Business News
Foreign Property Ownership Discussion on Omnibus Law
Ownership of apartments by foreigners is stated in Article 144 (1) of the Job Creation Law, which says that ownership of apartment units (Sarusun) can be given to foreigners who have permits in accordance with the provisions of laws and regulations. This article is considered unclear and has the potential…
Indonesian Palm Oil Exports Soar Despite Declining Production
Indonesia, the world's largest producer of palm oil, has seen an increase in exports amid a decline in production. The Indonesian Palm Oil Association noted that exports in July increased 13 percent from the previous month. "From January to July, palm oil exports to India increased 22 percent compared to…
Sri Mulyani Reduces Export Levies on Wood Veneer to 5 Percent
Finance Minister Sri Mulyani Indrawati has revised the regulations concerning export goods subject to export duty and export duty tariff. In the new regulation, Sri Mulyani cut export duties, aka export levies for wood veneers (sheets of wood with a thickness of up to 3 mm), from 15 percent to…
Tourism Ministry to Start Disbursing Relief Grant to 101 Cities, Regencies Next Month
The Tourism and Creative Economy Ministry plans to start disbursing Rp 3.3 trillion (US$224 million) in relief grants to 101 selected cities and regencies in November, an official has said. The grant is intended to help recover the coronavirus-battered tourist industry. Seventy percent of the grants would be disbursed to…
