Business News
Customs and Excise Revenues Up 6.8% to Rp 183.2 Trillion by August, Driven by Copper Exports
As of August 31, 2024, the government collected Rp 183.2 trillion ($12 billion) in customs and excise revenues, achieving 57.1% of the target set in the 2024 State Budget, and marking a 6.8% increase from last year. Deputy Finance Minister Thomas Djiwandono reported that import duties reached Rp 33.9 trillion,…
Footwear industry can boost Indonesia's economy, says official
Indonesia's footwear industry has the potential to significantly boost the nation's economy, according to Riefky Yuswandi, Secretary of the Directorate General of Small and Medium Industries at the Ministry of Industry. As of the second quarter of 2024, the industry grew by 3.92% compared to the same period last year.…
Foreign Investment in IKN Breaks Ground as China Commits IDR 500 Billion
Delonix Group, a prominent international company in the global tourism sector, is set to become the first foreign investor to directly contribute to the mega project of Nusantara’s new capital city (IKN). Troy Pantouw, the spokesperson for the Nusantara Capital Authority (OIKN), announced that the China-based company will undertake a…
Jokowi: Gresik Smelter Investment to Boost National Revenue by IDR 80 Trillion
President Joko Widodo (Jokowi) announced that the investment in PT Freeport Indonesia’s smelter plant in Gresik, East Java, is projected to increase national revenue by IDR 80 trillion. "Based on my calculations, the state will receive around IDR 80 trillion from PT Freeport Indonesia," said President Jokowi during the inauguration…
