Indonesia launches 'priority list' to jack up investment in key industries

The government aims for the jobs law and its implementing regulations to improve Indonesia’s business climate by revising 79 prevailing laws. - Shutterstock

JAKARTA (The Jakarta Post/ANN): The government has issued a regulation containing a so-called priority list that promises potential investors fiscal and nonfiscal incentives and scraps some restrictions on foreign investment to spur inflow of investment to the recession-hit country.

Presidential Regulation No. 10/2021, which implements elements of the recently passed Job Creation Law, stipulates that the priority investment list covers high-tech, pioneering, export-oriented, research-oriented, capital-intensive and labour-intensive industries, as well as national strategic projects.