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The government will ban foreign ownership in MSME companies

19 February 2020 09:01

JAKARTA. The Indonesian government will ban foreign ownership in Micro, Small and Medium Enterprises (MSME) companies with a turnover of under Rp 10 billion, through a Presidential Regulation (Perpres).

Airlangga Hartarto, Coordinating Minister for Economic Affairs, said the regulation was intended to protect domestic business competition. Thus, said Hartarto, MSME companies do not have to face competition with foreigners.

"This is the partisanship of the government, by not opening [chance for foreign investment in the MSME sector]," Hartarto explained as reported by Kontan on Tuesday (18/2) yesterday.

Hartarto added that the regulation would be included in the Presidential Regulation regarding Positive Investment List (DPI). This list contains several government priorities, regarding the provision of incentives for a number of business sectors. (KR/AR)

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