermore, the ART document between Indonesia and the United States has not yet been ratified by the House of Representatives (DPR). Thus, the agreed points can still be reviewed and renegotiated. “There is still a mechanism (DPR ratification). There are still checks and balances. So there are still legal safeguards,” he said.
Prabowo claimed that he and US President Donald Trump have agreed to make adjustments if any agreement conflicts with the interests of either party. He noted that this privilege is not held by other countries in similar agreements with the United States.
“But like this, yes, you must believe that I prioritise national interests. Period. If I assess that national interests are threatened by any agreement, yes, we can leave it,” said Prabowo.
The agreement on foreign investment in broadcasting and publishing companies is explained in Article 2.28 on Foreign Investment Restrictions in Annex III Specific Commitments, Part 2 Non-Tariff Barriers and Related Matters.
That article states that Indonesia will allow foreign investment without ownership restrictions for US investors in various sectors, including broadcasting and publishing. In addition, other sectors covered include mining, fish processing, nature-based development projects, ecosystem services, resource efficiency solutions, shipping services, land transportation, and financial services.
This provision is seen as having a direct impact on the sustainability of the media industry because it could open up foreign ownership up to 100 percent in broadcasting and press companies. However, these ownership restrictions have so far served as an instrument to maintain editorial independence and domestic information sovereignty.
In response to this, the Chairman General of the Alliance of Independent Journalists (AJI), Nany Afrida, said that the agreement poses a serious threat to the national press. “With the opening of foreign capital up to 100 percent for media, TV, and radio, Indonesian media will compete freely with media that receive foreign capital (majority),” said Nany in a press statement on 27 February 2026.