Business News
Indonesia Taps Seasoned Banker to Manage Multibillion-Dollar Sovereign Wealth Fund
President Joko “Jokowi” Widodo has introduced the board of directors tasked with managing Indonesia’s recently created multibillion-sovereign wealth fund, tapping a seasoned banker to lead it, as the country aims to lure global investors to Southeast Asia’s largest economy. Ridha DM Wirakusumah, until recently the president director of private lender…
Indonesia Sets Up Two More Special Economic Zones
The Indonesian National Council for Special Economic Zones has approved two new special economic zones (SEZs), namely the Lido in West Java and the Java Integrated Industrial Ports and Estate (JIIPE) in East Java. Indonesian coordinating minister for economic affairs Airlangga Hartarto explained, Lido would be a tourism SEZ with…
Indonesia to Give Tax Incentives for Sales of Some Cars
Indonesia will temporarily remove a luxury tax on sales of some cars to bolster its automotive industry, which has been badly hit by mobility restrictions to contain the coronavirus epidemic, its economic ministry said. From March to May, the government will remove a luxury tax for sales of sedans and…
Indonesia Books Trade Surplus Again Amid ‘Concerning’ Import Decline
Indonesia has again logged a trade surplus in a trend that began in May last year as commodity prices have picked up while the COVID-19 pandemic has battered demand for imported goods. According to data published by Statistics Indonesia (BPS) on Monday, Indonesia booked a surplus of US$1.96 billion in…
