The Indonesian government will allow foreign investors to own stakes in local e-commerce company to a maximum of 33 percent, which is previously close to foreign investors. Chairman of Investment Coordinating Board (BKPM) Franky Sibarani said in a statement on Friday, the agency has received a suggestion to cap the investment at a minimum of $15 million to make sure the investment will be directed to the middle-upper scale.

Indonesia scraps e-commerce from negative list but caps foreign ownership at 33%

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Indonesia scraps e-commerce from negative list but caps foreign ownership at 33%

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Read more from Indonesia

Indonesia to brief MSCI this week on capital market reforms

OJK takes action against brokerage UOB Kay Hian amid wider market probe