Business and Investment
Get the latest business insights and discover high-potential opportunities in emerging markets that are redefining Indonesia’s economic landscape.
SATRIA 1 satellite launched succesfully by Indonesia bridging the digital gap
Satelit Republik Indonesia 1 (SATRIA 1) has been successfully launched and placed into its designated orbit. The satellite was carried into space by a Falcon 9 rocket, operated by SpaceX, the company owned by Elon Musk.
Traveloka joins UNWTO as an affiliate member pledges commitment to sustainable tourism
Traveloka, the leading online travel platform, has officially joined the United Nations World Tourism Organization (UNWTO) as an affiliate member, making it the only Southeast Asian travel platform to be affiliated with UNWTO. The announcement was made during the UNWTO Conference in Phnom Penh, Cambodia.
Bauxite companies halted production as existing smelters unable to absorb products
Several bauxite mining companies are suspending its production following the recent export ban on bauxite by the government. Bauxite produced by mining companies are being stockpiled and cannot be processed further by smelters.
Indonesian government set deadline for Vale divestment
The Ministry of Energy and Mineral Resources has set a deadline for PT Vale Indonesia Tbk (INCO) until the end of 2024 to submit a proposal for divestment price.
TikTok's US$ 12.2 million investment empowers Southeast Asian MSMEs in digital transition
TikTok has allocated a substantial investment of US$ 12.2 million to assist over 120,000 micro, small, and medium enterprises (MSMEs) in Southeast Asia with their transition to online businesses and participation in the digital economy.
Pertamina secures US$ 3.1 billion needed funding to improve Balikpapan Refinery Project and enhance fuel quality
Pertamina has received funding credit support worth US$ 3.1 billion or the equivalent of Rp. 46.15 trillion from the Export Credit Agency (ECA) and several commercial financial institutions for the completion of the Refinery Development Master Plan (RDMP) project for the Balikpapan Refinery.
Top provinces with highest investment realization in Indonesia
The Investment Ministry recorded that the investment realization in Indonesia throughout 2022 had reached IDR 1,207.2 trillion, a 34% increase compared to the previous year (year-on-year/yoy).
TikTok CEO plans on investing in Indonesia
TikTok CEO Shou Zi Chew confirmed that the content creation platform company will be making investments in Indonesia. TikTok is said to have plans to make US$ 10 billion investment, which equals to IDR 149.5 trillion.
KORIKA, Open AI to develop an AI with Indonesian values
During a “Conversation with Sam Altman” event on Wednesday (14/6), The Head of the Artificial Intelligence Industry Research and Innovation Collaboration (KORIKA), Hammam Riza, has announced a partnership with OpenAI to develop an artificial intelligence (AI) system that aligns with the values of the Indonesian nation.
Pertamina secures 65% stake in Algerian oil refinery to enhance national energy security
In effort to fulfill national energy needs and achieve energy security, state-owned oil and gas company Pertamina had been actively seeking energy sources both domestically and internationally.
Positive financial performance of state-owned enterprises (BUMN) drives growth
State-Owned Enterprises in the financial sector had provided the largest contribution to revenue generated by government-owned companies in the year 2022.
IBC: UK welcomes Indonesian EV battery minerals despite obstacles from the US and Europe
The Indonesian government is making efforts to secure a limited free trade agreement (FTA) with the US and the EU. These efforts have intensified recently in order to secure access to critical minerals for Indonesia in the two largest electric vehicle (EV) markets.