Indonesia will allow foreign investors to own a bigger proportion in the tourism sector in the latest revision of the "negative investment list", the chief of its investment board said on Wednesday.

Franky Sibarani told reporters that foreigners may be allowed to run big travel bureaus although they may still be required to partner with local businesses.

Foreigners will not be allowed to run small travel agencies or be guides, he added.

Indonesia's government is currently in the process of revising the negative list - a list of sectors restricted to foreign funds.

Related Articles

Features

BRIEFS: Planned U.S, Japan-backed Luzon Economic Corridor buoys Philippine legal market

by Sarah Wong |

Even as China continues to exert economic influence across Southeast Asia and beyond with its Belt and Road Initiative, the United States and Japan struck a deal in April with the Philippines to jointly fund a massive infrastructure investment project spanning five regions, including the country's capital region of Metro Manila, on the nation's largest island.

Other News

Red lights blinking on Malaysia's economic dashboard

by Vidya Ranganathan |

Tumbling oil prices are putting pressure on Malaysia's commodity-driven economy, not merely by hurting its exports and currency but more so by putting an unwelcome spotlight on the huge debts that the country runs.

Other News

Indonesia 'to be more open to tourism FDI'

by Reuters |

Indonesia will allow foreign investors to own a bigger proportion in the tourism sector in the latest revision of the "negative investment list", the chief of its investment board said on Wednesday.