The Indonesian House of Representatives has passed a bill into law that limits foreign ownership of horticultural entities to 30 per cent.
The China Post reported that Ahmad Muqowam, the chairman of House Commission IV overseeing agriculture, plantations, fisheries, maritime affairs and food and forestry, said the new law was intended to provide more opportunities to domestic investors in the horticulture sector.
Under the new law, foreign companies with more than a 30 per cent stake in Indonesian horticultural businesses are now required to transfer the difference to domestic investors over the next four years.
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