A plan to ban the export of copper concentrate starting June has sparked concern among businesses over the readiness of domestic industries to absorb the product.

Indonesia’s private sector has set out to make Southeast Asia the center of gravity in a world struggling for economic and political direction.

The Nusantara Capital City (IKN) Authority was caught off-guard by huge investment interest in the project as multiple sectors swarmed for inquiries.

Bureaucratic hurdles, in particular the lack of regional regulations, still remained the greatest obstacle to investment projects despite the sweeping reforms made through the Job Creation Law, the government told regional leaders at Tuesday’s Rakornas.

The domestic banking industry is still reluctant to jump on the ESG financing bandwagon, citing challenges across the board in adopting the global principles, despite the OJK publishing a sustainability plan as far back as seven years ago.

Zero-percent coal royalty may not suffice to answer Indonesia coal downstream ambitions with said there were many unnoticed challenges that the government may need to take into account. 

Commodities Minister Fadillah Yusof said Malaysia and Indonesia would discuss the law, which bans sale of palm oil and other commodities linked to deforestation unless importers can show that production of their specific goods has not damaged forests.

The Labor Party said the formula for minimum wage in the regulation did not follow international standards as the government included “certain indexes” variables that were not stated in the International Labour Organization (ILO).

Manpower Minister Ida Fauziyah said the government regulation in lieu of law (Perppu) on job creation would increase employment and maintain business sustainability. 

Businesses have expressed their disagreement with the new outsourcing policy stipulated in the recently issued government regulation in lieu of law (Perppu) on job creation.

Now that the product’s retail price will follow the contours of global oil prices, Pertamina is expected to sell Pertamax at rates closer to other brands. 

Both laborers and businesses have expressed their concerns over government regulation in lieu of law (Perppu) on job creation, with the issue of minimum wage remaining contested.  

Indonesia will tighten export rules for palm oil from Jan. 1 by allowing less shipments overseas for every tonne sold domestically, to ensure sufficient and affordable cooking oil supply at home.

The issuance of a government regulation in lieu of law (Perppu) on job creation will convey positive impacts on economic activities this year, experts say, as it can act as a catalyst to improve Indonesian business climate which eventually leads to a healthier investment growth.

The government issued a new rule concerning provisions of origin of goods and provisions for issuing documents of origin for goods exported from Indonesia, as a follow-up to the recently ratified Regional Comprehensive Economic Partnership (RCEP) agreement.

The Constitutional Court last year ruled that the passage of the president's vaunted Jobs Creation Law was flawed due to inadequate public consultations and ordered lawmakers to restart the process within two years.

The Industry Ministry has laid out plans to boost state revenue from manufacturing in 2023, claiming the sector could grow up to 5.4 percent next year despite weak international demand for Indonesia’s non-commodity goods.

The Customs and Excise Office has released a statement on a new ministerial regulation that becomes active on Jan. 1, 2023, as part of the government's efforts to simplify export procedures and boost trade.

The government will discontinue subsidies for commuter line train (KRL) tickets for middle- to upper-income passengers, in a bid to reduce the burden on the state budget, while allowing policymakers to target the funds for lower- to middle-income users, as well as less favored regions.

Incentives allocation to boost the adoption of electric vehicles (EVs) must focus on the types of vehicles that dominate the population in Indonesia, considering the country’s limited fiscal capacity.

Bank Indonesia (BI) will introduce a new policy for local banks to match interest rates offered by foreign lenders, in a move to persuade exporters to keep their foreign exchange (forex) earnings at home in order to beef up the country’s reserves and maintain the rupiah’s stability.

Bank Indonesia (BI) has again raised its interest rates, albeit by its lowest increment since it started the series of hikes in August, as policymakers forecast an easing in external pressure in 2023.

An agreement between the government and Bank Indonesia (BI) to collaborate on financing the deficit will end this year, as the Finance Ministry promises not to extend the policy to 2023, following greatly improved economic and pandemic conditions that make such measures less urgent for the near future.

Despite facing many possible setbacks throughout 2022, Indonesia is still poised to accomplish its fiscal-consolidation plan in time, providing the country with a better foothold to withstand whatever looming global uncertainty will throw against it next year.

A newly ratified omnibus law on the financial sector will formalize Bank Indonesia’s (BI) role in helping to finance the fiscal deficit in times of crisis, which economists believe could undermine the central bank’s independence and the government’s efforts to maintain fiscal discipline.

Indonesian government is finalizing an incentive scheme for the purchase of electronic vehicles (EVs) produced by manufacturers inside the country, in a bid to force industry players into realizing their investment.

Indonesia's parliament on Thursday voted to approve financial legislation that widens the central bank's mandate to include supporting sustainable economic growth and formalize its debt monetization operations.

After all-night negotiations, the European Union struck a political deal on Tuesday to impose a carbon dioxide emissions tariff on imports of polluting goods such as steel and cement, a world-first scheme aiming to support European industries as they decarbonize.

The WTO panel ruled in favour of the EU last month, saying that neither the prohibition of nickel exports nor a domestic processing requirement requiring all nickel ore to be refined in Indonesia were in line with global trade rules, prompting President Joko "Jokowi' Widodo to say that his country would appeal the ruling. 

Russia will be invited to attend meetings of the Asia-Pacific Economic Cooperation (APEC) bloc hosted by the United States next year, a US official said on Monday.