Business

Indonesia eases foreign ownership rules for retail, port sectors

By Textile Excellence
May 24, 2016

Indonesia has eased foreign ownership rules in the retail sector and port services as part of efforts to liberalise its economy, Southeast Asia's largest. President Joko Widodo signed revised investment regulations, which spell out which sectors are partially closed or entirely closed to foreign investors, last week and it took effect immediately. However, the new regulation set a 49% foreign ownership cap on small e-commerce businesses, contradicting the government's earlier statement that it will open the sector 100% to foreign money.