Indonesia Issues Implementing Rules for Investment Law Reform
Yudith Ho, Bloomberg News Harvested palm oil fruit bunches sit in a truck at the Genting Tanah Merah Estate, operated by Genting Plantations Bhd., in Johore, Malaysia, on Thursday, Nov. 14, 2019. Genting owns about 20 drones, and uses the services of other providers to monitor and map about 160,000 hectares of oil palms in Indonesia and Malaysia. Photographer: Joshua Paul/Bloomberg , Bloomberg
(Bloomberg) Indonesia has released the specifics of its investment law overhaul, with changes that include lower taxes on bond earnings and new permit requirements for plantations.
The 49 implementing rules cover land management, foreign worker regulations and a new framework for deciding which sectors are open or closed to overseas investors. The omnibus law is meant to spur investments and create jobs, part of a major push by President Joko Widodo to bring the economy out o