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FDI: Entry and ownership rule
On 29 March 2016, the Indonesian Ministry of Transportation published regulation 33/2016 amending regulation 71/2013 on salvage and underwater services.
The amendment introduces a foreign ownership cap of 49% in joint ventures in salvage services (art. 4(3)e) and requirement to obtain a business license from the Indonesian Capital Investment Coordinatin Board (BKPM).
Interestingly, the foreign ownership cap was not included in the newest revision of the Negative Investment List (cf. Related Measures), which was published on 18 May 2016.
The list of affected trading partners is based on the FDI flows for 2015 in the area "Transportation, Storage, and Communication" by the Bank of Indonesia.
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