Foreigners will be allowed to buy property in Indonesia
Indonesia continues to woo more foreign direct investment by allowing foreigners to buy apartments and commercial property, hopefully by the third quarter of 2010.
Until now, foreigners looking to buy property may only do so through a nominee or via a local Indonesian firm, which offers less security than buyng direct. Gita Wirjawan, head of Indonesia’s investment agency, is optimistic this will change soon.
The Indonesian government also hopes to introduce further reforms in the coming year designed to attract more overseas attention, such as changes to land and labor laws.
article & source: Reuters via Straits Times
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