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MEMPERTAHANKAN TUJUAN PERATURAN DAFTAR NEGATIF INVESTASI DALAM MENGENDALIKAN DOMINASI KEPEMILIKAN ASING (STUDI KASUS PADA INDUSTRI TELEKOMUNIKASI) Sulistyowati Sulistyowati; Paripurna Paripurna
Jurnal Dinamika Hukum Vol 14, No 2 (2014)
Publisher : Faculty of Law, Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20884/1.jdh.2014.14.2.290

Abstract

Indonesia’s Investment Law and Negative Investment List (DNI) are not applicable to capital market transactions. Interpreted literally, this means foreign investors can arbitrarily increase their share participation in a company by engaging capital market transactions. This is not acceptable since the government puts a limit on foreign shares participation in certain business sectors. This normative-empiric study discusses practices in telecommunication industry that deviate from DNI, the conse-quences, and viable solutions. We found that literal interpretation is inconsistent to the objective of the DNI. We offer alternative approach that is more applicable and suitable to the given objec-tives.Keywords    :    negative investment list, foreign ownership restriction, portfolio investment, capital market transaction.