FOREIGN CAPITAL INVESTMENTS IN THE FIELD OF OILPALM ESTATES
(Presidential Instruction No. 6/1998, dated January 21, 1998)
THE PRESIDENT OF THE REPUBLIC OF INDONESIA
Considering :
a. that within the framework of further increasing the flow of foreign capital investments in the field of oilpalm estates, it is necessary to give business opportunity and certainty as well as to create a favourable business environment;
b. that for the purpose as meant above, it is deemed necessary to issue a presidential instruction to this effect.
In view of :
1. Article 4 paragraph (1) of the Constitution of 1945.
2. Law No. 1/1967 on foreign capital investments (Statute Book of 1967 No. 1, Supplement to Statute Book No. 2818) as already amended by Law No. 11/1970 (Statute Book of 1970 No. 46, Supplement to Statute Book No. 2943);
3. Law No. 6/1968 on domestic capital investments (Statute Book of No, 33, Supplement to Statute Book No. 2853) as already amended by Law No. 12/1970 (Statute Book of 1970 No. 47, Supplement to Statute Book No. 2944).
4. Government Regulation No. 20/1974 on share ownership in companies set up under foreign capital investments (Statute Boock of 1994 No. 28, Supplement to Statute Bok No. 3552);
5. Presidential Decree No. 97/1993 on the procedure for capital investments.
INSTRUCTS :
1. Minister of Agriculture;
To carry out the following directives :
FIRSTLY :
To allow the business opportunity to foreign capital investments in the field of oil palm estates.
SECONDLY :
To settle the licensing of foreign capital investments in order to obtain approval from the President.
THIRDLY :
This presidential instruction shall come into force as from the date of stipulation.
Stipulated in Jakarta. On January 21, 1998
THE PRESIDENT OF THE REPUBLIC OF INDONESIA
sgd
