Government to Revise Negative Investment List

JAKARTA (TheInsiderStories) –In a move to boost foreign direct investment in the country, the government plans to revise negative investment list in the next 2-3 months. The last revision of the negative investment list was done in 2016. The planned revision is much awaited by investors given that there are still areas that are still closed, although the government has announced it would be opened.

The Head of National Investment Coordinating Board (BKPM) Thomas Lembong said the revision of the negative investment list (DNI) is being led by the Coordinating Minister for the Economic Affairs Darmin Nasution. “What is clear is we want to push the implementation of the revision of DNI that has been launched in 2015. We admit that it (DNI) is not fully implemented,” Lembong said.

Foreign investors have welcome some efforts undertaken by the Joko Widodo government over the past two years or so, including the launching of 16 economic policy packages, which include streamlining regulations. However, there still still many restrictive regulations that hamper investment.

Indonesia’s economic growth has been growing at around 5 per cent annually in recent years, which frustrated President Joko Widodo. Recently, he called on the Trade Ministry to boost the country exports.