Indonesian House of Representatives has ratified a draft of laws in farms sector. With this endorsement, the ownership of foreign capital will be arranged through Government Regulation. The Indonesian government said that this policy about foreign capital ownership arrangements made to give priority to domestic investment.
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| image source: agrofarm.co.id |
Foreign investment shall be restricted based on the type of crop plantations, business scale, and the condition of a particular region. This restriction by law must also be done consistently. In the implementation, must be set forth in the Government Regulation.
Based on input from one of the factions, there are restrictions on foreign investment proposals up to 30 percent. However, the formulation of these figures will be next stipulated in Government Regulation. Therefore, after this draft is enacted, the government should immediately socialize and make derivative regulations that consist of three PP and ten ministers mandated regulations.
The bill is expected to answer the various problems in the plantation or farming sector and become the rule in the field of comprehensive estate equally and proportionally related to the plantation sector. Related parties of the plantation sector means, including the government, businesses, communities, and the planters were able to encourage sustainable agriculture by giving priority to communities around the garden to get the economic usefulness.
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