Markets and Finance
Indonesia told to improve business environment to achieve high-income status
Indonesia must enhance its business environment to accelerate economic growth and escape the middle-income trap, according to Norman Loaiza, Director of the Global Indicators Group at the World Bank Group. Speaking at the launch of the Business Ready (Be Ready) Report, Loaiza highlighted key areas where Indonesia needs improvement to attract investments and foster a dynamic private sector.
BPOM speeds up pharmaceutical salt industry certification to boost production, meet demand
The Food and Drug Monitoring Agency (BPOM) is accelerating the pharmaceutical salt certification process in an effort to establish an independent national pharmaceutical industry and meet domestic needs, by ensuring the readiness of the two authorized pharmaceutical companies in implementing the mandatory Good Manufacturing Practices (CPOB).
OJK pushes for greater public literacy on crypto assets
The Financial Services Authority (OJK) is encouraging increased public literacy on crypto assets in order to deepen investor understanding and encourage the growth of the crypto industry.
INACRAFT 2025 sets transaction target of Rp100 billion
Minister of Micro, Small, and Medium Enterprises (MSMEs) Maman Abdurrahman has set the sales transaction target of Rp100 billion (US$6.3 million) during the Jakarta International Handicraft Trade Fair (INACRAFT) 2025 exhibition which will be held at the Jakarta Convention Center (JCC) on February 5-9, 2025.
IDX removes ACES and PGEO, adds XL Axiata and Indosat in latest index overhaul
The Indonesia Stock Exchange (IDX) has announced that it removed shares of PT Aspirasi Hidup Indonesia (ACES) and PT Pertamina Geothermal Energy (PGEO) from the IDX30 index and brought shares of PT XL Axiata (EXCL) and PT Indosat (ISAT) into the index as replacement.
Indonesia explores cooperation with U.S. to boost trade, overcome import tarrifs
Minister of Trade, Budi Susanto, has revealed that the government is working on bilateral cooperation options with the United States of America to facilitate the flow of Indonesian goods to the American market.
Indonesia imposes global minimum tax to ensure fairer, more competitive system
Minister of Finance, Sri Mulyani Indrawati, has signaled on the implementation of the global minimum tax in 2025 in line with an international agreement signed by more than 140 countries on December 31, 2024.
Anindya Bakrie elected as Kadin chairman for 2024-2029 terms
The National Conference (Munas) of the Indonesian Chamber of Commerce and Industry (Kadin) held at the Ritz-Carlton Hotel in Jakarta on Thursday, January 16, 2025 formally appointed Anindya Novian Bakrie as chairman for the 2024-2029 period, marking the unification of two opposing camps within the business people organization.
ADB agrees on US$92.6M financing for Indonesia's geothermal power expansion
The Asian Development Bank (ADB) signed a US$92.6 million (Rp1.5 trillion) financing agreement with PT Supreme Energy Muara Laboh (SEML) for the development of Indonesia's geothermal power resources.
Salt industry faces challenges, focuses on quality improvement, expansion
The Indonesian Food and Beverage Entrepreneurs Association (GAPMMI) reveals that locally produced salt cannot yet be used in the food and beverage industry, with product damage reaching 60 percent in the production process.
Indonesians’ Paylater debts soar, driving BNPL growth and rising loan defaults
The Financial Services Authority (OJK) revealed that Indonesian Paylater debts jumped by 48 percent from the same period of the previous year to Rp20.5 trillion (US$1.3 billion), while the Buy Now Pay Later (BNPL) receivables in financing companies and banks were recorded at Rp30.36 trillion.
Macroeconomic assumptions for 2024 miss on Target, growth at 5 percent
Minister of Finance Sri Mulyani Indrawati has reported that the realization of the basic macroeconomic assumptions for 2024 completely missed the target set in the 2024 State Budget (APBN), with economic growth in 2024 at 5 percent, lower than initial assumption of 5.2 percent.