Land prices in Indonesia's new capital may surge tenfold next year
President Jokowi has been encouraging domestic and foreign investors to invest funds or investments in the National Capital (IKN) of East Kalimantan this year. His enticement also comes with a picture that the current land prices in IKN could skyrocket tenfold next year. Jokowi stated that land prices in IKN are still very cheap now and will undoubtedly rise in the future. Jokowi said at the groundbreaking ceremony for the project of Chinese investor Delonix Group in the IKN area of East Kalimantan that land prices could double, triple, quintuple, or even increase tenfold next year. If you want to invest this year, I need to remind you.
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Midea Launches New Energy-Efficient Air Conditioners for the Indonesian Market
Home electronics manufacturer Midea Electronics Indonesia aims to sell 10,000 inverter air conditioner units by 2024, in line with the plan to open a Midea air conditioner factory in the Jababeka Industrial Area in Cikarang, Bekasi. In addition to opening the factory, Midea is actively launching new products, one of which is a 0.5 PK split-type inverter AC series that uses the latest technology to be more energy-efficient, as support for the government's energy-saving program. The head of the product division at Midea Electronics Indonesia stated that Midea meets the needs of Indonesian home consumers for durable and power-saving air conditioners.
GAC Aion Plans Local Production in Q1 Next Year
As part of the GAC Group, Aion has begun expanding its market to Indonesia. In the near future, the Chinese manufacturer is also preparing to build a production facility in the country. The CEO of Aion Indonesia stated that the company is committed to launching electric vehicles at prices that meet community expectations. According to him, Aion's electric vehicles will not be cheap, but they will adjust consumer expectations as much as possible in terms of price and models. All models will be produced locally, including the Aion Y Plus and Hyptec HT. Meanwhile, the initial launch phase does not yet include batteries, as only 40% of the TKDN is required. If batteries are included, it must exceed 40%, and this will depend on regulatory requirements in the future.
Sutanto: Indonesia's Industrialization, Big Opportunities for Chinese Enterprises
I. Indonesia's Industrialization Journey: In 1967, Indonesia experienced a government change when the military intervened, and the government under President Suharto became strong, thus starting the industrialization process. Indonesia imposed high tariff protection on textiles. In 1967, textile production was 100 million meters per year, and by 1980, this output had increased 100 times in ten years to 10 billion meters per year, transforming from an importer to an exporter. Major investment came from Japan, which introduced technology to Indonesia by selling machinery and equipment, covering everything from weaving to finished products. Subsequently, the housing construction industry, food industry, food processing, and transportation sectors also developed rapidly. At that time, Indonesia achieved rice self-sufficiency, changing from an importer to an exporter. Automobile manufacturing, especially parts production, also grew rapidly, mainly due to Indonesia's cheap labor and large population base, with high demand for motor vehicles, especially motorcycles and small cars.
Indonesia Plans to Build Ocean Energy Power Plants
The Ministry of Energy and Mineral Resources (ESDM) has revealed Indonesia's plan to develop ocean energy power plants, targeting a capacity of 2 gigawatts (GW) by 2060. The Director General of New, Renewable Energy and Energy Conservation (EBTKE) at the Ministry of Energy and Mineral Resources expressed this during the Indonesia Environmental Challenge Solutions event. The National Electricity General Plan (RUKN) and the Electricity Supply Business Plan (RUPTL) set targets for utilizing ocean energy power plants. Under the net-zero scenario, wind usage increases, followed by ocean energy, which will contribute 2 GW by 2060.
GAC Aion Opens Ten Dealer Outlets in Indonesia
Aion Indonesia recently opened 10 dealers simultaneously in Jabodetabek and Bandung, a result of cooperation with PT Indomobil Wahana Trada. These dealers opened after the arrival of 600 imported Y Plus units in early September. Aion Indonesia stated that this opening is part of the initial distribution plan for the Aion electric vehicle model Y Plus. Among the 10 dealers, 9 are located in Jabodetabek and 1 in Bandung. These dealers mostly offer 3S (Sales, Service, Spare parts) and 1S (Sales) services. Dealers with 3S status include Aion PIK, Aion Daan Mogot, Aion Warung Buncit, Aion Harapan Indah, Aion Sukamaju, Aion Cikarang, and Aion Soekarno Hatta. Meanwhile, the other three 1S dealers are Aion QBig, Aion Supermall Karawaci, and Aion Grand Metropolitan Mall.
Indonesia Plans to Implement Global Minimum Tax System
The Indonesian government plans to immediately implement the Global Minimum Tax (GMT) system, a concept proposed by the Organisation for Economic Co-operation and Development (OECD), with a minimum effective tax rate of 15%. The Deputy Minister of Finance stated that implementing the global minimum tax in Indonesia could increase state revenue by IDR 3.8 trillion, reaching IDR 8.8 trillion. Considering the rapid development of technology and digitalization, implementing the global minimum tax is very important. This development makes national borders increasingly blurred, so many multinational companies operate in multiple countries without having a physical presence. This condition means that the traditional tax system applied so far cannot tax these companies
Norde Shares Joins Hands with Indonesia IBC to Build Battery Industry Chain
On September 30, the world's largest lithium battery and electrolytic copper foil manufacturer Norde Shares signed a memorandum of understanding with Indonesia Battery Corporation (IBC). The scope of cooperation under this MoU includes market research for lithium-ion battery and PCB copper foil, and exploring investment plans to form a copper foil joint venture. The head of Indonesia Battery Corporation expressed strong support for this initiative, promoting Indonesia as a global production hub for the battery industry, capable of supplying battery products and components to the EU, the US, and Asia. Norde Chairman Chen Lizhi stated that leveraging Indonesia's abundant copper resources, Indonesia will become Norde's hub for market expansion in the ASEAN region