The senior minister has said all that remains is to finalize a nondisclosure agreement with the US electric carmaker.

The government expects EVs to account for 5 percent of domestic vehicle sales this year, determined not to fall behind Thailand in the race to become an EV export hub.

The government plans to bring foreign filmmakers to shoot Indonesia scenes in Indonesia with a variety of incentives and regulatory reform to speed up permits. 

Mining sector has been responsible for widespread damage to nature and biodiversity worldwide, yet, the sector is seen as crucial to a global green transition.

Several investment projects have reportedly been put on hold following setbacks in the implementing regulations of the controversial Job Creation Law, which has led to uncertainty among investors wanting to do business in Indonesia.

The government’s recent move to prevent renewable energy firms from selling electricity directly to end consumers is facing criticism from independent power producers (IPPs), who say the policy will deter investment in clean energy and keep the country’s emissions goals out of reach.

Investment Minister Bahlil Lahadalia said on Tuesday that the ministry would “never” offer preferential treatment to any foreign firm if no law or regulation compelled it to do so.  

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.