On 18 May 2016, the Indonesian Government enacted Presidential Regulation No. 44 of 2016, which sets out the new negative investments list (the “2016 Negative List”) and revokes the 2014 Negative List1. The 2016 Negative List has been issued following extensive discussions within the Indonesian Government and corporate sector. It is intended to help increase Indonesia’s regional competitiveness and encourage greater foreign direct investment, whilst maintaining protections for domestic businesses of a certain size. As such, the 2016 Negative List is largely consistent with the 10th Economic Package announced by the Indonesian Government in February 2016.
1.Presidential Regulation No. 39 of 2014 on the List of Business Lines that are Closed for Investments and Business Lines that are Open with Limitations for Investments (the “2014 Negative List”).
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