Fujian Invests IDR 16 Trillion in Batang Special Economic Zone
Indonesia plans to establish six new special economic zones, five of which are located in Sidoarjo, East Java; East Kutai, East Kalimantan; Bulungan, North Kalimantan; and Subang, West Java. The Chief Economic Minister stated that the Fujian Provincial Government of China plans to invest IDR 16 trillion in the Batang Special Economic Zone in Central Java. Xinhua News Agency reported in September last year, citing his remarks, about the plan to establish new special economic zones. Reuters reported that he stated President Prabowo and Chinese leaders discussed this investment plan, but he did not disclose further details. He also mentioned that President Prabowo plans to visit the Batang Special Economic Zone on March 20.
Deputy Minister of Industry Says Indonesia Could Become Destination for Chinese Factory Relocation
Indonesia's Imports of Chinese Textiles Decline in February
Luckin Coffee Establishes Exclusive Coconut Island in Indonesia
Chinese Companies Participate in Construction of Smart Tunnel in Indonesia's New Capital Nusantara
Indonesia Ranks Second Globally in Cobalt Production and Reserves
In 2023, Indonesia's cobalt production trailed only the world's largest cobalt producer, the Democratic Republic of the Congo, which produced 170,000 tons of cobalt in 2023. Indonesia produced 17,000 tons in the same year, up from 9,600 tons in 2022. Russia ranked third with 8,800 tons in 2023. The DRC also holds the world's largest cobalt reserves at 6 million tons, while Australia and Indonesia have 1.7 million tons and 500,000 tons respectively. Globally, cobalt is mainly used in rechargeable battery electrodes, as well as in the manufacture of gas turbine parts and as a component of vitamin B12. In 2023, Indonesia's nickel production accounted for
China Becomes Indonesia's Main Export and Import Destination Last Year
In 2024, Indonesia's import and export performance was positive, and the economy remained stable. On the export side, total exports for the year reached USD 264.7 billion, a year-on-year increase of 2.29%, with export volume growing by 5.37%. The non-oil and gas sector was the main driver of exports, with fuel minerals, animal/vegetable oils, and iron and steel being major export commodities. The products with the largest export growth included cocoa and its preparations, and iron and steel products. China, the United States, and Japan were the main export destinations. On the import side, total imports for the year reached USD 233.66 billion, a year-on-year increase of 11.07%. Machinery and electrical equipment were the main imported goods, with raw materials
Indonesia's 21 Downstream Projects Total US$618 Billion
The Minister of Energy and Mineral Resources revealed that the National Investment Management Agency (BPI Danantara) will fund downstream projects. President Prabowo decided in a closed-door meeting with the Task Force for Downstreaming and Energy Sovereignty that the first phase of downstreaming in 2025 targets 21 projects valued at approximately US$618 billion. The first project is to build crude oil storage facilities for national energy security. According to a presidential decree, Indonesia needs to increase its oil reserves to 30 days, with one storage site to be built on Nipah Island. The government will also build a refinery with a daily capacity of about 500,000 barrels to enhance energy security, and
Chinese Enterprises Invest in Developing Indonesia's Bamboo Industry
The Ministry of Industry facilitates potential investors from China, Germany, and Europe who are interested in developing the bamboo industry in Indonesia. The Deputy Minister of Industry mentioned this during his speech at the opening ceremony of the Indonesia International Furniture Exhibition in Jakarta. These investors are eyeing approximately 9 million bamboo poles in Indonesia as raw materials, believing that Indonesian bamboo is superior to some raw materials in China, and its strength makes it a viable alternative to wood. The Deputy Minister stated that Betung is one of the strongest bamboo varieties considered to replace wood raw materials. He cannot yet detail how much these potential investors will invest, but the investment could
Indonesian Parliament Urges Government to Take Measures Against Illegal Imports
The Vice Chairman of Commission VII of the Indonesian Parliament urged the government to immediately take firm measures to save the domestic industry from the impact of massive imported goods. She emphasized that this issue cannot be handled solely by the Ministry of Industry but must involve all ministries and relevant institutions nationwide. She pointed out that the flood of imported goods is not only in the textile industry but also in electronics, footwear, and may even spread to the automotive industry, worsening the domestic industry and increasing layoffs across sectors. She requested the Minister of Trade to revoke ministerial regulations deemed to facilitate the entry of imported goods to the detriment of domestic companies, and also urged the Minister of Finance to revise ministerial regulations considered to provide convenience for imported goods entering
Steel Association Supports Imposition of Anti-Dumping Import Duties
The Indonesian Iron and Steel Industry Association (IISIA) welcomes the implementation of the Anti-Dumping Import Duty (BMAD) policy, which is considered capable of maintaining the competitiveness of the domestic steel industry and curbing lower-priced imported steel products. BMAD is an additional import duty imposed on imported products sold at prices far below their production costs or market prices in the country of origin; dumping practices weaken the competitiveness of domestic producers and reduce their market competitiveness. The Chairman of IISIA stated that BMAD helps drive the steel industry to improve its competitiveness, allowing domestic producers to continue production without worrying about dumping practices. BM
Indonesia Imposes Anti-Dumping Duties on Nylon Film from Mainland China and Taiwan
The Minister of Finance has imposed anti-dumping duties on nylon film products imported from Mainland China, Thailand, and Taiwan (Chinese Taipei) because the export prices of these imported goods were below normal value, causing losses to the domestic industry. The regulation will take effect 10 working days after its promulgation on March 11, 2025, and is valid for four years. Based on the findings of the Indonesian Anti-Dumping Committee, it was found that nylon film products from Mainland China, Thailand, and Taiwan (Chinese Taipei) were being dumped, causing losses to the domestic industry, and there is a causal link between the dumping and the losses suffered by the domestic industry. The anti-dumping duties apply to