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Essay / Tourism Case Study - 1701
The enactment of this law led to the disorderly opening of various sectors to foreign investors. For example, in terms of commercial presence in tourism, this law provides a list of tourism sectors closed to investment and those which are open to investment under certain conditions. Simply put, only gambling and casinos are classified as a business sector closed to investment in Indonesia. For other sectors, foreign service providers can operate and provide tourism services through equity participation ranging from 49%, 51%, 67%, 70% to 100%. Additionally, this law granted long-term land rights to foreigners, contradicting the country's constitution..