Prabowo's Visit to China to Sign $10 Billion in Contracts
President Prabowo stated that several Indonesian companies will sign contracts worth over $10 billion with Chinese companies. Tomorrow afternoon, the Indonesian Chamber of Commerce and Industry will hold an event where Chinese and Indonesian companies will sign contracts in the scientific field worth over $10 billion. He made this statement during a bilateral meeting with the Chinese Premier at the Great Hall of the People in Beijing on Saturday, as part of his state visit to China, in addition to meeting with the national leadership and the Chairman of the Standing Committee of the National People's Congress (NPC). He thanked the Premier for his statement that they need to take practical measures, and he believes progress in practical steps has been very rapid. Chinese companies currently have very significant investments in Indonesia, reflecting cooperation and showing that Chinese companies are increasingly partnering with Indonesian companies for the benefit of both nations. Furthermore, Indonesia and China will celebrate the 75th anniversary of diplomatic relations in 2025. Next year, when both sides celebrate the 75th anniversary of diplomatic relations, he wants to convey to all parties that cooperation in all fields will increase substantially.
Indonesian Industry Calls for Protection of Steel Sector from Chinese Imports
Indonesia to Ban Export of Copper and Tin Raw Materials Starting Next Year
China-Indonesia Cooperation to Establish Electric Vehicle Battery Production Enterprise
Indonesia Plans to Export Electric Motorcycles to Southeast Asia and Africa
Huayou Cobalt Deepens $5 Billion Investment in Indonesia's Nickel Industry
On October 18, 2024, the feeding ceremony for Huayou Cobalt's battery ternary precursor project factory was successfully held at the Weda Bay Industrial Park in Indonesia. Since 2018, Huayou Cobalt has accumulated nearly $5 billion in investments in Indonesia. So why does Huayou Cobalt choose to bet on Indonesia and deeply cultivate the new energy battery materials industry there? Let Manager Wang explain in detail: First, Huayou Cobalt was founded in 2002 by Zhejiang businessman Chen Xuehua, headquartered in Tongxiang, Zhejiang. It is a high-tech enterprise engaged in the R&D and manufacturing of new energy lithium battery materials and cobalt new materials, and ranks among China's top 500 enterprises.
CATL Invests $1.18 Billion in Indonesian Battery Factory
On October 16, witnessed by Indonesia's Deputy Minister of State-Owned Enterprises, Indonesia Battery Corporation (IBC) and CATL's subsidiary CBL jointly established a joint venture company to build a JV 5 battery manufacturing factory in Karawang, West Java, Indonesia, with an investment of approximately $1.18 billion. The factory is expected to start production in 2027, with a planned annual battery capacity of 15 GWh. As the world's largest power battery manufacturer, CATL had already positioned itself in Indonesia early on. In 2018, CATL partnered with domestic nickel giant Tsingshan Holding Group
CNGR Group Plans $10.5 Billion Battery Industrial Park in Indonesia
On October 30, according to Indonesian media reports, Chinese battery material manufacturer CNGR Advanced Materials Co., Ltd. plans to build a battery industrial park worth $10.5 billion in Indonesia. Magdalena, an Indonesian director of CNGR Group, stated that the total investment in this industrial park is $10.5 billion, to be developed in three phases. It has been designated as a national strategic project by the Indonesian government, which will provide investment incentives including land. The park requires 3,000 to 5,000 hectares of land, and the project location is still under consideration. The planned park welcomes partners in the battery industry chain to join.
Poor Enforcement of SNI Standards for Imported Products in Indonesia Highlights Issues
Imported products that do not comply with the Indonesian National Standard (SNI) can enter the country, as revealed by the Head of the Industrial Service Standardization and Policy Agency at the Ministry of Industry (Kemenperin). The standardization body under the ministry has a center called the Industrial Standards Supervision Center, which has repeatedly found imported products that are allegedly legally entering without SNI, even though it is mandatory. This indicates the difference between legal and illegal. This situation has the potential to cause state losses due to the loss of import duties on imported goods, and these goods have also not undergone the SNI
Indonesia's Domestic Textile Industry Problems Are Becoming Increasingly Acute
The national textile industry is in serious trouble. The bankruptcy declaration of PT Sri Rejeki Isman Tbk or Sritex has sounded an alarm, requiring immediate government intervention to correctly diagnose and provide a panacea to revitalize the labor-intensive textile industry and domestic textile products. Sritex has long been a symbol of Indonesia's high-quality textile industry. The Executive Director of the Indonesian Textile Association (API) stated that if such a large factory can collapse, it means there are things that must be noted. It is necessary to examine what caused Sritex's downfall—whether it was internal
Jakarta Region Exempts Electric Vehicle Owners from Applicable Taxes
The Jakarta Provincial Government has issued regulations and incentives to attract people's interest in switching to electric vehicles. Electric vehicles or Battery Electric Vehicles (Battery-based KBL) are vehicles driven by electric motors and directly obtain electrical power from batteries inside or outside the vehicle. The Head of the Jakarta Tax Data and Information Center explained that the Jakarta Provincial Government has issued Jakarta Governor Regulation No. 38 of 2023 concerning the basis for imposing Motor Vehicle Tax and Motor Vehicle Ownership Transfer Fees in 2023. One of these regulations regulates
Jakarta Seizes Rp 2.2 Billion in Illegally Imported Chinese Cosmetics
The Head of BPOM, accompanied by the Supervisory Coordinator (Korwas), PPNS Metro Jaya Regional Police (Polda), and personnel from the National Army Strategic Intelligence Agency (BAIS TNI), held a press conference titled "BPOM Cooperates with National Police to Seize Illegal Import Cosmetics Online Store." Also attending this event were the Deputy for Law Enforcement, Head of Jakarta POM Center, Head of Jakarta Customs Regional Office and Acting Daily Executive, Operation Controller of the Kerinci Task Force of the National Intelligence Agency's Strategic Intelligence (BAIS) and Commander of Geospasika Intelligence Unit, Head of Trade and Industry Unit 1 (Indag) of the Special Criminal Investigation Directorate (Ditreskrimsus) of Polda Metro Jaya, and the Coordinator of the Senior Prosecutor's Office.