DNI – Legally Revised, Or Still Under Discussion?
The recent ‘revision’ of the Negative Investment List has been hailed as a boon for foreign investors, but confusion remains over its status
By Gilang Ardana
Thursday, February 25, 2016
When Darmin Nasution, the Coordinating Minister for Economic Affairs, announced an easing of Indonesia’s Negative Investment List (DNI) to help encourage foreign investment, there was widespread optimism that this was just what the economy, and investors, had been waiting for.
But since the announcement of changes in e-commerce, creative economy and other sectors, confusion has reined over whether the measures were cast in stone, or just the beginning of more discussions, depending on who you speak to, even on a government level.
In an attempt to settle the matter, AmCham Indonesia called the Indonesia Investment Coordinating Board (BKPM) and the Coordinating Ministry For Economic Affairs (including the one-stop shop and their communications bureau) to shed some more light on the matter. Both agencies said that they are not yet circulating a full official draft of the revisions of the DNI.
BKPM said that at this time the 2014 DNI is still in force, and it is still waiting for the latest revised DNI to be signed by the President, and it has no time frame for when this will happen. The BKPM also said the announcement of the latest policy package last week was just "informational."
The Coordinating Ministry For Economic Affairs said the only document it is releasing on the revised DNI is the summary, which can be found here. It also said the revision of the DNI is still ongoing and it doesn’t know when exactly the final text will be released.
“This is done, it is final and decided,” said a source close to the president’s office. “The DNI matter is settled. Just be patient.”