Business and Investment
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Local cosmetics market in Indonesia declines amid influx of imports
The local cosmetics market in Indonesia is currently experiencing a significant downturn. The government is now addressing the presence of imported goods on e-commerce and social commerce platforms.
Krakatau Daya Listrik develops solar panel giving impacts on reducing emissions
PT Krakatau Daya Listrik (KDL) has successfully developed solar panel installations with four different mechanisms. This subsidiary of the Chandra Asri Group has installed solar panels in various projects, including industrial and retail.
Pertamina cooperates with Malaysian company to commercialize LNG
A subsidiary of Pertamina, PT Pertamina International Shipping (PIS), PT Davenergy Mulia Perkasa, and Malaysian offshore energy facility provider Bumi Armada Malaysia have signed an agreement for the development and commercialization of liquefied natural gas (LNG) in Indonesia. This agreement was reached on Wednesday, September 13th.
Geely and BYD considering EV investment in Indonesia
Luhut Binsar Pandjaitan, the Coordinating Minister for Maritime Affairs and Investment, revealed that Chinese electric vehicle (EV) manufacturer Geely, and BYD is interested in contributing to the EV ecosystem and development in Indonesia.
Vale Indonesia prepares US$ 9 billion investment for three smelter projects in Sulawesi
PT Vale Indonesia Tbk (INCO) has earmarked US$ 9 billion (IDR 138.3 trillion) for the development of three smelter projects.
EdgeConneX launches data center in Indonesia to tap into growing digital economy
EdgeConneX, a hyperlocal to hyperscale global data center company based in the United States, has inaugurated a data center in Indonesia, specifically in Cikarang, West Java.
VinFast announces ambitious expansion into Indonesia's EV market
Vietnam's electric vehicle manufacturer, VinFast, is set to expand its presence into seven Asian countries, including Indonesia. The company plans to commence sales in Indonesia in 2024 and establish a factory by 2026.
President Jokowi's visit marks progress in Indonesia petrochemical industry, aims to end petrochemical imports by 2027
PT Lotte Chemical Indonesia's (LCI) petrochemical plant in Cilegon, Banten construction progress has reached 73%, with total investment for this ambitious project amounts to US$ 3.9 billion, approximately IDR 59.8 trillion. The construction will soon contribute to the slashing of petrochemical imports by 2027.
Two groundbreaking nickel smelters set to boost prosperity in Kalimantan
In an attempt enhancing industrial capabilities and bolstering the local economy, two state-of-the-art nickel smelters, are planned to be constructed in the province of East Kalimantan, Indonesia. These transformative projects represent a combined investment of IDR 36.5 trillion.
Indonesia aims to lead Southeast Asia in CCS/CCUS technology
The Ministry of Energy and Mineral Resources said that the government is targeting Indonesia to become a center for carbon storage technology in Southeast Asia. This is reflected in President Joko 'Jokowi' Widodo's plans to expand the development of storage technology beyond the upstream oil and gas (oil and gas) sector. However, there are problems that also need to be addressed.
PLN green energy transition gets financial boost from landmark MoU with Export Finance Australia
PT PLN (Persero) is exploring green financing cooperation from Export Finance Australia (EFA) to accelerate the energy transition in Indonesia. This exploration was marked by the signing of an MoU between the two.
Indonesia to export power plant to Singapore, demands 60% domestic component ratio
The Indonesian government has set a requirement for Singapore to accommodate the use of domestic services and goods or domestic component ratio (TKDN) of 60% for the export of 4 gigawatts (GW) of electricity from 2027 to 2035.