APEC’s Sustainable Recovery Strategy with Women’s Empowerment Women’s empowerment remains a key focus of economic recovery The APEC Women and The Economy Forum continues to focus on women’s empowerment. The Forum aims to maintain the drive for gender equality toward better and sustainable economic recovery. The way forward is by ensuring viable and equal growth…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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Indonesia Exports and Imports Soar in the First Quarter of 2022 Rising worldwide commodity prices push Indonesia exports to surge. Trade is surging and riding high in Indonesia as commodity prices continue to increase globally. This is due to the world transitioning towards a post-pandemic phase as well as the Russia-Ukraine war. As a result,…
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Increase in Indonesia VAT Rate to 11% Effective 1 April 2022 The Indonesian Government plans to increase the VAT rate in the country to 11% effective 1 April 2022. The increase is in accordance with the Harmonisation of Tax Regulations, Law Number 7. The 11% VAT rate increase is reflective of the Indonesian Government’s efforts to…
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