Business and Investment
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OJK: Investment in Indonesian startups plummets 87% in H1 2023
The Financial Services Authority (OJK) reveals that investment in Indonesian startups witnessed a staggering 87 percent year-on-year decline, plummeting from US$ 3.3 billion to a mere US$400 million or approximately IDR 6.3 trillion during the first semester of 2023.
Raw material shortage threatens local tire production
Indonesia's domestic tire industry is entering a challenging period, marked by the potential closure of the South Korean tire factory, Hung-A, in Cikarang industrial complex, West Java.
B.Braun installs solar power plant for 25 percent emission reduction
German pharmaceutical manufacturer B.Braun Indonesia has launched a 1.2 MWp solar power plant (PLTS) at its pharmaceutical factory in Karawang, West Java.
Industry ministry targets manufacturing exports at US$193.4 billion in 2024
The Ministry of Industry aims for a manufacturing export performance growth of US$193.4 billion in 2024, an increase from realization of US$186.98 billion in 2023 that contributed 72.24 percent to the total national export value of US$258.82 billion. Still the 2024 export target is 9.26 percent lower than the US$206.07 billion achieved in 2022.
ESDM: Electricity oversupply in Java-Bali drops to 4 GW in 2023
The Ministry of Energy and Mineral Resources (ESDM) has recorded a significant decrease in electricity oversupply in Java-Bali region, to 4 gigawatts (GW) by the end of 2023, a substantial reduction from the 7 GW recorded at end of 2022.
SKK Migas targets US$ 1.8 billion exploration investment in 2024
Indonesia's upstream oil and gas regulatory task force, SKK Migas, is eyeing a substantial boost in exploration investments, targeting US$ 1.8 billion in 2024, equivalent to around IDR 28 trillion.
Link Net explores US$ 500 million fundraising for business expansion
PT Link Net (LINK), a prominent player in Indonesia's telecommunications sector, is considering a strategic move to sell shares in its fiber business, aiming to secure a substantial fund infusion of US$ 500 million (IDR 7.8 billion).
Potential discovery of lithium, boron deposits in Java
The Geological Agency of the Ministry of Energy and Mineral Resources has identified promising lithium and boron mineral potentials in several regions on the island of Java.
Indonesia still holds vast nickel potential with 1.2 million hectares untapped
The Ministry of Energy and Mineral Resources' Geological Agency reports that Indonesia has a land area of 2 million hectares with nickel potential, out of which only 800,000 hectares have been mined or exploited.
Awaiting Luhut's expertise to realize nuclear power plants in Indonesia
The establishment of the Nuclear Energy Program Implementation Organization (NEPIO) to accelerate the development of nuclear power plants (PLTN) in Indonesia is awaiting approval from President Joko Widodo (Jokowi), a senior official said, Djoko Siswanto, Secretary-General of the National Energy Council (DEN), stated that the formation of NEPIO is a requirement from the International Atomic Energy Agency (IAEA) for Indonesia to develop PLTN.
Pertamina Intl Shipping to have 15 more ships for business strengthening
PT Pertamina International Shipping (PIS), a Pertamina subsidiary engaged in integrated logistics and shipping, has ordered 15 medium-sized ships (40-50,000 deadweight) from Hyundai Mipo Dockyard, Ulsan, South Korea.
Minister of Energy issues warning over Vale's prolonged divestment
Minister of Energy and Mineral Resources, Arifin Tasrif, urges the swift completion of the remaining divestment obligations of PT Vale Indonesia (INCO) as a prolonged divestment process by its foreign shareholders will make the Indonesian government to explore alternative options.