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Foreigners can own up to 67% of Indonesian firms

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12 Feb Foreigners can own up to 67% of Indonesian firms

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SIIA Deputy Director Cheryl Tan was quoted in The Straits Times on 12 Feb 2016, commenting on new Indonesian reforms to liberalise the country’s economy, including allowing foreigners to own a majority stake of up to 67 per cent of businesses in Indonesia’s healthcare and transport sectors, and up to 49 per cent in other sectors.

Ms Cheryl Tan, deputy director of Asean at the Singapore Institute of International Affairs, said the move is a sign of Indonesian President Joko Widodo’s resolve to prove his critics wrong.

“Following the political infighting within his party that has distracted him during his first year as President, there could be an urgency to prove that he still has the power to institute real change in Indonesia, and to deliver on his promises of strong economic growth for his country,” she said.

“If successful, his ‘big bang’ plan could help him achieve this.”

The full article is available on The Straits Times.

Photo Credit: Prayudi Setiadharma / CC BY-SA 3.0