The latest news shows that Indonesia is planning to launchThe Minister of Tourism and Creative Economy of Indonesia stated that foreigners who obtain a gold visa in Indonesia can obtain up to 10 years of residency. The government hopes to attract more talents in the fields of digitalization, health, scientific research, and technology through this program. At present, the specific details of this policy are awaiting discussion between the Indonesian Ministry of Law and the Immigration Department of the Ministry of Human Rights.

The golden visa refers to foreign citizens obtaining residency and citizenship rights in a country through investment or payment of certain fees. It is an internationally recognized policy to attract foreign investment, and immigrant countries such as the United States, Singapore, and Canada have implemented this visa program for a long time.

In fact, this is not the first time Indonesia has promoted domestic economic development through immigration policies.

As early as last yearIn December, Indonesia implemented the "Second Home Plan", which provides foreigners with a residency period of up to 10 years. The application condition is that the deposit in Bank Negara Indonesia reaches IDR 2 billion, about US $128000, or has assets of the same value in Indonesia. Visa holders can also enjoy a tax exemption period for overseas income.

President Joko of List of presidents of Indonesia has publicly stated that,The "Second Home Program Visa" is mainly aimed at businessmen or elderly tourists who "want to rest well in Indonesia", and can actually be considered as an immigration and elderly care program related to Indonesia.

However, despite this policy, Indonesia's total foreign direct investment has increased significantly. Data display,Indonesia's total foreign direct investment in 2022 reached 45.6 billion US dollars, increased year-on-year44.2%, which is also the highest level of foreign investment in History of Indonesia's history.

In June, Indonesia once again launched a new visa program, which directly targets outstanding talents in the fields of digital, healthcare, research, and technology. The aim is to attract global elite talents through long-term residence permits, making Indonesia a more attractive place to live and invest.

Industry insiders analyze that Indonesia's move is mainly aimed at changing the existing industrial structure in the country.

The survey shows that although Indonesia's attractiveness to foreign investment has significantly increased in the past two years, the investment industries of foreign investment are mainly concentrated in industries such as metals and metal products, agricultural products, mechanical equipment, leather textiles, wood furniture, etc., with metals and agricultural products being the most common.

The metal and agricultural products industry mainly relies on Indonesia's natural mineral resources and cheap labor. This type of industry not only has low added value and low profit margins, but is also highly susceptible to external influences and is very unstable.

Indonesia's upcoming visa program directly targets talents from various high-end and cutting-edge industries, attempting to reverse the transformation of industrial structure and promote the development of the technology industry through the advantage of long-term residence. The Indonesian immigration authorities have publicly stated that this policy will be established as a specific legal provision, and Indonesia hopes to achieve economic results similar to those of Singapore and Canada.

However, many authoritative figures are not optimistic about this. They believe that in order to promote the transformation of the economic structure, high-end talents are only one aspect. The first thing needed is to create good industry conditions, including the business environment brought by relevant policies, transportation convenience, network connectivity, energy supply, etc. brought by infrastructure construction. Indonesia is clearly still in a weak position in these aspects.