Indonesia to Open Film Industry, Cinemas to Foreign Investment

Cinemaxx expects thousands of visitors over the four days. (SP Photo/Emral)

By : Hidayat Setiaji | on 6:06 PM January 20, 2016
Category : Business, Economy

Jakarta. Indonesia will allow foreign direct investment in all parts of its film industry, a government official said on Wednesday.

The move stems from a revision of Indonesia’s “negative investment list” that specifies what businesses foreigners are barred from entering. The government is in the process of revising the list.

“We have agreed to open all businesses in the film industry, such as technical services, production, distribution, exhibition and cinema, 100 percent to everybody,” said Triawan Munaf, the head of the Creative Economy Agency.

Munaf added the government will regulate the distance between a foreign-owned cinema to a local one in a bid to protect local investors.

Reuters

 

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