Presidential Decree No. 96/1998

THE PRESIDENT OF
THE REPUBLIC OF INDONESIA

PRESINDENTIAL DECREE
NUMBER 96/1998

CONCERNING
LIST OF BUSINESS SECTORS CLOSED FOR INVESTMENT

THE PRESIDENT OF THE REPUBLIC OF INDONESIA

Considering	:	that in the framework of anticipating global economic development and increasing flows of investment, it is necessary to review the list of Business Sectors Closed for Investment.
In view of	:	Article 4 section (1) of the Constitution of 1945; Law No. 1/1967 on Foreign Investment (State Gazette No. 1/1967, Supplement to State Gazette No. 2818), as amended by Law No. 11/1970 (State Gazette No. 46/1970, Supplement to State Gazette No. 2943); Law No. 6/1968 on Domestic Investment (State Gazette No. 33/1968, Supplement to Sate Gazette No. 2853) as amended by Law No. 12/1970 (State Gazette No. 47/1970, Supplement to State Gazette No. 2944); Government Regulation No. 20/1994 on share ownership in companies set up in the framework of foreign investment (State Gazette No. 28/1994, Supplement to State Gazette No. 3552); Presidential Decree No. 26/1980 on the Establishment of Regional Investment Coordinating Board; Presidential Decree No. 25/1991 on the position, tasks, functions and organizational structure of the Investment Coordinating Board; Presidential Decree No. 97/1993 on Investment Procedures;

DECIDES

By revoking the Presidential Decree No. 31/1995 on the list of business sectors closed for investment;

To stipulate	:	THE PRESIDENTIAL DECREE ON THE LIST OF BUSINESS SECTORS CLOSED FOR INVESTMENT
		Article 1 The list of business sectors absolutely closed for investment and business sectors closed for investment in which a part of the shares are owned by foreign citizens and/or foreign legal entities, is attached in this Presidential Decree. The list of business sectors closed for investment as meant in section (1) shall take effect in entire territory of the Republic of Indonesia.
		Article 2 Business sectors listed in the attachement to this Presidential Decree are available for indirect investment through purchasing of shares of existing companies on the Domestic Stock Exhange.
		Article Except otherwise stipulated by Law, the business sectors not mentioned in the attachement to this Presidential Decree shall be open for investment.
		Article 4 The list of business sectors closed for investment as mentioned in Article 1 section (1) shall be valid for 3 (three) years and subject to annual review if it is necessary, in accordance with the needs and requirements.
		Article 5 This Presidential Decree shall come into force as from the date of stipulation. The public awareness, this Presidential Decree shall be announced by publishing it in the State Gazette of the Republic of Indonesia. Stipulated in Jakarta on July 2, 1998 THE PRESIDENT OF THE REPUBLIC OF INDONESIA sgd. BACHARUDDIN JUSUF HABIBIE Promulgated in Jakarta on July 2, 1998 THE STATE MINISTER/STATE SECRETARY OF THE REPUBLIC OF INDONESIA sgd. AKBAR TANDJUNG Attachment of Presidential Decree No. 96/1998