ICT Business in Indonesia was Dominated by Foreign Investors

Information and Communications Technology (ICT) business in Indonesia was allegedly still controlled by foreign investors even though the government has tried to restrict ownership through Investment Negative List (DNI).

"In my calculations, the ICT business in Indonesia reached IDR 400 trillion larger over a year. However, most foreign investors tasted it," said Indonesia Minister of Communication and Information Tifatul Sembiring, Yesterday.

He continued, Telkomsel had 131 million users. If a customer spends IDR 1 million per year, amounting to IDR 131 trillion per year. “That's just one sector of one player. ICT have great scope,” he explained.

He added, foreign investors currently have the highest capex for ICT. "Approximately 70% of capital expenditure in ICT sector was taken by foreigners. We should think how to attract these portions belong to us, that we may not only be the object but also the perpetrators," he said.

Previously, the government has officially changed the DNI in the telecommunications sector through Presidential Decree No. 39 of 2014 was signed on 23 April 2014.

[source]

ICT Business in Indonesia was Dominated by Foreign Investors, original content from iTechNews. Filed in Business, Telco, ICT, Telkomsel.