![]() Similarly to the investment laws in any other ∗ Presented in honor of Professor Emeritus Daniel S. Although there are some new provisions in the Draft Law currently under discussion at the Parliament, some of the old principles will continue to be applied. 1 Third, as a WTO member, Indonesia must ensure that there is equal, non- discriminatory treatment of foreign and domestic capital. ![]() Indonesia requires a total of Rp.716 trillion ($ 80 billion) of investment funds in order to be able to reach the economic growth rate of 5,7%. With an economic growth rate of 1 %, it is possible to create about 600.000 job opportunities. The unemployment rate in Indonesia has reached a rather significant level, namely 12 million people out of the total population of 220 million people. Second, Indonesia needs Foreign Investment for creating new job opportunities. First, Indonesia needs a Law which can accommodate better foreign capital, as the old Law was made 40 years ago, and has now become outdated. There are at least three reasons for this. At the present time, discussions are under way between the Indonesian Parliament and the Indonesian Government concerning a new investment law. 5 of 1968 concerning Domestic Capital Investment. 1 of 1967 concerning Foreign Capital Investment. ![]() THE NEW INDONESIAN INVESTMENT LAW ∗ Erman Rajagukguk ∗∗ In 1967, Indonesian opened up the opportunity for foreign investment for the first time, with the enactment of Law No.
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