Foreign Investment Should not Harm Local Communities
The emergence of businesses owned by foreign nationals in Bali should be accompanied by stronger protection for MSMEs. Their presence should not cause the local people's businesses to suffer losses or even to close down.
JAKARTA, KOMPAS — The implementation of the Job Creation Law has provided many conveniences for foreigners to do business in this country, especially in Bali. Companies owned by foreigners on the Island of the Gods are engaged in a number of businesses, such as property, meditation places, lodging, commercial residences, cafes and motorbike rentals.
Head of the Center for Industry, Trade and Investment of the Institute for the Development of Economics and Finance (INDEF), Andry Satrio Nugroho, said the passing of Law Number 6 of 2023 concerning the Stipulation of Government Regulation in lieu of Law Number 2 of 2022 concerning Job Creation has enabled foreigners to open businesses easily. However, if their businesses harm local residents, additional regulations are needed at the regional level.