#Trade
Mayora explores and attempts expansion of its market to Nigeria
PT Mayora Indah Tbk (MYOR) is trying to explore and expand its market to Nigeria, West Africa, through Mayora Nigeria Ltd.
Indonesian MSMEs concerned over Project S TikTok Shop expansion as regulation protection non-existent
The surge of imported retail products through market platforms or social media (social commerce) is causing concern among micro, small, and medium-sized enterprises (MSMEs).
TikTok social commerce market predicted to reach US$ 2.9 trillion
A recent report indicates that the social commerce market for TikTok Shop is estimated to reach US$2.9 trillion globally by 2026, equivalent to around IDR 44,000 trillion. Meanwhile, e-commerce transactions in Indonesia are predicted to range from US$77 billion to US$130 billion by 2026.
TikTok Project S pushes the government to establish special digital task forces
TikTok's Project S initiative had previously raised concerns within the government, as it was feared that it might disrupt business competition, especially among small and medium-sized enterprises (UMKM). Consequently, the government is preparing to establish two digital task forces.
Government prepares incentives for exporters in relation to new foreign exchange policy
Following the recent policy on mandatory deposit of foreign exchange originated from export, the government is planning to provide more appealing incentives for exporters who complied with the policy.
Krakatau Steel export 30,000 tons of steel to Italy, records highest surplus in Indonesia's history
The largest state-owned steel company in Indonesia, PT Krakatau Steel (Persero) Tbk, successfully exported 30,000 tons of Indonesian steel to the Italian market. Steel commodity is currently the third largest export commodity in Indonesia.
Government obliges exporters to deposit foreign exchange earnings domestically for 3 months at least
The government is preparing several implementing regulation for Government Regulation No. 36 of 2023 concerning Foreign Exchange from Natural Resources Exports (DHE) (PP 36/2023), which replaces Government Regulation No. 1 of 2019.
Minister of Trade expects US$ 11 billion transaction value from Trade Expo Indonesia event
The Ministry of Trade aims to achieve US$11 billion or around Rp 167 trillion in transaction value at the Trade Expo Indonesia (TEI) 2023. The hybrid format of this expo is claimed to be able to help with the achievement of the target.
Jokowi visits South Korea, Japan to boost investments, hinders future conflicts
Indonesian President Joko "Jokowi" Widodo made a series of visits to East Asian countries to boost investments and hedge future conflicts. Widodo and his entourage started their visit to China followed by Japan and South Korea.