While the country’s tourism and aviation industries were expected to book strong recoveries this year as borders reopened and pandemic restrictions were eased, worsening macroeconomic conditions impeded progress and pushed back the expected date of a full recovery.

Asian countries are bracing for an influx of Chinese tourists as COVID restrictions are dismantled, and while some are wary, operators in others are preparing packages such as hotpot buffets to cash in on the expected spike in travel.

The government is offering India and Saudi Arabia a chance to purchase stakes in Kertajati International Airport, also known as West Java International Airport (BIJB), in a move to boost the under-used facility.

Indonesia is working to establish a new agency, as stipulated under a recent regulation on nuclear materials mining, to attract more foreign investors to help develop its nuclear energy industry.

Russia retaliated on Tuesday against a price cap on its oil imposed by Western countries, while its forces were involved in heavy fighting around the bombed-out ghost town of Bakhmut in eastern Ukraine.

The Tourism and Creative Economy Ministry has laid out its tourism targets for next year, but industry players have dismissed them as unambitious and say better public-private coordination is needed to support the sector in its ongoing recovery.

The Indonesian electric vehicle (EV) industry ecosystem has attracted billions of dollars of commitments from foreign investors to the country this year, a boon that will face hurdles going forward.

Following the year's massive investments in metals and metal goods amid a commodities boom, analysts expect the trend to continue in 2023 and the years to come in line with the global energy transition.

President Joko “Jokowi” Widodo expects both the Greater Jakarta light rail transit (LRT) train and Jakarta-Bandung high-speed railway to operate around June or July 2023.

Policymakers had hoped for 2022 to spur recovery from the COVID-19 pandemic, but geopolitical battles turned it into another year of economic crisis, sending ripples through Indonesia’s Group of 20 agenda.

Experts and businesses warn that local downstream industries were unprepared for the government’s plan to ban bauxite exports starting in June 2023, stressing that forcing such a measure may backfire against the country’s mission to support local added-value manufacturing. 

The government is planning ahead to build a cushion against a potential global recession in 2023 by saving almost US$13 billion in unused funds from this year’s budget.

The United States is flouting international trade rules by labeling imports from Hong Kong as those from China, the World Trade Organization ruled Wednesday, an outcome that Washington rejects.

Both the government and businesses expect difficult economic conditions in 2023, mainly as a result of the geopolitical tensions caused by the war in Ukraine, which will continue to create uncertainty.   

Indonesia will ban exports of bauxite next year, President Joko Widodo said on Wednesday, in his latest move to boost domestic processing industries.

Despite becoming the world’s number one stainless steel products exporter, Indonesia is finding its local industry pinched, as producers are deprived of raw materials to keep manufacturing going, while having to deal with a barrage of imported finished products.

The future of Indonesian manufacturing lies in the development of industrial estates to support the growth of the sector. Such estates provide more efficient use of infrastructure and manufacturing facilities to enhance production while minimizing environmental impacts.

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy.

Southeast Asia superapp giant Grab is back with the second edition of its annual Hari Mitra Grab (Grab Partner Day) in Yogyakarta on Sunday. With the same theme as last year, Solidaritas Selamanya (Solidarity Forever), Grab utilized this occasion to honor and appreciate its partners via various initiatives, one of which is the Apresiasi Dana Abadi (Endowment Fund Appreciation Program).

The number of passenger movement at 20 Indonesian airports during Christmas and New Year holiday this year is expected to reach 2.54 million passengers, PT Angkasa Pura II (AP II) predicts, as the state-owned operator readies its service to accommodate the end-of-year peak season. 

The World Bank has criticized Indonesia’s trade policies for their restrictions on imports, as studies show that such measures are counterproductive to achieving value-added manufacturing development.

Global coal consumption is set to rise to an all-time high in 2022 and remain at similar levels in the next few years if stronger efforts are not made to move to a low-carbon economy, a report by the International Energy Agency (IEA) said on Friday.

Called “The Infrastructure Improvement Project for Shrimp Aquaculture”, the project is designed to assist the Marine Affairs and Fisheries Ministry in introducing sustainable shrimp aquaculture to increase productivity, quality, profitability and environmental preservation in shrimp-farming areas for smallholders.

Indonesia’s trade performance was not quite as brisk as expected in November, with an erosion of export growth and a drop in imports amid a continuing trade surplus.

The group signed similar deals last year with South Africa and last month with Indonesia.

Both the government and business players are preparing to embrace two major holidays, Christmas and New Year, which it is hoped will be catalysts in spurring domestic spending on leisure activities that will boost the tourism recovery.

Russia's oil exports rose in November ahead of a Dec. 5 price cap imposed by the G7, the European Union and Australia to curb Moscow's wartime revenue, the International Energy Agency (IEA) said on Wednesday.

Southeast Asian and European Union business and government lenders have agreed to strengthen cooperation on sustainability, supply-chain energy security as well as digital economies during the 10th ASEAN-EU Business Summit in Brussels on Dec. 13. 

In the last two to three years online shopping has had a significant increase in transactions. The SEA e-Conomy report estimates the highest growth of e-commerce transactions is in Indonesia, which is projected at 22 percent and would reach US$59 billion this year.

Across the board from government to analysts, Indonesia is upbeat about potential trade benefits from Chinese industries next year as they resume operations and recover from Beijing's restrictive zero-COVID policy.