Indonesia allows more foreign ownership in toll roads


Positive measures: Construction workers are seen on a section of an elevated highway under construction in Jakarta. Indonesia wants to lure more foreign capital to offset weaker export performance and provide more jobs to drive annual economic growth from a six-year low. — Reuters

JAKARTA: Indonesian President Joko Widodo will allow greater foreign ownership in industries from toll roads to cinemas as he seeks to attract investment and create jobs after cutbacks by Ford Motor Co and Toshiba Corp.

The government would let non-Indonesians hold 100% stakes in businesses and enterprises in industries including cold storage, pharmaceutical raw material manufacturing and restaurants, Coordinating Minister for Economic Affairs Darmin Nasution said in Jakarta yesterday.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Indonesia , economy

   

Next In Business News

Amir Hamzah: SST enhancements expected to help generate RM51.7bil revenue in 2025
Atlan to contest award compensation for compulsory land acquisition
Capital A's MRO arm receives Vietnam's Civil Aviation Authority's certification
Liew: Malaysia poised to become Asean's regional hub for EV manufacturing
Paragon Globe secures development rights for 71.52 acres in Iskandar Puteri
Solarvest's 30%-owned unit to operate as merchant generator under Neda
Ringgit extends fall against greenback ahead of US inflation data
Tiong Nam declares share dividend to reward shareholders
Guocoland expect challenges to remain for domestic property sector
Kelington posts RM33mil profit in 3Q

Others Also Read