Indonesia Plans to Develop Downstream Kratom Industry
The Minister of Cooperatives and Small and Medium Enterprises (MenkopUKM) encourages the downstream development of various kratom products, which has huge potential, with profits of up to IDR 90 million per kilogram (Kg). In a cabinet meeting, kratom was designated as a herbal medicine. It has product potential not only for the food and beverage or catering industry but also for the pharmaceutical and health sectors. It would be a shame to only sell raw materials. The price of extract is currently up to USD 6,000 per kg, equivalent to IDR 90 million. Furthermore, he stated that the technology for downstream production equipment is relatively cheap and easy to obtain.
UOB Indonesia 2025 Economic Outlook Forum
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BYD Rises to Sixth Place Among Indonesia's Best-Selling Car Brands
In August 2024, the ranking of the top 10 best-selling four-wheeled vehicle brands in Indonesia changed, with BYD, which had only started selling a few months earlier, ranking sixth. BYD only sells electric vehicles in Indonesia. According to wholesale data from the Indonesian Automotive Industry Association (Gaikindo), its sales reached 2,940 units, the highest sales figure since Gaikindo began recording BYD's sales in June. Previously in July, BYD ranked ninth among the best-selling brands. However, in August, the Chinese brand climbed to sixth place, replacing regular brands such as Hino, Fuso, Isuzu, and Wuling.
Indonesian Industry Calls for Restrictions on E-commerce Goods Imported from China
The Executive Director of CELIOS explained that e-commerce products imported through distributors and cross-border channels have increased significantly, posing a threat to local producers. According to CELIOS data, total e-commerce imports soared from 6.1 million items in 2017 to 100 million items in 2022. The increase in e-commerce import packages indicates the expansion of imports from China in the online market. In addition, there are signs of large-scale piracy of local products, especially Muslim clothing and accessories. Multiple policy options are needed to control the increase in e-commerce imports from China, one of which is
2024.09.20 Indonesia Manufacturing Summit Looking Forward to Your Presence
Over the past year, the Indonesian government has tightened imports of finished goods and consumer products through quotas, certifications, and tariff barriers. Especially since July, the establishment of a task force to rectify illegal imports has put unprecedented pressure on entrepreneurs engaged in cross-border supply chain trade and e-commerce in Indonesia. Moreover, future import regulations in Indonesia may become increasingly strict. Is there still an opportunity in the Indonesian market, and how should one enter? In fact, amidst crisis, there must be opportunities. To break through in the Indonesian market, first, one must be a professional player with industry and product experience. Second, adopt a long-term mindset, planning with a three-year cycle. Third, build a business model based on the principle that opportunities in the To B sector outweigh To C, and manufacturing opportunities outweigh trade. For more on breaking into the Indonesian market, welcome to attend the Indonesia Manufacturing Forum on September 20th. Manager Wang is waiting for you!
Influx of Chinese Imported Goods Impacts Indonesia's Domestic Ceramic Industry
In the first half of 2024, the utilization rate of national ceramic products was only 62%, a decline from 69% in 2023 and 78% in 2022. The Chairman of Asaki stated that the decline in utilization rate was due to dumping of ceramic tiles imported from China. In the first half of 2024, Chinese imports increased by 11.6% to 34.9 million square meters, resulting in obvious negative impacts and losses. Furthermore, during the 2018-2023 period, a trade deficit of $1.24 billion was recorded in ceramic import and export transactions. He believes this situation should not occur because the national ceramic industry
Regulations on Foreign Citizens Owning Property in Indonesia
Indonesia, an archipelagic country, has undoubtedly become an investment target worldwide in many aspects, and one interesting investment is real estate. Basically, Indonesian property law restricts property ownership for foreign citizens (WNA), but there are certain schemes that allow foreigners to own property in Indonesia, subject to certain limitations and conditions. As a foreigner, you must first obtain a residence permit in Indonesia, i.e., hold a Limited Stay Permit Card (KITAS), in order to purchase real estate in Indonesia. This measure aims to provide an impetus for foreigners to buy property, not only as an investment but also for residence. Foreigners are only allowed to
Zhang Gui Says: US Tariff Hikes Drive Manufacturing Overseas to Southeast Asia for Breakthroughs
On September 13, the Office of the United States Trade Representative issued a final decision on the Section 301 tariff hikes on Chinese goods, continuing to impose tariffs on Chinese products. This has drawn high attention from Chinese industries, including: • 100% tariff on imported Chinese electric vehicles • 50% tariff on solar cells • 25% tariff on steel, aluminum, electric vehicle batteries, and critical minerals The above will take effect on September 27; • 50% increase in import tariffs on Chinese semiconductors
