Government to Allow Foreign Investors in Seaports, Buses, and Railway

Government to Allow Foreign Investors in Seaports, Buses, and Railway :Indonesia government plans to announce relaxation of some investment rules to help attract foreign direct investment to the country, particularly crucial to offset its persistent current account deficit.

Mahendra Siregar, chairman of investment agency BKPM, said that, among other things, the new rule will allow foreign investors to own 49% stake in airport management services. The ownership cap was lower than what was previously suggested by Siregar. “Several foreign investors told us that they still need local partners with good local knowledge.”

The new rule will also allow foreign investors to own up to 95% stake in the operatorship of seaports, buses, and railways. All of these, including airport, were off-limits for foreign investors. The ease in regulation is expected to help offset the current account troubles in the short term and improve the country’s infrastructure to maintain a sustainable growth in the long run.

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Source : www.thepresidentpost.com

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