Modern Markets Regulation Awaits DNI Revisions
Monday, 05 November, 2007 | 13:28 WIB

Tempo Interactive, Jakarta: The government has confirmed that the Presidential Regulation on Modern Markets will be issued after the Presidential Regulation on the Revised Closed and Open Business List on condition that the Negative Investment List (DNI) is completed.

In the DNI, said Ardiansyah Parman, Director General of Domestic Trade at the Trade Department, there will be a definition of each modern market type based on the business scale and this will become the reference for modern market policy.

“It’s not lowering the foreign portion, but the definitions must be clearly defined. For example, how much wider large-scale retail is. It’s more because of foreign investment provisions, so it must be made clearer,” he said last weekend in Jakarta.

The DNI, signed by the president on July 3, explains that the large-scale retail sector is open to foreign investors.

Yet, the definition of large-scale is not yet stated in the DNI because there has not yet been a capital standard set for modern markets.

“So the DNI must be perfected,” said Ardiansyah.

On a separate occasion, Handaka Sentosa, General Chairman of the Indonesian Retail Entrepreneurs Association, said that retail entrepreneurs were waiting for the modern markets policy.

However, he said that the government must also help traditional markets with consultation and rehabilitation on building and a better market management.

“Traditional markets are completely the government’s responsibility,” he told Tempo.

_________________________ Indonesian Business and Investment News Aggregator