Business and Investment
Get the latest business insights and discover high-potential opportunities in emerging markets that are redefining Indonesia’s economic landscape.
QRIS raises the bar on competition between digital wallets and banks
The competition in the digital wallet (e-wallet) industry is entering a new phase. The introduction of the Quick Response Code Indonesian Standard (QRIS) payment system is making the competition landscape more complex, as this instant payment feature is also being developed by banks.
Wood Mackenzie predicts Indonesia would be a gas importer by 2040 amid growing demand
Wood Mackenzie, an Energy Consultant from the United Kingdom projects that Indonesia would become a gas importer starting in 2040.
Indonesia and Hong Kong ink 16 MoU on strengthening business relations
The Indonesian Government and the Hong Kong Special Administrative Region (HKSAR) has signed 16 memorandum of understanding (MoUs) to strengthen business relations between the two parties in various sectors, including finance, aviation, and technology.
IKN receives IDR 40 trillion funding from domestic investors, groundbreaking scheduled for September 2023
Bahlil Lahadalia, the Minister of Investment, said that private investors will conduct a groundbreaking project for the State Capital (IKN) in September 2023, with a total fund of up to IDR 40 trillion.
Pertamina and Posco jointly manage Bunga working area for the next 30 years, boosting Indonesia's oil and gas exploration
PT Pertamina Hulu Energi (PHE) North East Java and PT Posco International ENP Indonesia (Posco ENP) have signed to manage the Interest Working Area (WK) for the next 30 years.
Thales committed in developing smart city IKN focusing on cyber security, data centers and others
Thales Group, a global technology company from France and the National Capital Authority (OIKN) of Indonesia have signed a Memorandum of Understanding (MoU) on July 25, 2023, for the development of a smart city in IKN.
Bank Indonesia announces progressive rates for QRIS transaction fees, boosting digital economy and financial inclusion for micro traders
Bank Indonesia (BI) will impose progressive rates on the Quick Response Code Indonesian Standard (QRIS) for transaction fees for micro traders.
ENI secures 82% participating interest in Indonesia Deepwater Development (IDD) project, securing the oil and gas potential
Ente Nazionale Idrocarburi (ENI), an oil and gas company from Italy, will become the new operator of the Indonesia Deepwater Development (IDD) project with an 82% stake.
Indonesia's vast Natuna D-Alpha gas field and 2 others to be auctioned until November 2023
The Natuna D-Alpha, Panai and Patin Working Areas (WK) will be auctioned off by the Ministry of Energy and Mineral Resources (ESDM). The bidding process of the work areas will end on November 2023.
PLN commits to drive energy transition through Hijaunesia and Hydronesia megaprojects
Indonesian state-owned electricity company PLN, through its subsidiary PLN Indonesia Power (PLN IP), is leading the Hijaunesia and Hydronesia megaprojects to drive Indonesia's energy transition. These projects aim to increase renewable energy capacity by 8.1 gigawatts (GW).
Thousands of Indonesian exporters begin to move away from US Dollar, prefer local currency
Bank Indonesia has reported an increasing number of Indonesian exporters and importers abandoning the use of the US dollar for international trade transactions. Instead, these business operators are taking advantage of the local currency transaction (LCT) arrangements with four countries.
Indonesian state-owned enterprises spearheading hydrogen collaboration for a green future despite shortcomings in its roadmap
Indonesian state-owned enterprises (SOEs) are currently taking the lead to forge significant collaboration with various stakeholders to develop and utilize hydrogen for clean and sustainable energy sources.