IN A bid to support growth in Southeast Asia's biggest economy, the Indonesian government will be releasing another economic policy package soon.
The upcoming economic policies will include a revision of the negative investment list, Finance Minister M. Chatib Basri said in a meeting with business leaders on Saturday - part of the Asia Pacific Economic Cooperation CEO Summit meetings.
Without further providing further details, Chatib said the new list would be less restrictive and more investment-friendly.
Among opportunities closed to foreigners are investments in telecommunications towers, vessel traffic information systems, and timber and forest plant seeds, according to a presidential regulation issued in 2010.
The upcoming economic policy revision is among a series of efforts by the government to attract foreign direct investments, reduce capital outflows, push exports and reduce imports.
Falling exports have slowed expansion in the Indonesian economy, with Bank Indonesia having cut its forecast on the growth to 5.6 per cent this year.
Indonesia's current-account deficit - the broadest measure of trade - stood at US$9.8 billion (RM31.2 billion) in the second quarter of the year, or 4.4 per cent of the country's gross domestic product.
Exports have slowed as demand from big nations, including China and India, have weakened.
Amid the global market turbulence, Chatib said, "don't waste the crisis by not making reform".
He said the uncertainty would push the government to come up with policy reforms.
Thomas Donohue, president of the United States Chamber of Commerce, said here last week that based on its survey, US firms want to invest as much as US$61 billion in Indonesia. But their biggest concerns now are transparency and legal uncertainty.
Suryo Bambang Sulistyo, chairman of the Indonesian Chamber of Commerce and Industry, also voiced his concerns over poor infrastructure and human resources development in Indonesia.
Chatib gave his assurance that human resources, and research and development would be included in the reforming of the country's economy.
He said the government would allow a tax deduction for companies that opened their research and development department in Indonesia, such as cosmetics maker L'Oreal and carmaker Daihatsu Motor.
"L'Oreal is building its largest factory in Indonesia and it has agreed to open a research and development department. Daihatsu is also opening a research and development centre in Karawang," Chatib said.