President of Indonesia Prabowo Subianto: Foreign Investment in Media Remains Restricted - Harian Dialog
Jakarta - President Prabowo Subianto has confirmed that provisions for foreign investment in the broadcasting and publishing sectors will continue to refer to national laws. This statement responds to concerns from media industry players regarding clauses in the Agreement on Reciprocal Trade (ART), or the reciprocal trade agreement between Indonesia and the United States, which are seen as potentially opening up widespread foreign ownership in those sectors.
Under current regulations, restrictions are clearly stipulated. The Indonesian Broadcasting Law limits foreign capital ownership in private broadcasting institutions to a maximum of 20 percent. Meanwhile, the Indonesian Press Law states that additional foreign capital in press companies must be made 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 regulations in Indonesia 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 General Chairman of the Gerindra Party said 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.
In addition, the ART document between Indonesia and the United States has not yet been ratified by the House of Representatives (DPR). Thus, the agreed points may 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 stated.
Prabowo claimed that he and US President Donald Trump agreed to make adjustments if any agreement contradicts the interests of each party. He mentioned 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 regarding 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 potentially opens up foreign ownership up to 100 percent in broadcasting and press companies. However, the ownership restrictions so far have served as an instrument to maintain editorial independence and domestic information sovereignty.
In response to this, the General Chairman of the Alliance of Independent Journalists (AJI), Nany Afrida, said the agreement poses a serious threat to the national press. “With the opening of foreign capital that can reach 100 percent for media, TV, and radio, Indonesian media will compete freely with media that obtain foreign capital (majority),” said Nany in a press statement on 27 February 2026.