BYD M6 Becomes the Best-Selling Electric Vehicle at Jakarta Auto Week
During the 10-day GJAW 2024 exhibition, BYD received 1,400 electric vehicle orders, with Indonesia's first electric MPV M6 becoming the sales主力. It also won the "Most Popular BEV MPEV Car" award. BYD's booth attracted over 13,000 visitors and conducted 1,272 test drives. The president expressed gratitude for the positive public response, stating that it reflects Indonesian consumers' growing trust in its innovation and technology. In addition to strong sales, BYD collaborated with PLN to launch a new concept for home charging services, demonstrating its commitment to building a sustainable electric vehicle ecosystem. In November 2024, its wholesale sales exceeded 2,800 units, setting a record high, with total sales surpassing 13,000 units in the five months since July, solidifying its position in Indonesia's electric vehicle industry. Looking ahead to 2025, BYD will introduce new innovations and fulfill its sustainable development commitments based on social needs.
China Welcomes Indonesia as Full Member of BRICS
Indonesia's Trade Ministry Continues to Focus on Cracking Down on Illegal Imports This Year
Wuling Registers New Electric Vehicle Model in Indonesia
Indonesian Telecom Scammers Impersonate Tax Office Staff to Defraud
Indonesia's Investment Ministry Reminds Chinese Investors to Be Cautious in Finding Industrial Land
The Indonesian government reminds investors to be cautious when selecting industrial land, as investors often choose the wrong land type, leading to obstacles in factory construction. Chinese investors in particular need to pay attention and should consult with the government. Manufacturing investment in Indonesia has been growing year by year, with investment value increasing 2.7 times from 2018 to 2023. Singapore's investment contributes significantly, some of which may come from Chinese investors. The mining and food industries are the most encouraged. The Chairman of the Indonesian Food and Beverage Producers Association stated that Chinese entrepreneurs are welcome to invest, which can add value, and expressed hope that domestic industries can cooperate to solve raw material supply issues. The President of the China Import and Export Food Chamber said that the chamber is optimistic about its potential to contribute to Indonesia's food and beverage industry, paying attention to the President's free nutritious meal program. Last year, China-Indonesia food trade reached USD 12.8 billion, with strong import and export performance.
Indonesian Official Regulations on VAT Rates Applicable to Different Commodities
The following goods are subject to 12% VAT: luxury residences such as mansions, apartments, condominiums, and townhouses priced at IDR 30 billion or more; hot air balloon groups and navigable hot air balloons, other aircraft without propulsion; firearms and ammunition sets for other firearms (excluding those for state use), bullets and their parts, excluding air rifle bullets; helicopters and other aircraft not subject to 40% import duty, except those used for state purposes or commercial air transport; various firearms and other weapons (excluding state use): cannons, revolvers, and pistols; firearms (excluding artillery, revolvers, and pistols) and explosive devices; luxury cruise ship groups, excluding state use or public transport: vessels primarily designed for passenger transport, all types of cruise ships, excursion boats, and similar vessels (excluding those for state public transport); yachts, except those used for public transport or commercial tourism purposes.
Indonesian FDA Suddenly Seizes Large Batch of This Type of Chinese Product
The Food and Drug Supervisory Agency (BPOM) has seized 235 types of illegally imported cosmetics containing hazardous ingredients in regions including Banten, West Java, Central Java, and East Java, with an estimated value of IDR 8.91 billion. Most of these cosmetics were distributed and promoted through online channels such as e-commerce, primarily originating from China, with some from South Korea, Malaysia, Thailand, the Philippines, and India. The majority of the illegal cosmetics contain hazardous ingredients such as mercury and Rhodamine B dye. In addition, evidence of illegally produced cosmetic raw materials and semi-finished products was also seized, with production activities carried out by manufacturers without authorization to produce cosmetics or pharmaceuticals. These
Plan to Increase VAT to 12% in Indonesia Has Been 'Canceled'
As a New Year's gift to the people in 2025, President Prabowo canceled the plan to increase VAT (PPN) from 11% to 12%. After the policy adjustment, the 12% VAT will only apply to luxury goods and services consumed by the wealthy, such as private jets, yachts, and luxury homes. Meanwhile, goods and services essential for daily life will remain at a 0% tax rate, while other non-luxury goods and services will continue to be subject to the current 11% rate. This decision reflects the government's efforts to achieve the welfare of the people and promote national development, aiming to bring peace and prosperity to the populace.
Indonesia Receives Over IDR 120 Trillion in Chinese Investment
During a visit to Beijing, the Minister of Investment and Head of the Investment Coordinating Board announced that Indonesia has secured new investment commitments from China worth USD 7.4 billion (approximately IDR 120.7 trillion). These investments cover four sectors: polysilicon, fiberglass, polyester resin, and electric vehicles, which will bring new momentum to Indonesia's economic development. During his five-day trip to China, he visited six cities and stated that the visit was very productive, with Chinese companies responding positively to Indonesia's investment policies. The government is also promoting cooperation in training and R&D. The Investment Ministry's target for 2025 is to achieve IDR 1,906 trillion in investment and absorb 2.45 million workers.
Indonesian Government Forms Task Force to Address Imports Threatening MSMEs
The Coordinating Ministry for Community Empowerment will establish an import task force aimed at monitoring incoming goods to prevent disruption to micro, small, and medium enterprises (MSMEs). The Coordinating Minister stated that the task force is being formed to supervise and propose regulatory reforms to the president, addressing the issue of large-scale imports harming domestic production, especially impacting MSMEs. The current flood of imports has led to a decline in local product volumes due to the influx of untaxed or illegal goods. The task force will also review import-related regulations and will be directly led by a deputy of the coordinating ministry. Various ministries have agreed to form the task force to review regulations and handle excessive imports. A special task force will later be established to involve all parties in limiting imports that endanger MSMEs.
6.5% Minimum Wage Hike Poses Heavy Burden on Indonesian Businesses
The Economic Policy Analyst of the Indonesian Employers' Association assessed that a 6.5% increase in the minimum wage will place a heavy burden on the business community, especially in labor-intensive industries, which are currently a focus of the government's efforts to reduce unemployment. While the government aims to encourage a lower unemployment rate, it is simultaneously imposing excessive burdens on businesses. They hope the government can adopt a more neutral policy. The policy is intended to ensure sustained minimum wage growth while taking into account the productivity and competitiveness of national industries. Previously, President Prabowo announced an average 6.5% increase in the minimum wage for 2025.