#Corporate
Indonesian major tycoons set to invest in new capital city development projects
Domestic investors are showing a growing interest in investing in the Indonesian Capital City (IKN). This enthusiasm involves ten prominent entrepreneurs with a combined investment value of IDR 20 trillion.
Illegal textile imports continue to flood Indonesian market, crippling local businesses
Indonesian textile businesses are expressing concerns about the ongoing influx of illegal textile imports from China.
MIND ID demand Vale Canada and Sumitomo to terminate block voting agreement before proceeding with divestment
PT Mineral Industri Indonesia (MIND ID) is urging Vale Canada Limited (VCL) and Sumitomo Metal Mining (SMM) to terminate their block voting agreement before finalizing the continued divestment of PT Vale Indonesia shares.
Goods under US$ 100 can still be traded on online marketplaces under several requirements
Teten Masduki, the Minister of Cooperatives and Small and Medium Enterprises (SMEs), has stated that traders can still sell imported goods under US$100 on online marketplaces. However, he emphasized that there are conditions that need to be met.
Indonesia's Geological Agency to unlock vast rare earth metal potential in Sulawesi, proposing new mining concessions
The Geological Agency of the Ministry of Energy and Mineral Resources will propose a mining business permit area concession (WIUP) for rare earth minerals in Mamuju, West Sulawesi and work with a number of companies to manage this mining area.
Freeport Indonesia seeks fairer resolution in dispute over new export duty regulations
Freeport Indonesia could file a lawsuit regarding the new regulation on Indonesian export duties due to objections to its provisions.
Mining businesses express concerns over mandatory foreign exchange placement in domestic bank
Coal mining businesses are expressing their concerns about the government's new policy regarding the foreign exchange export earnings (DHE) regulations.
PT Vale Indonesia divestment continues as government willing to give control over operational activities
The divestment of PT Vale Indonesia's shares to the government is yet to reach an agreement. The nickel mining company must sell its shares again so that its Special Mining Business License (IUPK), which expires in 2025, can be extended in Indonesia.
Indonesian government urges oil palm entrepreneurs to enhance transparency and reporting for a sustainable palm oil industry
Oil palm entrepreneurs in Indonesia are advised to report data related to their oil palm plantation area to the Indonesian Government in order to improve palm oil industry governance and optimize state revenue.
Officials from government institutions and businessmen caught in ilegal IMEI network with state losses reaching IDR 353 billion
A number of institutions and individuals were stated to be involved in the case of illegal International Mobile Equipment Identity (IMEI) with a total state loss of IDR 353 billion.
Challenges remains for carbon exchange implementation in September, calling for a stronger regulation and supervision
The implementation of the carbon exchange in September 2023 will experience a number of challenges that must be corrected in terms of regulation and supervision.
OJK plans to increase minimum paid-up capital requirement for insurance companies
The Financial Services Authority (OJK) is set to introduce new regulations regarding the minimum capital requirements for insurance and reinsurance companies, both conventional and Sharia-compliant.