The BKPM will give access to foreign companies to own electronic commerce businesses with a minimum investment of USD 8 million (IDR 100 billion) or creating 1.000 employment opportunities, thejakartapost.com reports. Presidential Decree No. 44/2016 on the negative investment list has had a positive impact on the ecommerce sector.
The BKPM limits foreign ownership at 49% for investments below USD 7.34 million (IDR 100 billion). BKPM data show that foreign investment in web portals reached USD 5 million with 24 projects in the Q1 of 2016. In 2015, investment reached USD 19 million with 67 projects.
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