Ambassador Wang Lutong Attends the First Anniversary Celebration of the Jakarta-Bandung High-Speed Railway Operation
On October 17, Ambassador Wang Lutong attended the celebration of the first anniversary of the official operation of the Jakarta-Bandung High-Speed Railway and the 9th anniversary of the establishment of PT Kereta Cepat Indonesia China (KCIC) and delivered a speech. Present at the event were Indonesian Minister of Transportation Budi, Deputy Minister of Manpower Nur, KCIC President Director Dwiyana, and PT Kereta Api Indonesia (KAI) President Director Didik. In his speech, Ambassador Wang stated that under the personal attention of the two heads of state and the joint efforts of the builders and operators of the China-Indonesia high-speed railway, the Jakarta-Bandung High-Speed Railway has been operating safely, efficiently, and continuously, with its comprehensive benefits gradually emerging. The successful operation of this railway not only symbolizes
Newly appointed Chinese Ambassador to Indonesia Wang Lutong arrives in Indonesia to assume duties
Land prices in Indonesia's new capital may surge tenfold next year
Indonesia Trade Fair Export Value Reaches IDR 476 Trillion
Midea Launches New Energy-Efficient Air Conditioners for the Indonesian Market
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
Southeast Asia's GDP Reaches USD 3.4 Trillion, Becoming a Strong Economy
From 2010 to 2022, the average economic growth rate of the Southeast Asian region was 4.4%, and the region is also considered a new force in the global economy. The Deputy Managing Director of Drewry Maritime Services Asia Pte Ltd stated that the Southeast Asian region maintains stable growth every year, with an increase of over 4%. With this growth, Southeast Asia's Gross Domestic Product (GDP) has reached USD 3.4 trillion. Looking to the future, growth expectations are very good, and they expect growth across Southeast Asia to be well above 4%. Southeast Asia is one of the largest economies in the world; in fact, over the past 15 years, Southeast Asia's GDP growth has exceeded 4%.
Reasons Why Indonesian Customs Opens and Inspects Travelers' Luggage
Officials from the Directorate General of Customs and Excise have frequently inspected the luggage of arriving international travelers, with several cases quickly going viral and becoming the focus of public attention. The Director of User Communication and Guidance at the Customs and Excise Office explained that the task of customs is to enforce regulations delegated by other ministries/agencies. For example, regarding regulations on luggage from abroad, travelers' suitcases must be inspected. Why do travelers have to open their luggage? This is regulated by Minister of Trade Regulation No. 36, which stipulates that individuals returning from abroad can only bring up to two pairs of new shoes (e.g., footwear). He gave an example: a person just returned from Europe and was found carrying certain items regulated by the rules. In such cases, customs needs to inspect the contents of the luggage to ensure the quantity of items brought does not violate regulations.
Experts Urge Indonesian Government to Reassess Jakarta-Surabaya High-Speed Rail
The Director of Public Policy at the Center for Economic and Legal Studies (Celios) believes that the government needs to review the plan to extend the Jakarta-Bandung high-speed rail project to Surabaya in East Java. He argues that the Jakarta-Bandung high-speed rail project requires reflection, as it has encountered numerous problems from planning and construction to current operations. This should serve as a caution for the next government when considering whether to actually build the Jakarta-Surabaya high-speed rail, given the many issues already present in the Jakarta-Bandung line. A researcher at Celios stated that the Jakarta-Bandung high-speed rail project has deviated from its initial development plan.
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
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
Indonesian Government Tightens Standards for Purchasing Subsidized Fuel
The Ministry of Energy and Mineral Resources is drafting regulations to set standards for citizens eligible to purchase subsidized fuel oil (including diesel and Pertalite). While waiting for the regulation to be issued, vehicle owners can register their vehicles online and offline in Pertamina's Appropriate Subsidy Program. According to research by the Downstream Oil and Gas Regulatory Agency and several institutions, the target recipients of Pertalite include motorcycles and four-wheeled vehicles, including private four-wheeled vehicles with engine displacement of 1400 cc and below, commercial four-wheeled trucks, commercial four-wheeled buses, and public service four-wheeled vehicles. For 1400