Government Issues Negative Investment List
Thursday, 05 July, 2007 | 14:23 WIB

Tempo Interactive, Jakarta: The government has issued the President Regulations No. 76/2007 and No. 77/2007 on closed and open business with conditions.

Boediono, Coordinating Minister for the Economy, said the regulations provide businesspeople clarity about investing in Indonesia.

“There are no grey sectors anymore for businesspeople, with all clarity, certainty and transparency. The long-term goal is that investment can advance economic growth; open job opportunities and reduce the poverty (rate),” he said yesterday (4/7).

Presidential Regulation No. 76/2007 on the Criteria and Requirements for Listing Closed and Open Business Sectors by Investment Requirements comprises 10 chapters and 17 articles.

This regulation is the basis for listing Closed and Open Business Sector by Requirements, with the principles of simplicity and compliance to international agreement or commitment; and also transparency.

Presidential Regulation No.77/2007 regarding the List of Closed and Open Business Sectors by Requirements consists of seven articles with appendices of open and closed business sectors with conditions.

In order to support the implementation of the regulations, said Boediono, the government established the National Team for Export and Investment Growth (PEPI).

The team was established four years ago.

“This team is the one to carry out assessments of investment policies,” said Boediono.

Mari Elka Pangestu, Trade Minister, said she considered that there were significant changes in the negative investment list issued by the government, compared to previous ones.

According to her, there are three differences.

First, the latest negative investment list appears to be longer because the scope is more comprehensive.

“Twenty-three sectors are in the list. It’s longer because it’s more detailed in using Indonesian environment and cultural classifications. The list is more transparent, easy and clear for the investors to comprehend,” she said.

Second, said Mari, the negative investment list can be reviewed when multi-interpretations are found by PEPI National Team.

Third, the negative investment list is not retroactive.

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