Business and Investment
Get the latest business insights and discover high-potential opportunities in emerging markets that are redefining Indonesia’s economic landscape.
Bakrie and Shanghai-based Envision to develop Net Zero Industrial Park in South Sulawesi
Envision Group founder and CEO Lei Zhang has confirmed that Envision, in partnership with PT Bakrie & Brothers Tbk (BNBR), will embark on the development of a Net Zero Industrial Park in South Sulawesi, dedicated to nickel processing. The joint venture between the two companies involves a substantial investment of US$9 billion.
Hyundai begins building EV battery assembly plant in Cikarang Bekasi
PT Hyundai Energy Indonesia held a groundbreaking ceremony for its electric vehicle assembly plant located in the Greenland International Industrial Center (GIIC) in Cikarang Bekasi Regency on Wednesday (31/5). The plant is scheduled to start operations in March 2024.
BUMI Resources secures new strategic partner for coal downstreaming project
PT Bumi Resources Tbk. (BUMI), a subsidiary of Bakrie Group, has recently obtained a new strategic partnership from China for the development of downstreaming its coal products, specifically in the ammonia sector.
Blue Bird considers China’s BYD over Tesla as EV supplier
PT Blue Bird Tbk plans to procure the majority of its future electric vehicle (EV) fleet from China’s BYD, the world’s second-largest manufacturer of EVs, after US-based Tesla. This decision was made after Blue Bird conducted negotiations with BYD and Tesla.
New investment in domestic EV battery production to boost Indonesia's economy
Investment totaling IDR 134.7 trillion will be directed towards the production of electric vehicle (EV) batteries within the country, according to Minister of Investment Bahlil Lahadalia.
Government increases ownership as Freeport divests another 20% of shares
The Indonesian government’s efforts to increase share ownership in PT Freeport Indonesia (PTFI) have paid off. Freeport McMoran CEO Richard Adkerson and PTFI CEO Tony Wenas agreed to release another 20 percent stake in the mining company to the government.
West Nusa Tenggara to build Indonesia’s first renewable energy region-owned company
The province of West Nusa Tenggara (NTB) is set to pioneer the establishment of Indonesia’s inaugural Regional Owned Company (BUMD) engaging in the renewable energy sector.
Indonesia plans to halt LNG exports to meet domestic demands
The Indonesian Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, revealed the government's plan to cease the export of liquefied natural gas (LNG) due to the rising demand from domestic industries.
Volkswagen to conduct feasibility study for US$5 billion plant in Indonesia
German car manufacturer Volkswagen (VW) intends to conduct a feasibility study in the coming months for the establishment of an US$5 billion-electric vehicle (EV) battery plant in Indonesia, a senior government official said.
Government forms Indonesian Carbon Capture and Storage Center (ICCSC) to drive carbon capture technology implementation storage
Indonesia aims to become a regional hub for carbon capture and storage (CCS) with the launch of the Indonesia Carbon Capture and Storage Center (ICCSC). The ICCSC is a new organization that develops innovative solutions for CCS development, energy transition acceleration, and optimal climate development.
Assessing Pertamina’s investment plan in the Mansouri Block amidst the US-Iran embargo
Iranian President Seyyed Ebrahim Raisi’s inaugural visit to Indonesia on May 23-24 reopened the memorandum of understanding (MoU) that had been signed by both countries in 2016 regarding PT Pertamina (Persero)’s investment plans to manage the Mansouri oil and gas block in Iran.
Jokowi reopens sea sand exports after a 20-year ban, drawing criticism from environmentalists
Indonesian President Joko “Jokowi” Widodo issued Government Regulation (PP) No. 26 of 2023 concerning the Management of Sedimentation Products in the Ocean (PP 26/2023).