Indonesia Canada Chamber of Commerce is an organization dedicated to serving the Indonesian-Canadian business community by:
Providing information and analysis on business trends in Indonesia; Hosting events providing opportunities to learn about and discuss business in Indonesia and in Canada; Representing the general interests of Canadian business to the Indonesian government; Organizing social networking events to bring our members closer together. Many of our members are Canadians doing business in Indonesia, but we also have members from around the world, including many from our host country, Indonesia. One of our most important aims is to be a “bridge”, either between representatives of various business interests or between business and government.
ICCC was formed through the merging of two existing independent organizations. The Canadian Business Association which largely represented Canadian business people in Indonesia, while the Indonesia Canada Business Council which largely consisted of Indonesian business people interested in closer business ties with Canada. Feeling that much effort was duplicated, it was agreed that one strong organization was preferable to two smaller ones, and both organizations decided to merge. Subsequently we have expanded operations where now we also represent Canadian business interests in the International Business Chamber. This group actively lobbies the Indonesian government to ensure that the views of international businesses are heard when new legislation or regulations are being discussed.
Indonesia took a significant step forward in removing restrictions on foreign investment with the issuance earlier this year of its New Investment List, under Presidential Regulation No. 10 of 2021, as amended by Presidential Regulation No. 49 of 2021, an implementing regulation for the Omnibus Law.
The New Investment List is an important tool in the government's push to open the economy to foreign direct investment. It replaces the more restrictive Negative Investment List under Presidential Regulation No. 44 of 2016.
With this move toward liberalization, businesses need to understand the changes and opportunities introduced by the New Investment List and how they can benefit from this opening to FDI.
· 2016 Negative Investment List vs. New Investment List
· Priority lines of business – capitalizing on available fiscal and non-fiscal facilities
· Key business lines still subject to foreign ownership limitations or special permits
· Investors take note – investment restrictions at the ministerial level
· Implementing the New Investment List – risk-based licensing, the Online Single Submission system, capital requirements
· FDI trends and developments under the New Investment List