Indonesia is launching its largest Islamic bank, Bank Syariah Indonesia (BSI), which is a merger between three state-owned Islamic banks: Bank BRI Syariah, Bank Syariah Mandiri and Bank BNI Syariah. Once the merger is finalized, BSI will be one of the largest sharia...
The Indonesian Ministry of Energy and Mineral Resources (ESDM) is planning to construct a solar park in the eastern part of the country. The location, however, is not yet unveiled. The region is considered to be particularly suitable because of its high level of solar...
Unovis Asset Management has invested in Green Butcher, an Indonesian-based startup that is developing plant-based alternatives to chicken and beef using natural, whole-food ingredients. The USD 2 million funding will support additional R&D hiring and help the...
Singapore’s tech company Sea Limited, which owns e-commerce platform Shopee and game developer Garena, has acquired Indonesia’s Bank Kesejahteraan Ekonomi (Bank BKE) by purchasing stakes from existing shareholders, Danadipa Artha Indonesia and Koin Investama...
In 2021, the Indonesian Ministry of Public Works and Housing signed 982 infrastructure procurement packages worth USD 889.2 million as of January 15, 2021. To speed up national economic recovery, Indonesia is betting on government expenditure to offset contractions in...
It has been reported that the government of Indonesia has received an investment proposal from Tesla for a potential car battery plant and energy storage system. Tesla considers Indonesia to be one of its priority investment destinations, considering that the country...
Achiko AG and PT Indonesia Farma Medis (PIFM) have established a new joint venture called PT Achiko Medika Indonesia. PFIM and Achiko will jointly manufacture and assemble Project Gumnuts Covid-19 test kits for the Indonesian market. Other companies will be involved...
In 2020, Indonesia’s food delivery service accounted for USD 3.7 billion in Gross Merchandise Value (GMV), making it the largest market in the region. Overall, the region’s GMV registered a 183% increase from previous year and exceeding the 91% growth rate from 2018 –...
In October 2020, several state-owned Indonesian companies formed a joint venture for batteries for electric vehicles (EV). The new joint venture, called Indonesia Battery Holding, will cover everything from producing chemicals and minerals to the manufacturing of...
Indonesian Conglomerate Lippo Group has announced its plans for an overhaul of its mHealth service as a key engine of growth for 2021. Lippo Group is the owner of Siloam International Hospitals, the largest chain of private-sector general hospitals in the country, in...
Nestlé Indonesia has signed a partnership agreement with Plug and Play, a global innovation platform headquartered in Silicon Valley. Through the partnership, Nestlé will be able to tap into Plug and Play’s innovation expertise and ecosystem of startups, corporations...
Taco Bell – the world-renowned Mexican-inspired quick service restaurant (QSR) – officially opened its doors to the public in Indonesia on December 18, 2020, with the opening of its branch in Jakarta. This also marks the restaurant’s first flagship location in the...
