Jokowi has approved alcohol investment in Bali, NTT, North Sulawesi & Papua
President Joko Widodo (Jokowi) is pushing for the Investment Business Sector Presidential Regulation (Perpres) №10 of 2021. Investment in alcoholic beverages is also regulated in this region.
As referred to in Presidential Decree №10 of 2021, Saturday (27/2/2021), all types of investment activities involving both domestic and foreign investors in the territory of the Republic of Indonesia are subject to investment. Individuals or companies may be investors.
Furthermore, according to Annex III of the Regulation, by taking into account local culture and wisdom, new investment can be made in four provinces, namely the provinces of Bali, East Nusa Tenggara, North Sulawesi and Papua.
If the investment is made outside the area, the Head of the Investment Coordinating Board (BKPM) must approve it based on the governor’s recommendation. For the wine-alcoholic beverage industry, the same licenses and conditions still apply.
With this license, international, domestic, cooperative, and micro, small, and medium enterprises (MSMEs) investors can invest in the alcoholic beverage industry.
International investment, meanwhile, will flow at a value of over IDR 10 billion, excluding land and buildings. However, forming a limited liability company (PT) based on Indonesian law and based in the country is required.
