Indonesia to allow up to 95.5% foreign stake in courier firms

The government has prepared a draft regulation allowing foreign investors to own up to 95.5 per cent of a courier company in the country.

Under the present regulation a foreign investor is allowed to have up to 95 per cent stake in a freight forwarding company but not more than 49 per cent in a courier company.

Postal Service Director Woro Indah Widiastuti said the draft regulation has been in the office of the trade minister for approval.

Earlier the association of logistic companies (Asperindo) urged the government to allow foreign investors to wholly own a logistic company to attract foreign investors, but their operation areas should be restricted.