Indonesia and Turkey Push for Digital Economic Cooperation Indonesia believes that the digital economy is the solution to the global economic crisis at the Bosphorus Summit because of the cross-border economy it can facilitate. With the support of a good ecosystem, a spillover into the non-digital economic sector is possible. The COVID-19 pandemic caused an…
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Facilities Constructed to Aid in Recovery of Tourism Sector The Indonesian Government has completed the construction of 263 new Tourism Accommodation Facilities. This was done by the Public Works and Public Housing Ministry. The 263 Tourism Accommodation Facilities are located in the Manado-Likupang area which is a high priority destination located in North Sulawesi. The…
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Government to Continue Stimulus Support to Aid the Sector Affected by COVID-19 Tourism has been battered by the COVID-19 pandemic, thus the Government plans to continue the Indonesia Stimulus Program to help drive recovery. Tourism is one of the most affected areas in Indonesia because of COVID-19. Hence the need for the ongoing special stimulus…
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Safeguarding the Economy Through a Dynamic Policy Mix Indonesia is on the road to recovery, thanks to the strong coordination between the Indonesia Government and Bank Indonesia (BI) that provides much-needed support to affected sectors in the economy. The coordinated policy has aided and provided support to businesses and households. It has also helped to…
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Positive Outlook for Indonesia Economy Despite Social Restrictions The Government is optimistic about Indonesia’s economic growth for 2021 despite the social restrictions in place. The Ministry of Home Affairs remains confident that the country can still achieve the 5% economic growth. This optimism remains intact despite the large-scale social restrictions (PSBB) that are imposed in…
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The QRIS System Is Part of Its Bid to Boost Cashless Payments As part of its bid to boost the system of cashless payments in the country, Bank Indonesia (BI) aims to double the use of its Quick Response Indonesia Standard (QRIS) System. BI is hoping that this approach will help to speed up the…
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Indonesia Collects $20.9m Digital Tax From 22 Digital Technology Companies as of October Under the recently-changed digital tax, Indonesia has garnered Rp 297 billion (US$20.9 million) from 22 digital technology enterprises, according to the Finance Ministry’s Taxation Directorate General on Monday. Aiming to implement the taxation to digital business movements in the country, the tax…
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Indonesia to Raise the Cigarette Excise Tax by 12.5 Percent for 2021 Indonesia’s state government has announced its plans to raise the minimum price of cigarettes by 12.5 % in 2021, said a finance ministry spokesperson in an effort to reduce smoking rates. The Finance Minister clarified that the government had attempted to attain a…
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Stakeholders Work to Promote Digital Sharia Economy in Indonesia Through promoting the services in Indonesia, Islamic fintech and finance institutions announced their goal of improving the community’s awareness of the digital sharia economy. The potential of the society in the industry was considered. A BWI survey showed that Indonesians only reached up to 50.4 on…
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Government Promotes Indonesian Job Creation Law to Create Quality Employment and Attract Investors Indonesian President on November 2 has signed the Job Creation Bill, or referred to as the “omnibus law,” aiming to create quality employment and attract investors by reducing logistics costs. It was considered as a response to the economic impact caused by…
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