JAKARTA - Indonesia will unveil plans for increasing how much foreign investors can own of businesses in some sectors by year-end, the head of the country's investment board told Reuters.
A new round of changes in the so-called"negative investment list", which bars foreigners from some sectors and caps their ownership level in others, should be announced before the end of 2019, Lembong said. FDI, excluding oil and gas as well as banking, was $29.3 billion in 2018, down from $32.2 billion a year earlier, BKPM data showed.
"You know the unicorns, the startups are raising staggering sums of money. But there are other supporting industries that are similarly capital intensive that are surprisingly closed to foreign investment as of now," he said, without elaborating.
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