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 open or closed to overseas investors. The omnibus law is […]
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 be stepping down as president director of Bank Permata, after […]
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 they will provide good returns,” Thohir noted in a statement […]
Indonesia focuses efforts towards developing electric vehicle ecosystem
JAKARTA -Indonesia’s state-owned oil company PT Pertamina (Persero) and other state enterprises that are part of Indonesia Battery Holding (IBH) are currently focusing efforts towards developing an electric vehicle (EV) ecosystem in the Southeast Asian country. In addition, they are working towards accelerating the development of the EV battery industry in the country. Battery industries that have big potential […]
Jokowi Targets 182 Million Indonesians Get Covid-19 Vaccine This Year
JAKARTA -President Joko Widodo or Jokowi calculated that 182 milion Indonesians can get Covid-19 shots in 2021, under the requirement that the inoculation must be executed with maximum effort. “Our target is [the vaccination to] 182 million people must complete by the end of this year,” he said during Online Imlek celebration from Bogor Palace, West Java, […]