Indonesia to cut foreign ownership curbs to add jobs, lure funds

Indonesia is set to remove energy, communications, and tourism from a list of sectors restricted to foreigners in a bid to boost investments and create jobs.
 
The list of industries limited to foreign investment has been cut to just 48, from more than 300, according to a draft of the presidential decree. The government is set to remove restrictions for sectors such as communications, information and technology, energy, tourism and creative economy, although they may still be subject to other regulations.
 
The lineup, expected to be issued next month, is a long-awaited overhaul of the so-called negative investment