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…
AstraZeneca UK Covid-19 Vaccine Arriving in Indonesia Today
JAKARTA -Spokesperson for the Foreign Affairs Ministry, Teuku Faizasyah, confirmed that the AstraZeneca Covid-19 vaccine will arrive in Indonesia today, March 8, 2021. The vaccine developed by a British pharmaceutical company will come in ready-to-use form. The arrival will be broadcast live via the Presidential Secretariat YouTube channel beginning at 6:25 p.m. “That’s right,” said Faizasyah via…
Indonesia develops medical tourism for elderly tourists
JAKARTA -Minister of State-Owned Enterprises of Indonesia Erick Thohir has said the Indonesian Government will build the Sanur area in Bali into a world-class Health Special Economic Zone (SEZ), focusing on medical tourism serving elderly tourists. Addressing the Investor Forum 2021 webinar on March 3, Thohir highlighted the potential of…
Indonesia Issues Implementing Rules for Investment Law Reform
JAKARTA -Indonesia has released the specifics of its investment law overhaul, with changes that include lower taxes on bond earnings and new permit requirements for plantations. The 49 implementing rules cover land management, foreign worker regulations and a new framework for deciding which sectors are…
President Widodo names Wirakusumah as CEO of Indonesia SWF
JAKARTA -Indonesian President Joko Widodo has officially announced the appointment of Ridha Dm Wirakusumah as the CEO of the country’s sovereign wealth fund that is slated to have a corpus of $20 billion. The news was first broken by DealStreetAsia last week. With the appointment, Wirakusumah will…
Minister invites Singapore to further intensify economic cooperation
JAKARTA -Minister for State-Owned Enterprises of the Republic of Indonesia, Erick Thohir, invited Singapore to further bolster economic cooperation. “President Joko Widodo has formed and appointed professionals to handle Indonesia’s sovereign wealth funds called the INA. Many projects are prepared and are very prospective because…