Indonesia Contemplates Allowing More Foreign Investments To Stimulate Tourism

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Indonesia Contemplates Allowing More Foreign Investments To Stimulate Tourism

The Indonesian Government is considering changing current regulations to allow more foreign investments in its hotel and restaurant sectors of the economy, as indicated by the head of the Investment Coordinating Board (BKPM), Franky Sibarani.

While current regulation only allows foreign investments within 3, 4 or 5 star hotels and hotels with 1 or 2 star ratings only permit a 51% foreign shareholding, Sibarani said that the change to allow 100% shareholdings by foreigners could improve service standards in the tourism sector and address local investors’ inability to capitalize their participation in tourism projects.

 

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