Webinar – Foreign Investment and the Latest Update of Indonesia Investment Laws
We are honored that our Senior Partners, Pramudya A. Oktavinanda, and Poppy Cut Rahmasuci, were invited to speak in an international webinar held by Stellex Law Firm, titled “Virtual Conference to Introduce Indonesian Investment Law”.
Pram and Poppy discussed foreign investment and the latest update of Indonesia investment laws. Whenever one talks about foreign investment activities in Indonesia, the concept of businesses that are opened or closed for foreign investment (or famously known as the Negative Investment List) would always be the hot-button issue. And for many years, the entire stakeholders have been accustomed to the usual Negative Investment List issued in the form of a Presidential Regulation that sets out a long list of businesses complete with the corresponding maximum amount of allowable foreign ownership. While some Laws (Undang-Undang) would stipulate specific restrictions for foreign ownership in certain industries, in most cases, such restrictions will be covered by the above Presidential Regulation.
As the Government of Indonesia is aiming to bring a positive image for inviting more opportunities for foreign investors, the Negative Investment List is now promoted as the “Positive Investment List” through the issuance of Presidential Regulation No. 10 of 2021 on Investment Business Activities (PR 10/2021) on 2 February 2021 and a series of implementing regulations for the ease of doing business in Indonesia.
Other notable speaker from Taiwan, Anthony Yang (Managing Partner, Stellex Law Firm) provided valuable insights on opportunities for Taiwanese corporations under the recent updates on Omnibus Law and Investment Law. The webinar was also attended by audiences from various backgrounds, which led to a lively discussion among the speakers and participants.
Through this webinar, we hope to have raised awareness to attract more investment in Indonesia.