Business News

Indonesia gets Rp 232 billion grant from EU to ease trade negotiations

Indonesia’s trade sector has received its Christmas gift early: The European Union has granted Indonesia Rp 232 billion (US$16.37 million) through a program dubbed ARISE+ Indonesia to improve trade conditions and capacity between 2019 and 2023.“The key objective is to strengthen the export and trade competitiveness of the Indonesian economy…

Jokowi ready with bold reform agenda to lure foreign investment

The government is out to streamline its sprawling and infamously complicated regulations, as President Joko “Jokowi” Widodo looks to kick-start his second term with a bold reform agenda. Jokowi has given his ministers a month to identify and revise ministerial regulations deemed harmful to the country’s chances of attracting foreign…

Investors no longer need BKPM recommendation to get stay permits

The Investment Coordinating Board (BKPM) and the Law and Human Rights Ministry’s Immigration Directorate General have integrated their respective Online Single Submission (OSS) system and Immigration Management and Information System (SIMKIM) to ease the procedures investors have to go through in obtaining temporary stay permits (Kitas).With the integrated system, investors…

Govt to gradually lower corporate income tax starting 2021

The government plans to gradually lower the corporate income tax in a bid to attract more investment and boost the country’s cooling economic growth.Finance Minister Sri Mulyani Indrawati said the plan would be incorporated in a tax bill currently being discussed by the government before it was brought to the…
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