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Indonesia Reaches New Heights With Its Trade Surplus Recording a staggering surplus of US$5.16 billion last November, Indonesia has reached 31 consecutive months of trade surplus. With the value of exports exceeding the imports, Indonesia’s trade surplus has grown since May 2020. There is a stark difference in balance that has exceeded expectations. The exports…
Subsidy for EV Buyers to Be Given by the Government The Indonesian Government is taking massive steps to encourage its citizens to purchase electric vehicles (EVs). According to the Industry Minister, buyers will receive a subsidy to purchase EVs, such as electric motorbikes and hybrid cars from locally-made factories. Indonesia plans to allocate subsidies for…
Indonesian Enterprises in Showcase of Success State-owned Indonesian Enterprises steal the limelight at G20 Forum. The Republic of Indonesia is riding high as Indonesian enterprises continue to drive a robust economy. The country was able to showcase the outstanding achievements of state-owned enterprises at the recent G20 Forum in Bali. Indonesia’s economic improvement continues due…
Promoting Indonesia’s Downstream Mineral Sector Export structure and incentives to encourage Indonesia’s downstream mineral sector Indonesia’s Ministry of Investment is encouraging businesses to rapidly set up downstream mineral operations. The Ministry is currently structuring its export segment and adding to its investment incentives. This is part of the Government’s strategy to sustain and boost its…
Indonesia: Foreign Direct Investment (FDI) Increases By 40% Indonesia is experiencing a boom in their economy, with a rise of 40% in the second quarter of this year alone. The biggest economy in Southeast Asia, Indonesia’s Foreign Direct Investment (FDI), had an increase of 39.7% from April-June, making it the biggest increment in the previous…
Travel to Indonesia Begins Again with Cruises Departing from Singapore Genting Dream to jump-start cruise travel to Indonesia Resorts World Cruises is restarting its sailing itinerary from Singapore beginning July 1, 2022. Its ship, Genting Dream, will offer cruise travel to Indonesia with a two-night weekend getaway to Batam and Bintan. This will enable visitors…
Indonesia’s Palm Oil Export Ramps Up Under New Proposal Efforts to restart Indonesia’s palm oil export are underway The Republic of Indonesia is setting into motion a new policy that will drive an export impetus. According to the Ministry of Trade‘s recent regulation, Indonesia’s palm oil export will be resuming once again. This trading activity…
Indonesia’s Tourism Revival: Visa-on-Arrival for 60 Countries The Indonesian government added 17 more countries to their Visa-on-Arrival for Tourism (VKSKKW) list. Previously at 43, the VKSKKW’s list had 60 countries with citizens eligible for the VoA. Foreign nationals across 60 countries can now enter Indonesia via nine airports, four border crossings and 11 seaports. Directorate…
Indonesian Economy Stays on a Steady Growth Momentum Q1. A momentous occasion for Indonesia – the country is experiencing steady economic growth for a straight quarter. The change, recorded from January to March, was contributed by the relaxation of COVID-19 restrictions and the rise in commodity prices. Indonesia’s economy witnessed a 5.01% growth in last…
GDP of Indonesia to Act as Parameter in Design of State Budget 2023 Fiscal deficit of 2.81% to 2.95% of the GDP of Indonesia A fiscal deficit below 3% of the GDP of Indonesia will spearhead the design of its 2023 state budget. The fiscal deficit will range between 2.81% to 2.95% of the country’s…