As of March 2021, remains restricted: construction and installation of electric power (low/medium voltage electric power utilization), which is reserved for indonesian-owned SMEs [foreign-invested companies do not qualify as SMEs because of minimum capital requirements]; and construction of telecommunication centrals conducted by construction company using simple/medium technology remains prohibited to FDI as it is now reserved for MSME/cooperatives. Previously, foreign investment in these activies plus a few other construction activities, such as some utility installation activies, was prohibited.  
"APPENDIX II - 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 ALLOCATED OR PARTNERSHIPS WITH COOPERATIVES AND MICRO, SMALL, AND MEDIUM ENTERPRISES
- Oil and gas construction services: onshore pipeline installation, Oil and gas construction services: Horizontal/vertical tank, onshore oil and gas storage and marketing installation [see 2019 restrictions below]: Open (without condition) [no longer listed] 
- Construction and installation of electric power: Installation of low/medium voltage electric power utilization [see 2019 restrictions below]: Reserved for domestic SMEs
- Provider, operator (operation and renting) and construction service provider for telecommunication tower  [see 2019 restrictions below]: Open (without condition), except for telecommunication central construction conducted by construction company using simple/medium technology, which is allocated to MSME/cooperatives [...]" (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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"CHAPTER I - GENERAL PROVISIONS
Article 1
In this Agency Regulation what is meant by: [...]
12. Domestic Investment, hereinafter abbreviated as PMDN, is an investment activity to conduct business in the territory of the Republic of Indonesia carried out by Domestic Investors using domestic capital.
13. Foreign Investment, hereinafter abbreviated as PMA, is an investment activity to carry out business in the territory of the Republic of Indonesia carried out by Foreign Investors, both those who use foreign capital completely and those who jointly with Domestic Investors. [...]
41. Micro and Small Enterprises, hereinafter referred to as UMK, are micro and small enterprises as referred to in the Law on Micro, Small and Medium Enterprises.
[...]
Part Two - Business Licensing Applicant
Article 9
(1) Business Actors who can apply for a Business Permit consist of: a. natural person; b. business entity; c. representative office; and D. foreign business entity. [...]
(8) Investments made by business entities as referred to in paragraph (1) letter b are categorized into PMDN and PMA.
(9) The PMA as referred to in paragraph (8) must be in the form of a limited liability company under Indonesian law and domiciled in the territory of the Unitary State of the Republic of Indonesia, unless otherwise stipulated by law.
[...]
Part Four Provisions on Investment Value and Capital
Part 1 - UMK-M [SME]
Article 11
(1) Provisions on the value of investment and capital for complying with the criteria for business capital as stipulated in the government regulation concerning facilitation, protection and empowerment of cooperatives and micro, small and medium enterprises.
(2) The criteria for business capital as referred to in paragraph (1) are regulated as follows:
a. micro businesses have business capital up to a maximum of IDR 1,000,000,000.00 (one billion rupiah) excluding land and buildings for business premises;
b. small business has business capital of more than IDR 1,000,000,000.00 (one billion rupiah) up to a maximum of IDR 5,000,000,000.00 (five billion rupiah) excluding land and buildings for business premises; And
c. medium enterprises having business capital of more than IDR 5,000,000,000.00 (five billion rupiahs) up to a maximum of IDR 10,000,000,000.00 (ten billion rupiahs) excluding land and buildings for business premises.
Part 2 - Big Business
Article 12
(1) Business entities as referred to in Article 9 paragraph (1) letter b classified as PMA [foreign-invested companies] are categorized as large businesses and are required to comply with minimum investment value provisions, unless otherwise stipulated by laws and regulations.
(2) Provisions for the minimum investment value for PMA as referred to in paragraph (1), namely the total investment is greater than IDR 10,000,000,000.00 (ten billion rupiah), excluding land and buildings per business sector KBLI 5 (five) digits per project location. [...]
(6) In addition to the provisions on the minimum investment value as referred to in paragraph (2), for PMA, minimum capital requirements are regulated.
(7) The minimum capital requirements for PMA as referred to in paragraph (6) are issued/paid up capital of at least IDR 10,000,000,000.00 (ten billion rupiah), unless otherwise stipulated by laws and regulations.[...]" (REGULATION OF THE INVESTMENT COORDINATING BOARD OF THE REPUBLIC OF INDONESIA NUMBER 4 OF 2021 CONCERNING GUIDELINES AND PROCEDURES FOR RISK-BASED BUSINESS LICENSING AND INVESTMENT FACILITIES [google translation])
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Previously
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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 [...]
[Contruction - civil engineering]
- Oil and gas construction services: onshore pipeline installation, Oil and gas construction services: Horizontal/vertical tank, onshore oil and gas storage and marketing installation, Construction and installation of electric power: Installation of low/medium voltage electric power utilization, [...] Provider, operator (operation and renting) and construction service provider for telecommunication tower: Domestic capital: 100%  [...]"(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)
Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation]
REGULATION OF THE INVESTMENT COORDINATING BOARD OF THE REPUBLIC OF INDONESIA NUMBER 4 OF 2021 CONCERNING GUIDELINES AND PROCEDURES FOR RISK-BASED BUSINESS LICENSING AND INVESTMENT FACILITIES [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://jdih-storage.bkpm.go.id/jdih/userfiles/documents/2021/10/2021PerBKPM004.pdf">Reg</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/40374/perpres-no-44-tahun-2016">PR44</a>]