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 Spacs focused on acquiring Asian companies this year, nearly doubling […]
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 to co-operate in the areas of creative economy, tourism, […]
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 details on how the law would be applied in practice […]
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 a text message to Tempo today morning. However, Faizasyah said that he […]
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 Sanur – a coastal town and a well-known resort in […]
Omnibus Law on Job Creation Expected To Significantly Improve Investment Climate
SCCI Investment and Business Webinar JAKARTA -As Indonesia emerges from the Covid-19 pandemic, its economic growth prospects are looking brighter. Speaking during the Singapore Chamber of Commerce Indonesia webinar, Enrico Tanuwidjaja, Senior Economist, UOB Indonesia said Indonesia could speed up economic the recovery due to a few factors. In 2020, Indonesia’s GDP contracted mildly by […]
Indonesia Growth Prospects 2021: New Horizons
SCCI Investment and Business Webinar JAKARTA -Over the last decade, Indonesia has been a close partner for Singapore both in terms of government to government and business to business links. While Indonesia has not been able to attract interest in traditional sectors such us manufacturing, property and electronics from Singapore during the pandemic, new sectors […]