Previously, the stipulation on limitation or restriction of foreign ownership was elaborated under Presidential Regulation No. 44 of 2016. After the amendment of Law No. 25 of 2007 on Investment, Presidential Regulation No. 10 of 2021 was enacted and provided a new set of business list for foreign investment which replaces the so-called “negative investment list”.
In this legal alert, our Partner, Narada Kumara, and Associate, Muhammad Ghiffari provided an overview of what the new presidential regulation brings towards investment activities, particularly for construction, energy, and mineral resources business fields.