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Business trends

Indonesia looks to ease foreign investment rules on startups

Jokowi aims to foster unicorns through supplement to omnibus law

Indonesia's digital economy is growing quickly and, at $44 billion, is the largest in Southeast Asia.   © Reuters

JAKARTA -- Indonesia is looking to ease rules on foreign investment in some of its startups by exempting them from minimum investment requirements, as the country aims to continue spearheading the growth of the digital economy in Southeast Asia.

The plan is being floated in a draft presidential regulation as a supplement to the "omnibus law," sweeping legislation that makes changes to more than 70 labor, tax and other key laws. The omnibus law was passed by parliament and later enacted following an acrimonious debate last year.

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