Business and Investment
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Government approves an extra IDR 15 trillion budget to boost IKN development
The House of Representatives’ Budget Agency has given its approval for an extra IDR 15 trillion (US$1.01 billion) for the Nusantara Capital City (IKN) development.
Government implements ban on bauxite ore exports to boost domestic industry
President Joko 'Jokowi' Widodo's administration has taken a decisive step by closing the door on bauxite ore exports starting from June 10, 2023. The main intention of ban on bauxite export is driving growth of the bauxite processing and refining industry within the country. This move is in line with the provisions of Law No. 3 of 2020 concerning Mineral and Coal Mining (UU Minerba).
Bukit Asam implements advances in sustainable energy initiatives with solar power plants
PT Bukit Asam Tbk, a member of MIND ID, has announced its plans to implement Solar Power Plants (PLTS) on a number of its former mining sites in Sumatra and Kalimantan as part of its wider diversification program to sustainable energy.
Google initiative aims to foster AI technology development and resources for startups
Google has unveiled its Google for Startups Cloud Program, which promises to provide a substantial financial boost to Indonesian startups employing artificial intelligence (AI) technology.
Pertamina secures US$7.2 billion funding for Balikpapan refinery project
PT Pertamina has successfully secured a substantial funding of US$7.2 billion to support the Balikpapan Refinery Development Master Plan (RDMP) project.
Masela Block: Shell to transfer 35 percent stakes to Pertamina by June
Energy and Mineral Resources Minister Arifin Tasrif announced that the sales and purchase agreement (SPA) for a 35 percent participating interest in the Masela Block between Shell Upstream Overseas Ltd and PT Pertamina is set to be finalized by the end of June. Both parties have successfully reached a consensus.
Indonesia's Satria satellite set to revolutionize internet connectivity and drive economic growth
The Satria satellite (Satelit Republik Indonesia) of the Indonesian Government will be launched from Cape Canaveral, Florida, United States of America on June 17, 2023. The launch is part of a strategy to realize the government's vision to make Indonesia's the fifth country with the largest Gross Domestic Product by 2025.
Indonesian government works on EV regulations and boosts charging infrastructure
The Ministry of Energy and Mineral Resources is currently revising the regulations on electric vehicles to facilitate the establishment of charging stations and reduce charging costs.
Legrand Indonesia host the Data Center Summit 2023 and launch its latest electrical switchboard product
Legrand Indonesia, the global specialist in electrical and digital building infrastructure, hosted Legrand Day 2023, a two-day event on 7th and 8th June 2023, comprising of three remarkable events, including the Data Center Summit 2023, Gathering and Awarding Night, and the launch of Legrand XL3DO Electrical Switchboard.
The urgent need for solar cell recycling solutions in Indonesia
The Indonesian government emphasized that it will remain focused on achieving Net Zero Emissions (NZE) through increasing the energy mix and using new renewable energy (NRE) such as solar cells. However, the government is yet to devise a recycling and sustainability schemes for used solar cells.
Investment delays in IKN projects attributable to slow infrastructure development
Despite having received 220 Letters of Intent (LoI) from prospective investors, no actual investments have been channeled to the Nusantara Capital City (IKN) project. The delay can be attributed to slow development of essential basic infrastructure, which is the key responsibility of the government.
Six companies launch operations in Batam, investing US$800 million, and creating 13,000 jobs
Coordinating Minister for Economic Affairs Airlangga Hartarto officially inaugurated the operations of six renewable energy companies in the Wiraraja Industrial Zone in Batam, on Monday (5/6).