The Investment Coordination Board (BKPM) of Indonesia revealed that government is considering revising its Negative List (Daftar Negatif Investasi) to allow foreigners to operate foreign universities and hospitals in the country.
Under the new proposed regulation, foreign universities could own up to 67% of shares. Those located in special economic zones (SEZs) are allowed to have as much as 100% shares. In response, BKPM has received interests from mainly Australian universities.
As for hospitals, the Indonesian government plans to relax foreign investment rules as the country is still dealing with hospital shortages. Currently, the country allows 67% ownership in foreign investment in private hospitals and 70% ownership if investors came from ASEAN countries. The number is expected to go up after the implementation which will take place after Indonesia’s election in April 2019.
(Source: The Jakarta Post)