30 March 2021
On 2 February 2021, the President of Indonesia issued Presidential Regulation No. 10 of 2021 on Investment Business Activities (“New Investment Reg”) as one of the implementing regulations to Law No. 11 of 2020 on Job Creation (commonly known as the Omnibus Law). The New Investment Reg revokes and replaces Presidential Regulation No. 44 of 2016 on List of Closed Business Fields and Open Business Fields with Requirements in the Investment Sector, informally referred to as the “negative investment list”, and Presidential Regulation No. 76 of 2007 on Criteria and Requirements for the Formulation of Closed and Conditionally Open Business Fields in the Investment Sector. The New Investment Reg, informally referred to as the “positive investment list”, came into force on 4 March 2021.
This is an extract of an article by Soemadipradja & Taher, an Indonesian law firm with which Allen & Gledhill has a strategic alliance. To read the full article from the Soemadipradja & Taher website www.soemath.com, please click here.