7 Fundamental Principles of Negative Investment List to be Announced on Thursday

Cabinet Secretary delivered a press conference after a Plenary Cabinet Meeting (10/2)

President Joko “Jokowi” Widodo on Wednesday afternoon (10/2) at the Presidential Office, Jakarta, led a Plenary Cabinet Meeting on the Negative Investment List (DNI), the 2017 Government Work Plan (RKP), the Acceleration of Integrated National Medium-Term Development Plan (RPJMN) for 2015-2019, and Regional Spatial Plan (RTRW).

Cabinet Secretary Pramono Anung in a press statement after the Plenary Cabinet Meeting said that the Meeting has agreed that the Government will announce the DNI on Thursday (11/2) at the Presidential Office, Jakarta.

“Due to the long discussion and fundamental changing, it will be announced tomorrow at 2 p.m. at this place (press room of the Presidential Office),” Pramono said in his press statement on Wednesday (10/2) afternoon.

Referring to President’s direction, according to Pramono, the Government will adhere to 7 (seven) fundamental principles to stipulate DNI.

First, providing full protection to small and medium-sized enterprises (SMEs).

“It has been regulated in the Law related to small and medium-sized enterprises (UMKM) saying that the Government will provide full protection to the projects for the amount not exceeding Rp 10 billion,” Pramono said.

Second, cutting the oligarchic chains and cartels which have been found in some sectors.

Third, reducing the price of people’s basic needs.

Fourth, anticipating global competition.

“We are now entering the ASEAN Economic Community (MEA) and we must be ready for it,” Pramono said.

Fifth, through DNI which has been improved, new job opportunities are expected to be available more widely.

Sixth, stimulating national enterprises to have higher competence.

Seventh, it is not the matter of liberalization but modernization.

“(We will) make the management of Indonesia become more modern, more technology-savvy, have a higher competence, and have more attractive investment climate,” Pramono added while explaining that the details of DNI will be officially announced by the Coordinating Minister for the Economy on Thursday. (UN/DND/ES)(RAS/EP/YM/Naster)