Indonesia’s exports projected to grow 4 percent in 2021
JAKARTA – Indonesia’s exports are expected to grow by 4 percent this year to support the government’s economic growth target of 5-5.5 percent, according to Indonesian Minister of Trade Muhammad Lutfi. Lutfi said global agencies, such as the International Monetary Fund (IMF) and the Organization for…
Incheon airport signs Indonesia deal
JAKARTA -Korea’s main airport operator said Sunday it will participate in a 600 billion-won ($530 million) airport development project in Indonesia. The Incheon International Airport Corp. (IIAC) has formed a consortium with Indonesia’s state-run airport operator PT Angkasa Pura 1 (AP1) and local construction firm…
Moody’s assigns (P)Ba2 to Bank Negara Indonesia’s Tier-2 notes program
JAKARTA -Moody’s Investors Service has assigned a (P)Ba2 long-term foreign currency subordinate debt rating to the Tier-2 notes component of Bank Negara Indonesia (Persero) Tbk (P.T.)’s (BNI) euro medium-term note program. The rating does not apply to individual securities issued under the program. The ratings…
Investment and Banking Trends in the Post Vaccination Era
JAKARTA – March 9, 2021 – In the current vaccination era, the Indonesian economy continues to be favoured due to the demographic bonus and the rapid adoption of the digital economy. Investments in technology and other supporting sectors such as e-commerce, telecommunications, and logistics have…
DP World Returns To Indonesia With US$1.2B Terminal In Gresik, East Java
JAKARTA -DP World has partnered with Canadian investment group Caisse de Depot et Placement du Quebec (CDPQ) has signed a US1.2 billion long-term agreement with Indonesia’s Maspion Group to start the construction of an international container port and industrial logistics park in Gresik — enhancing East Java’s…
Indonesia Offers More Aggressive Tax Perks for Electric Vehicles
JAKARTA -Indonesia, a top supplier of a key battery metal, will aim to boost sales of electric vehicles with a new regulation that will cut tax breaks for hybrid cars. Battery-powered electric vehicles will retain their 0% luxury tax rate, while plug-in hybrid vehicles will…
Over 4 Million Indonesians Have Received Covid-19 Vaccine
JAKARTA -Indonesia has administered 5.48 million doses of Covid-19 vaccine since the campaign began on January 13, with 4.02 million people having received at least one shot, according to Health Ministry data released on Sunday. Of those figures, 1.48 million citizens have been fully vaccinated…
Asian bourses look to join Spacs craze despite governance concerns
JAKARTA -The Indonesia Stock Exchange has become the third Asian bourse, after Hong Kong and Singapore, to explore allowing special purpose acquisition vehicles, prompting concerns about investor protection as Wall Street’s mania for the vehicles extends to the region. Investors have poured almost $3bn into…
UAE to build tourism resort in Indonesia’s undeveloped Aceh province
JAKARTA -The UAE plans to develop a multimillion-dollar tourism resort in Indonesia’s Aceh province. This is one of a number of large-scale infrastructure projects planned by the UAE in the Asian country, after it signed a Memorandum of Understanding on Friday with the Republic of…
Indonesia eases rules in major foreign investment reform
JAKARTA -The Indonesian government has laid down the ground rules for its new law on job creation, widely seen as an ambitious regulatory reform to lure foreign investments and stimulate the pandemic-hit economy. President Joko Widodo signed 49 “implementing rules” last month to provide officials with specific…