The state-owned airport operator, PT Angkasa Pura II, plans to build a new greenfield airport in Jakarta starting 2021. It is estimated that Indonesia would invest as much as USD 7 billion dollars for the project. The move is motivated by the unprecedented travel boom...
International Finance Corporation (IFC), a member of the World Bank Group, is providing a loan package of USD 275 million to PT Trans Corpora (Trans Corp), a wholly owned subsidiary of CT Corp. CT Corp is a diversified Indonesian-based holding company, active in the...
On 4 March 2019, Indonesia and Australia signed the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). Indonesia, which is expected to be the world’s fifth-largest economy by 2030, was Australia’s 13th largest trading partner in 2018. The...
On 20 February 2019, the United Kingdom and Indonesia signed a Memorandum of Understanding (MoU) on low carbon Energy development. Under the MoU, the UK will provide a USD 19.5 million grant to fund programs across Indonesia over the period of four years, starting...
The Investment Coordination Board (BKPM) of Indonesia revealed that government is considering revising its Negative List (Daftar Negatif Investasi) to allow foreigners to operate foreign universities and hospitals in the country. Under the new proposed regulation,...
Pegatron Corporation, an Apple’s iPhones manufacturer, is looking to start production in April this year after it confirmed the rental of a 2-hectare factory in Riau Islands in Batam. The Taipei-based company’s investment is estimated to reach up to USD 300 million,...
OneConnect, a subsidiary of China-based Ping An insurance group commenced operations in Indonesia on 20 February. OneConnect is a Fintech SaaS provider of advanced technology-enabled business solutions to small and medium-sized financial institutions. OneConnect has...
Weyland Tech Inc. and ‘Last-Mile’ Delivery Partner, PT Royal Express Indonesia (“REX”) announces update on its strategic partnership. The companies are implementing a pilot program which will launch 1 March 2019. In December 2018, the company signed an agreement with...
Repsol, the Spanish Energy company, has made the largest gas find in Indonesia in 18 years. The discovery was made in the Sakakemang block in South Sumatra. The KDB-2X well in South Sumatra provides preliminary estimation of at least 2 TCF of recoverable resources or...
Batam island plans to develop two special economic zones (SEZs), on top of its free trade zone (FTZ) status. The proposed zones may be approved as early as June this year, contingent on Indonesia’s election results in April. The two proposed enclaves under the SEZ are...
Indonesia plans to revamp its 2001 oil and gas law to increase oil and gas production, boost Indonesia’s Energy independence and strengthen investment in the country’s human resources in the sector. The proposed changes include the creation of a new special oil and...
Several Indonesian state-owned Indonesian enterprises are jointly launching a new digital payments platform, called LinkAja, which will be operation from 1 March, 2019. The QR code based payment platform was developed by the State-Owned Lender Association (Himbara),...
