President Widodo Lower The Foreign Investment Minimum Level in Indonesia
President Widodo Lower The Foreign Investment Minimum Level in Indonesia
The Issue
Dear President Joko Widodo, Coordinating Minister for Maritime Affairs and Investment Bapak Luhut Pandjaitan, Minister of Investment / Chairman Indonesia Investment Coordinating Board Bapak Bahlil Lahadalia and Minister of Tourism and Creative Economy Sandiaga Uno,
Today marks the 3rd globalconference on the World’s Creative Economy, in Bali.
“Recover Together – Stronger Together” is your government’s theme as host to the G20 under your presidency.
President Joko Widodo please lower the foreign investment minimum level to boost investment, inclusiveness, cooperation and employment in the creative economy of Indonesia.
This September Minister of Tourism and Creative Economy Sandiaga Salahuddin Uno, invited G20 member countries and guest countries at the G20 Tourism Ministerial Meeting (TMM) 2022 “to invest in Indonesia’s tourism and creative economy sector, especially in 5 super priority destinations and 8 Tourism SEZs.”
Minister Sandiaga Invites G20 Countries to Invest in 5 Super Priority Destinations
Last April Minister Sandiaga visited Australia, asked the Australian Government and investors for “more intensive cooperation and investment in the field of tourism and the creative economy (parekraf)”.
The President’s Presidential Decree Number 11 of 2021 on the Task Force for Investment Acceleration on 4 May 2021 is a commitment and testimony from your government to promote competitive foreign investment and push forward regulation reform.
Most foreign investors in Indonesia are inspired by the historical reforms your government has undertaken since taking office.
However, to accelerate new foreign investment into the creative economy of Indonesia, your government needs to review and relax the current ‘minimum investment level’ to compliment foreign investment in specifically to the creative economy of Bali, and to the the 5 super priority destinations and 8 Tourism SEZs that your government has mapped out.
Bali is Indonesia’s showroom to the world and must not only rely only on tourism investment as Covid-19 highlighted to us. The creative economy needs to be strengthened.
The current minimum investment regulation requirement is one of the major stumbling blocks for foreign investment into the creative economy of Indonesia.
The minimum of IDR10,000,000,000 (ten billion Indonesian rupiah) investment minimum is just simply too high.
To stimulate the creative economy to reach your job creation targets in Bali and to the 5 super priority destinations your government is promoting for tourism and investment the minimum investment level needs to be reduced.
Foreign investment levels should be dropped to an estimated minimum of IDR100,000,000 (One hundred million Indonesian rupiah) for foreigners investing into the creative economy using the Foreign Investment Company (PMA - Perseroan Terbatas Penanaman Modal Asing) to encourage competitive investment and cooperation.
In the creative economy sector in Bali as an example, foreign investment targets startup’s, wellness, medical, marine, social and environmental impact, restaurant, cafe, bakery, real-estate, textile retail and export, grocery, surfing equipment, furniture export, coaching and property investment which are currently driving employment for Indonesian’s and tax revenue for the country in the post pandemic era.
Mr President, it is Indonesia’s time to shine, in a world like never before when collaboration is the key to success. Indonesian and foreign investment collaborations should be encouraged, that can contribute to the recovery, that is stronger, sustainable and inclusive.
905
The Issue
Dear President Joko Widodo, Coordinating Minister for Maritime Affairs and Investment Bapak Luhut Pandjaitan, Minister of Investment / Chairman Indonesia Investment Coordinating Board Bapak Bahlil Lahadalia and Minister of Tourism and Creative Economy Sandiaga Uno,
Today marks the 3rd globalconference on the World’s Creative Economy, in Bali.
“Recover Together – Stronger Together” is your government’s theme as host to the G20 under your presidency.
President Joko Widodo please lower the foreign investment minimum level to boost investment, inclusiveness, cooperation and employment in the creative economy of Indonesia.
This September Minister of Tourism and Creative Economy Sandiaga Salahuddin Uno, invited G20 member countries and guest countries at the G20 Tourism Ministerial Meeting (TMM) 2022 “to invest in Indonesia’s tourism and creative economy sector, especially in 5 super priority destinations and 8 Tourism SEZs.”
Minister Sandiaga Invites G20 Countries to Invest in 5 Super Priority Destinations
Last April Minister Sandiaga visited Australia, asked the Australian Government and investors for “more intensive cooperation and investment in the field of tourism and the creative economy (parekraf)”.
The President’s Presidential Decree Number 11 of 2021 on the Task Force for Investment Acceleration on 4 May 2021 is a commitment and testimony from your government to promote competitive foreign investment and push forward regulation reform.
Most foreign investors in Indonesia are inspired by the historical reforms your government has undertaken since taking office.
However, to accelerate new foreign investment into the creative economy of Indonesia, your government needs to review and relax the current ‘minimum investment level’ to compliment foreign investment in specifically to the creative economy of Bali, and to the the 5 super priority destinations and 8 Tourism SEZs that your government has mapped out.
Bali is Indonesia’s showroom to the world and must not only rely only on tourism investment as Covid-19 highlighted to us. The creative economy needs to be strengthened.
The current minimum investment regulation requirement is one of the major stumbling blocks for foreign investment into the creative economy of Indonesia.
The minimum of IDR10,000,000,000 (ten billion Indonesian rupiah) investment minimum is just simply too high.
To stimulate the creative economy to reach your job creation targets in Bali and to the 5 super priority destinations your government is promoting for tourism and investment the minimum investment level needs to be reduced.
Foreign investment levels should be dropped to an estimated minimum of IDR100,000,000 (One hundred million Indonesian rupiah) for foreigners investing into the creative economy using the Foreign Investment Company (PMA - Perseroan Terbatas Penanaman Modal Asing) to encourage competitive investment and cooperation.
In the creative economy sector in Bali as an example, foreign investment targets startup’s, wellness, medical, marine, social and environmental impact, restaurant, cafe, bakery, real-estate, textile retail and export, grocery, surfing equipment, furniture export, coaching and property investment which are currently driving employment for Indonesian’s and tax revenue for the country in the post pandemic era.
Mr President, it is Indonesia’s time to shine, in a world like never before when collaboration is the key to success. Indonesian and foreign investment collaborations should be encouraged, that can contribute to the recovery, that is stronger, sustainable and inclusive.
905
Petition created on 4 October 2022