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Economy

Indonesia to offer investment incentives for 'priority' sectors

Presidential decree provides benefits for industries from nickel to chips

JAKARTA -- In a bid to spur both domestic and foreign investment, Indonesia has designated 245 industries as "priority" and will offer incentives to attract capital to those sectors.

The move is part of a presidential regulation that supersedes Indonesia's "omnibus law," sweeping legislation that made changes to more than 70 labor, tax and other key laws. The omnibus legislation was passed by parliament and later enacted following an acrimonious debate last year.

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