Presidential Regulation No. 39 of 2014 on The List of Business Fields that are Closed or Conditionally Open for Investment (“Negative List”) was issued and became effective on 24 April 2014. This new negative investment list revises and replaces the previous Negative list which was released in 2010. The new Negative List revises the components of the 2010 list classified as: a) closed for investment; and b) conditionally open for investment. The business fields covered by the Negative List are in a wide variety of sectors with perhaps the most influential changes being in the energy and mineral resources, trade (in particular, distribution), agriculture, power and pharmaceutical fields.