27 Part Two of Decree No. 21 contains provisions for foreign capital investments. Manufacturers must supply flowcharts of the production process describing the types of materials to be used. A service company must supply a description of the company's proposed business activities. Copies of any letter signifying a power of attorney where the application is not signed by the applicants themselves must accompany the application. And documents which are required by a relevant government minister must be supplied.
Presidential approval is valid for a period of three years from the date of issue.
31 Additional documents are required where the PMA is engaged in the supply of electricity or in the hotel, taxi or travel industries. 32 Regulations for the purchase of shares in an existing Indonesian limited liability company are set out in Part Three of Decree No. 21. Looking towards the future Indonesia is planning a new draft investment law in line with the principles of the World Trade Organisation. The new law, which will replace the Foreign Investment Law of 1967 and the Domestic Investment Law of 1968, will administer both foreign and domestic investment. The new law will apply to direct investment only.