Business News
Indonesia to Form ‘World’s Largest’ Geothermal Holding Firm
The State-Owned Enterprises (SOEs) Ministry plans to merge PT Geo Dipa Energi, PT Pertamina Geothermal Energy (PGE) and PT PLN Gas and Geothermal (PLN GG) this year to form a giant geothermal holding company to push green energy use in the country. Together, the three companies have an installed geothermal…
Govt Launches 'Priority List' to Jack Up Investment in Key Industries
The government has issued a regulation containing a so-called priority list that promises potential investors fiscal and nonfiscal incentives and scraps some restrictions on foreign investment to spur inflow of investment to the recession-hit country. Presidential Regulation No. 10/2021, which implements elements of the recently passed Job Creation Law, stipulates…
Risk-Based OSS Online Business License Will Be Effective July 2021
The Investment Coordinating Board (BKPM) will implement risk-based business licensing electronically through the Online Single Submission (OSS) system. BKPM Head Bahlil Lahadalia said the implementation of the new system would be officially launched in July 2021. Provisions regarding risk-based OSS are contained in Government Regulation (PP) Number 5 of 2021…
Governor Says New Presidential Regulation Opens Up Investment Opportunities on Balinese Arak
Bali Governor Wayan Koster said a presidential regulation signed earlier this month will further the development of Bali’s own traditional liquor arak, marking a new chapter in the province’s push for the beverage to gain more commercial prominence. “The existence of Presidential Regulation [Perpres] No. 10 Year 2021 is making…
