The Indonesian Government will loosen regulations and open some sectors in a bid to attract more foreign investors.

Investment Coordinating Board (BKPM) chairman Mahendra Siregar said the government is finalising new regulations on the investment list, which will include five new sectors that will be open to foreign investors.

The increase of foreign roles in the management of airports and other public facilities is aimed at attracting private investors to infrastructure projects that are included in the government’s Public – Private Partnership (PPP) scheme, Mahendra Siregar said.

The government will also ease regulations on 10 business sectors for foreign investors, including pharmaceuticals, financial services in venture capital, telecommunication, and mobile phones.

It is hoped that the loosening will help realise the investment target of 450 trillion Rupiah (39.6 billion USD) in 2014, he added.-VNA