New businesses closed for FDI
25 May 2021
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 to the list of industries that are closed off for foreign investment.
E-commerce involving goods such as (1) food and beverages, tobacco, chemicals, pharmacy, cosmetics, and laboratory equipment; (2) textile, clothes, footwear and personal equipment; (3) household and kitchen equipment is now also closed to foreign investment as these items are now allocated to cooperatives and Micro, Small and Medium enterprise. Previously, under PR 10/2021, these activities were not listed, which meant they were, in principle, open to foreign investment.
Courier activities, previously unlisted, now limited to 49% foreign shareholding. However, postal activities, previously limited to maximum 49% foreign shareholding, is now removed from the list.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of textiles, wearing apparel, leather and related products, Manufacture of chemicals and chemical products, Manufacture of basic pharmaceutical products and pharmaceutical preparations)
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Services (Wholesale and retail trade)
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Sources:
