Government opening up all areas of Indonesia’s film industry to foreign investment


By Coel Healy

The Indonesian film industry has been earning more and more international attention in the past few years, with local titles such as “The Raid” gaining worldwide acclaim and 2015’s “The Look of Silence” being nominated for an Academy Award for Best Documentary. We’ve also been seeing more signs that international filmmakers are interested in getting in on the action in Indonesia, such veteran Hollywood producer Mario Kassar, who recently signed on to executive produce Indonesian sci-fi action flick ‘Foxtrot Six’, which will reportedly have a budget of $10 million.

It looks like Indonesia’s film industry will soon get a much bigger boost from abroad as the government recently decided to open all areas of the industry up to foreign investment.

The government’s plan to open up the film sector came following a recent review of Indonesia’s negative investment list, paving the way for an increase in foreign investment and ownership within the industry, which until now had been capped at 49%.

“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 Creative Economy Agency Head Triawan Munaf, as quoted by Reuters

Several changes to the negative investment list have come following President Jokowi’s statement that he would revise the list before the end of January. The move to open up the film industry follows similar regulatory changes that have allowed the foreign direct investment into industries including tourism and e-commerce. The government has stated it still plans to protect SME’s from foreign competition.

With the huge range and depth of talent in the Indonesian film industry, we’re excited to see how this move could help our filmmaker reach even greater heights with even more ambitious projects.

http://jakarta.coconuts.co/2016/01/21/government-opening-all-areas-indonesias-film-industry-foreign-investment

  1. No comments yet.
(will not be published)