#Corporate
Government regulation in lieu of job creation law faces criticism
President Joko "Jokowi" Widodo signed the government regulation in lieu of law (Perppu) on job creation on December 30, 2022, due to "several urgent reasons", including to anticipate the global economic condition.
Bauxite ores export ban likely to attract more investments
The government's ban on the bauxite ores export is likely to increase investments in the bauxites processing and refining industry. Economist at the Yogyakarta-based Gadjah Mada University Fahmi Radhi said one of the challenges faced by the government after the ban would be the limited bauxites smelters capacity.
Special Autonomy Fund not enough to bring prosperity for Papuans
The Special Autonomy Fund has failed to become a push factor to eliminate the so-called natural resources curse in Papua and West Papua provinces. The fund has been used to increase gross domestic product but it did not improve other sectors especially education, health sanitation and forest condition in those provinces.
Luhut Pandjaitan's statement on KPK's caught red-handed operation sparks controversy
Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan considered the Corruption Eradication Commission (KPK)'s caught red-handed operation (OTT) has given a negative perception to the state. He said state officials were exposed to the antigraft body's caught red-handed operation because the state has not utilized the digital system to improve financial management at the regional and national levels.
Government to ban bauxite ores export starting June 2023
President Joko "Jokowi" Widodo announced that Indonesia would start banning the export of bauxite ores starting June 2023 to encourage the development of bauxite processing and refining industry at home. His statement came days after Indonesia filed an expected appeal against a World Trade Organization (WTO) panel ruling that was in favor of the European Union (EU) in a dispute over the ban on nickel ore exports.
Pertamina Hulu Energy, Pertamina Geothermal Energy to go public
The Ministry of State-Owned Enterprises has planned to launch an IPO for two state oil and gas giant PT Pertamina's subsidiaries, namely PT Pertamina Hulu Energy (PHE) and PT Pertamina Geothermal Energy (PGE).
Ministries have split opinions on Freeport smelter progress and export tax reduction
Gold and copper mining giant PT Freeport Indonesia (PTFI) has yet to receive export tax reduction for their copper concentrate export as Indonesian ministers have not agreed on the percentage of the company's smelter progress in Gresik, East Java.
G20 electric vehicles are up for sale with a discount and allocated for government needs
The electric vehicles used for the G20 Summit in Bali in November 2022 are currently being sold at a discounted price or allocated for other government needs. Indonesia has committed to switch from fossil fuels to renewable energy by using electric vehicles - cars, motorcycles and buses - for the event’s mobility needs.
China controls Indonesia's nickel industry
China has dominated Indonesia's nickel industry, according to a lawmaker and an observer. A member of the House of Representatives' Commission VII overseeing energy and mineral resources and industry, Zulfikar Hamonangan, probed Minister of Energy and Mineral Resource Arifin Tasrif in a hearing that 90% of nickel mines in Indonesia was under China's control.
10 largest oil palm plantations in Indonesia
Indonesia is the world’s largest producer of palm oil, producing around 46.2 million metric tons in 2021 alone. Being the largest producer, consequently Indonesia has the largest oil palm plantations, especially in Sumatra and Kalimantan islands.
German businesses see diversification is key, not decoupling from China
German businesses attending the 17th Asia-Pacific Conference of German Business (APK) in Singapore on November 13-14, 2022, have seen that decoupling from China is not the right way to deal with the country’s dependency to one particular country.
PT PAL to buy Scorpene submarines from Naval
State-owned shipbuilder PT PAL Indonesia and French defense company Naval Group are under negotiation on several issues in the purchasing of Scorpene submarines. A source from Naval told Indonesia Business Post that the discussion was focusing on the number of Scorpene submarine that will be purchased and the price of a submarine unit.