Indonesia's plan to raise VAT to 12% "scrapped"
As a New Year 2025 gift to the people, President Prabowo has canceled the planned hike in value-added tax (VAT) (PPN) from 111 TP3T to 121 TP3T. The policy was adjusted to levy 12% VAT only on luxury goods and services consumed by the wealthy class, such as...
Indonesia receives more than 120 trillion rupiah in Chinese investment
During his visit to Beijing, the Minister of Investment and Head of the Investment Coordinating Board announced that Indonesia has received new investment commitments of US$7.4 billion (about Rp 120.7 trillion) from China. These investments cover polysilicon, fiberglass, polyester tree...
Indonesian Government Establishes Working Group to Address Imported Goods Endangering MSMEs
The Coordinating Ministry for Community Empowerment (CMCE) is set to form an Import Working Group with the objective of monitoring incoming goods to prevent them from interfering with Micro, Small and Medium Enterprises (MSMEs). The Coordinating Minister said the working group is being formed to monitor and make recommendations to the President on regulatory reforms to deal with the high volume of imports that are damaging domestic livelihoods...
Minimum wage hike of 6.51 TP3T puts huge burden on Indonesia's business community
Economic policy analysts from the Indonesian Employers' Association assessed that the minimum wage increase of 6.5% would place a huge burden on the business community, especially labor-intensive industries, and that labor-intensive industries are becoming the government's focus for reducing unemployment. The government a...
BYD Leads Indonesia's Electric Vehicle Market
BYD has been in Indonesia for less than a year and is already leading the local EV market.2024 The company entered the country in January with the Dolphin, Atto 3 and Seal, and the products went on sale in the middle of the year, with the M6 launching in July to a positive response. According to the Indonesian Automotive Industry Association...
Indonesia 2025 Minimum Salary Rate Increased by 6.5%
Recently, Indonesia announced that the minimum salary rate (UMP) in 38 provinces across the country will be increased by a uniform 6.51 TP3T from 2025.The core objective of this adjustment is to adapt to the continued socio-economic development and to mitigate inflation and living...
Indonesia's ban on foreign investment in industries reduced from over a hundred to five
Indonesia's Minister of Investment and Downstream, among others, said that investment is the key to economic growth and that the government prioritizes increasing the flow of high-quality investment, with President Prabowo targeting economic growth of 8%.Currently Indonesia's economic growth is driven by domestic consumption (contributing 53-...
Indonesia's local textile industry complains about imports hitting Indonesian market
Work convection entrepreneurs association general chairman said the past two years, a large number of imported goods influx, to 60% small and medium-sized enterprises members of the closure of the 50% difficult to survive, because of the low price of imports, suspected of illegal imports, the local business is difficult to compete, they have to lay off employees...
Indonesia's Rp 267 trillion mineral downstream investment needs 5 GW of electricity
Mining holding company MIND ID plans to invest 267 trillion dong to support four of its members' downstream projects until 2029, a budget that has been planned for a long time. The product director said the projects require a lot of energy, at least 5 GW of electricity by 2029, but this demand...
17 Indonesian companies ready to become Apple suppliers
The Ministry of Industry expects domestic companies to integrate into Apple's global supply chain, and about 17 domestic companies covering chargers, LEDs and other component areas are ready to enter the Apple value chain. Meanwhile, the government is promoting digital development related to Industry 4.0...
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