Indonesia has taken an initiative to open up the university sector to 100 per cent foreign investment.
The South Asian country’s President Joko Widodo has instructed his cabinet to open up the university sector by foreign investment, Thomas Lembong, the head of the country’s investment board, said.
“We’re going to go from zero per cent to 100 per cent foreign ownership allowed overnight,” he told an economic conference on Wednesday.
However, he gave no timeframe for when the policy will take effect, reports Reuters.
The government has previously said it will ease ownership rules in several sectors that are partly, or entirely, closed to foreigners, in a bid to attract investment.