As of March 2021, no longer restricted. Previously, foreign investment in a few forest plantation business (e.e.g Rubber and other latex-producing crops) were subject to 95% maximum foreign ownership and and subject to the 20% "plasma obligation" (i.e. the investor needed to provide the local community with a plantation area of at least 20% of the total area given to the company as stated in its plantation business license). Some other forestry-related manufacturing (e.g. sawn timber industry with production capacity above 2,000 M3/yea, and veneer, plywood, laminated veneer lumber (LVL), wood chip, and industries) and tourism activities (e.g.ecotourism facilities, activities and services within forest areas including water tourism, natural adventure tourism and cave tourism) were subject, respectively, to a recommendation requirement [approval] by the Ministry of Environment and Forestry and to minority foreign shareholding limitation. These measures were considered under their respective economic sectors under the FDIRRI.
"APPENDIX III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 49 OF 2021 CONCERNING AMENDMENT TO PRESIDENTIAL REGULATION NUMBER 10 OF 2021 CONCERNING THE INVESTMENT BUSINESS SECTOR
LIST OF BUSINESS FIELDS WITH CERTAIN REQUIREMENTS
- Plantation seeding business industry in an area of 25 Ha or more (Rubber and other latex-producing crops ); Plantation business in an area of 25 Ha or more up to a specified area without processing units (Rubber and other latex producing plantation); Plantation business in a total area of 25 Ha or more integrated to the processing units with the same or exceeding a certain capacity (Rubber plantation and industry of sheet, concentrated latex)  [see 2019 restrictions below]: Open (without condition)[...]"(Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation])
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Previously: up to 2020
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"APPENDIX  III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITION TO INVESTMENT - 
LIST OF BUSINESS FIELDS THAT ARE OPEN UNDER SPECIFIC CONDITIONS [...]
A. Agriculture Sector
-Plantation seeding business industry in an area of 25 Ha or more (Rubber and other latex-producing crops ); Plantation business in an area of 25 Ha or more up to a specified area without processing units (Rubber and other latex producing plantation); Plantation business in a total area of 25 Ha or more integrated to the processing units with the same or exceeding a certain capacity (Rubber plantation and industry of sheet, concentrated latex): a. Foreign capital ownership: Max.95%; b. Obligation of 20% Plasma Plantation
[...]
B. Forestry Sector
-Business Field : Hunting in Hunting Parks and Hunting Blocks business: Foreign capital ownership: Max.49%
-Wildlife and plant breeding and conservation institutions: Foreign capital ownership: Max.49%
-Nature tourism business in the form of provision of ecotourism facilities, activities and services within forest areas including water tourism, natural adventure tourism and cave tourism: a. Foreign capital ownership: Max.49%; b. Foreign capital ownershipMax.70% for investors from ASEAN countries.
-Development of technology utilization on plant and wildlife genetics: Statement on partnership with accredited institution/ laboratory in Indonesia/national research and development institutions appointed by the Ministry of Environment and Forestry
-Sawn timber industry with production capacity above 2,000 M3/year:  Recommendation of continued raw material supply from the Ministry of Environment and Forestry
-Veneer industry:  Recommendation of continued raw material supply from the Ministry of Environment and Forestry
-Plywood industry:  Recommendation of continued raw material supply from the Ministry of Environment and Forestry
-Laminated Veneer Lumber (LVL) industry:  Recommendation of continued raw material supply from the Ministry of Environment and Forestry
-Wood chip industry: Recommendation of continued raw material supply from the Ministry of Environment and Forestry
-Wood pellet industry:  Recommendation of continued raw material supply from the Ministry of Environment and Forestry
-Exploitation of timber forest products of natural forest:100% domestic capital
-Procurement and distribution of forest plant seeds and seedlings (export and import of forest plant’s seed and seedling): 100% domestic capital
-Utilization of water environment services business in forest areas: 100% domestic capital
-Catching and propagating plants and wildlife from natural habitat: a. Domestic 100% local capital; b. Recommendation from the Ministry of the Environment and Forestry [...]" (PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT)
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"CHAPTER I - GENERAL PROVISIONS
Article 1. Referred to herein as: [...]
13. Partnership shall be cooperation in business linkage, both directly and indirectly, based on mutual need, trust, consolidation, and benefit principles engaging actors of Micro, Small, and Medium Enterprises as well as Large Enterprises.
[...]
CHAPTER V - BUSINESS CLIMATE ENGENDERING
Article 7. (1) The Government and Regional Governments shall engender Business Climate by stipulating laws and regulations as well as policies that include the following aspects: [...] d. partnership; 
[...]
Article 11. Partnership aspect as intended in Article 7 paragraph (1) sub-paragraph d shall be aimed at: a. materializing partnership among Micro, Small, and Medium Enterprises; b. materializing partnership among Micro, Small, Medium, and Large Enterprises; c. stimulating mutual benefit relationship in the implementation of business transactions among Micro, Small, and Medium Enterprises; d. stimulating mutual benefit relationship in the implementation of business transactions among Micro, Small, Medium, and Large Enterprises; e. developing cooperation to improve bargaining position of Micro, Small, and Medium Enterprises; f. stimulating the formation of market structure that guarantees the growth of fair business competition and protect consumers; and g. preventing the occurrence of market control and business concentration by individual persons or certain groups that harms Micro, Small, and Medium Enterprises. 
[...]
CHAPTER VIII - PARTNERSHIP
Article 25. [...] (2) Partnership among Micro, Small, and Medium Enterprises and Partnership between Micro, Small, and Medium Enterprises and Large Enterprises shall include skill transfer process in the field of production and processing, marketing, capitals, human resources, and technology. 
[...]
Article 26. Partnership shall be conducted under the following systems: a. core-plasma; b. subcontract; c. franchise; d. general trade; e. distribution and agency; and f. other forms of partnership, such as: profit sharing, operational cooperation, joint venture, and outsourcing. [...]" (Government Regulation Number 17 Year 2013 concerning Implementation of Law Number 20 Year 2008 concerning Micro, Small, and Medium-scale Enterprises)
Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation]
PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT
[<a href="https://peraturan.bpk.go.id/Home/Details/168534/perpres-no-49-tahun-2021">PR49</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/161806/perpres-no-10-tahun-2021">PR10</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/40374/perpres-no-44-tahun-2016">PR44</a>]