Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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Investment Policy Measures
40 resultsIndonesia
17 Feb 2025Imposes restrictions on foreign exchange earnings from natural resource exports
On 17 February 2025, the Government of Indonesia issued Regulation No. 8 of 2025, mandating the retention of foreign exchange earnings from natural resource exports within the domestic financial system. Under the new regulation, exporters [...]
Indonesia
02 Jun 2023Introduces 10-year Golden Visa programme to attract foreign investment
On 2 June 2023, the Government of Indonesia introduced a "golden visa" programme that allows foreigners to stay for up to 10 years, in an effort to attract more foreign investment (Government Regulation Number 40 of 2023). Companies [...]
Indonesia
01 Jul 2021Issuing new regulation on payment systems
On 29 December 2020, Indonesia's central bank, Bank Indonesia, issued regulation No.22/23/PBI/2020. This regulation introduced new requirements with regard to share ownership and capital, which could impact foreign investors in the [...]
Indonesia
02 Jun 2021Increased Paid-up Capital Requirements for Foreign Companies
On 1 April 2021, Indonesia’s Investment Coordinating Board (Badan Koordinasi Penanaman Modal BKPM) issued BKPM Regulation 4 of 2021 regarding an increase of paid-up capital requirements that foreign investors have to pay when establishing [...]
Indonesia
25 May 2021New businesses closed for FDI
On 25 May 2021, Presidential Regulation No. 49 of 2021 has been issued amending Presidential Regulation No. 10 of 2021. This Presidential Regulation added Alcoholic Beverage Industry, Wine Industry, and Beverages Containing Malt Industry [...]
Indonesia
28 Apr 2021New Investment Ministry established
On April 28, 2021, the Government of Indonesia established a new Ministry of Investment. The Ministry of Investment is the result of upgrading the bureaucratic status of the Investment Coordinating Board (Badan Koordinasi Penanaman [...]
Indonesia
01 Apr 2021Introduced Risk Based Business Licensing
On 1 April 2021, Indonesia issued Government Regulation 5 of 2021 to introduce a risk-based approach to the issuance of business licenses. Business activities will be assessed on the scale of the hazards they can potentially create [...]
Indonesia
01 Apr 2021New regulation to ease the hiring of foreign workers
On 1 April 2021, the new implementing Government Regulation No. 34 of 2021, which aims to ease the process of hiring foreign workers in Indonesia, came into force. This Regulation introduced different categories for the Foreign Worker [...]
Indonesia
02 Feb 2021New regulation expands strata title rights for foreign citizens and legal entities
On 2 February 2021, Government Regulation No. 18 of 2021 on Right to Manage, Right over Land, Strata Titles and Land Registration (“GR 18/21”) became effective. This Government Regulation amends Government Regulation No. 103 of 2015 [...]
Indonesia
02 Nov 2020"Omnibus Law" on job creation has been enacted
On 2 November 2020, Indonesia’s President officially enacted the job creation law - commonly known as the "Omnibus Law". It aims to attract investment, create new jobs, and stimulate the economy by, among other things, simplifying [...]
Indonesia
19 May 2020New requirements for E-commerce companies
On 19 May 2020, the Indonesian Ministry of Trade (“MOT”) has issued a new regulation, MOT Regulation No. 50 of 2020 regarding Provisions on Business Licensing, Advertising, Guidance and Supervision of Businesses Trade through Electronic [...]
Indonesia
26 Dec 2019New regulation to facilitate the transformation of foreign bank branches
On 23 December 2019, Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or OJK) issued Regulation No. 41/POJK.03/2019 on the Merger, Consolidation, Acquisition, Integration and Conversion of Commercial Banks. The regulation [...]
Indonesia
12 Dec 2019New income tax incentives
On 13 December 2019, Indonesia issued Gevernment Regulation 78 of 2019, which sets out a variety of tax incentives for businesses investing in specific industries and provinces in the country.The regulation came into effect on 12 December [...]
Indonesia
29 Jul 2019New regulation clarifies guidelines and procedures for FDI
Indonesia's Investment Coordinating Board (BKPM) has issued a new regulation amending BKPM Regulation 6/2018, which sets out guidelines and procedures for licensing and facilities under Indonesia's foreign direct investment (FDI) regime. [...]
Indonesia
13 Jun 2019New regulation for construction businesses
Indonesia’s Construction Law 2 of 2017 required foreign investors to establish either a representative office in cooperation with an Indonesian construction company (representative office), or incorporate a legal entity in a joint [...]
Indonesia
20 Jan 2019New Foreign Ownership Cap for Insurance Companies
Through Government Regulation No. 3/2020, the government allowed foreign investors to own more than 80 percent of shares in locally-listed insurance companies. The rule also drops the requirement for a local partner, which, according [...]
Indonesia
10 Sep 2018Minimum equity requirement for foreign investors to use OSS system reduced from 10 billion to 2.5 billion
The minimum equity requirement for foreign investment companies to register on and use the Online Single Submission (OSS) portal, which used to be IDR 10 billion, has been reduced to IDR 2.5 billion reportedly as of 10 September 2018, [...]
Indonesia
17 Jul 2018Issuance of Government Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services
On 21 June 2018, Indonesia issued Government Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services (GR No. 24/2018). The change abolishes approval from BKPM (Badan Koordinasi Penanaman Modal, Indonesian Investment [...]
Indonesia
04 Apr 2018Issues a new regulation on tax holiday
Effective April 2018, the Government introduced a new regulation (Regulation No. 35/PMK.010/2018) on Tax Holiday, as an incentive to conduct business in Indonesia. The new regulation provides greater convenience and more flexibility [...]
Indonesia
13 Dec 2017Introduces a new capital investment regulation on licensing and facilities
On 13 December 2017, the Indonesian Investment Coordination Board (BKPM) issued a regulation (Reg. 13/2017) that sets out, among other things, new rules governing how to obtain investment approvals. It mainly simplifies the process [...]
Indonesia
30 Jan 2017Launches a speedy licensing procedure for the energy sector
On 30 January 2017, the Investment Coordinating Board (BKPM) and the Ministry of Energy and Mineral Resources launched a special service that allows the prompt issuance of temporary licenses for eight businesses in the downstream oil [...]
Indonesia
01 Jan 2017Increase of minimum local content requirement for smartphones
From 1 January 2017, the minimum local content requirement - both in hardware as well as software - for domestically-produced 4G smartphones that are sold in the Indonesian market has been increased to 30 per cent. Previously, the [...]
Indonesia
09 Nov 2016Indonesia introduces foreign ownership limit in Electronic Payment Services Firms
On 9 November 2016, Indonesia introduced Bank Indonesia Regulation No. 18/40/PBI/2016 on the Operation of Payment Transaction Processing. This regulation imposes a 20 per cent limit on foreign ownership in companies that offer electronic [...]
Indonesia
12 May 2016Indonesia introduces a new "negative list" for foreign investment.
On 12 May 2016, the President of Indonesia signed the new Negative List of Investment. It sets out which sectors are open and closed for foreign investment and which conditions apply. The new list permits or increases the allowed ceiling [...]
Indonesia
21 Mar 2016Indonesia amended minimum capital requirement for SMEs
On 21 March 2016, Indonesia’s President signed into effect a regulation (Government Regulation No. 7 of 2016 regarding Changes to Authorized Capital of Limited Liability Companies), changing the requirements for starting a business [...]
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
Share





Latest publications
