Complete List of Indonesia's 20 Special Economic Zones (SEZs)
At the end of his term in October 2024, President Joko Widodo designated two new Special Economic Zones (KEK). SEZs are defined areas with certain boundaries designated to perform economic functions and receive specific facilities. SEZs have been regulated since the enactment of the Law on Special Economic Zones in 2009. The government established KEK to accelerate equitable national development, believing that developing SEZs in various regions helps foster new, highly competitive economic growth centers. The KEK policy is also considered crucial for increasing investment, thereby contributing to regional equitable development. As of the first half of 2024, there are
Indonesian Government Seizes 9.8 Billion Rupiah in Illegally Imported Chinese Ceramic Goods
Indonesia's Ministry of Industry accuses Trade Ministry regulations of harming manufacturing
NICE, a large convention and exhibition center in the PIK 2 area, is expected to begin operations in September next year
Seven-Seat MPVs are a Must-Have Model in Indonesia's Automotive Market
Indonesia Suddenly Tightens Restrictions on Imports from China
The Indonesian Quarantine Agency (Barantin) requires importers, especially those from China, to provide certified laboratory test result certificates for animal, fish, and plant commodities to be imported into Indonesia. The Head of the Jakarta Animal, Fish, and Plant Quarantine Center (BBKHIT) stated that Chinese goods are targeted because the country's food safety system has not yet been recognized by Indonesia, so laboratories must be registered and accompanied by an SOA certificate. He explained the policy stipulated in the Minister of Agriculture Regulation No. 55 of 2016, which stipulates that for countries that have not yet obtained recognition and registration, certification is required. The same applies to African countries without laboratory recognition and registration.
150 Domestic and International Franchise Brands Participate in Business Expo
The 2024 Indonesia Franchise and License Expo (FLEI) business exhibition was recently held at the Jakarta Convention Center (JCC), showcasing more than 150 local and international brands as well as premium products and programs such as business meetings, business coaching sessions, and the 2024 Indonesian Latte Art Championship (ILAC). FLEI is a strategic platform for entrepreneurs and investors to collaborate, expand networks, and create business innovation in various fields. The President of Panorama Media stated that this event is more than just an exhibition. The 2024 FLEI Business Show is a meeting point for innovation and business opportunities.
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.
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
Ministry of Trade Rejects Temu’s Entry into Indonesia’s E-commerce Market
The Minister of Trade (Mendag) emphasized that he will not allow the e-commerce application from China, namely Temu, to enter Indonesia and has not approved its entry application. In addition, he also mentioned unresolved e-commerce issues but did not elaborate further. He simply stated that the ministry will not approve the entry application and will not allow it to stifle local industries. On the same occasion, the Director General of Domestic Trade at the Ministry of Trade also denied rumors that Temu would partner with Bukalapak to enter Indonesia. Recently, there have been rumors that the Chinese e-commerce app Temu intends to acquire PT B
Experts Believe Prabowo Will Still Prioritize Chinese Investment
A senior advisor at Lab 45 predicted that President-elect Prabowo will follow in the footsteps of his predecessor, President Joko Widodo, after taking office. One thing worth emphasizing is the issue of investment; he believes Indonesia's eighth president will still pay attention to investment from China. If he predicts what Prabowo will do, geopolitical dynamics will bring funds into Indonesia, but still from China, still from petrodollars. Even so, he believes that Prabowo will not follow Joko Widodo's approach regarding Saudi Arabia or the UAE; he estimates that Prabowo will seek more investment from Qatar. However
Indonesian Industry Reacts to Anti-Dumping Duties on Chinese Ceramic Imports
Indonesia has officially imposed additional anti-dumping import duties (BMAD) on ceramic tile products imported from China. This policy was determined by the Minister of Finance through the issuance of Minister of Finance Regulation (PMK) Number 70 of 2024 concerning the imposition of anti-dumping import duties on ceramic tile products imported from China. The PMK was signed by the Minister of Finance on October 9, 2024, and takes effect 10 days after its promulgation on October 14, 2024, specifically on October 24, 2024. The PMK is valid for 5 years. The General Chairman of the Indonesian Ceramic Industry Association (ASAKI) stated that the introduction of BMAD will mark the beginning of the revival of the national ceramic industry, which has suffered severe damage over the past decade due to dumping practices, leading to the closure of many factories and a decline in the utilization rate of national ceramic products. Meanwhile, the BMAD rate did not reach the 100% figure predicted a few months ago. Although the set BMAD rate is only around 35% to 50%, Asaki remains positive, noting that this is still lower than the hoped-for rate of over 100%, as seen in other countries like Mexico and the United States. The current hope of business participants is to extend the safeguard import duties so that they can take effect on schedule in November to complement the BMAD percentage.