Business News
Indonesian President: Economic Growth to be Higher than Expected
Indonesian President Joko Widodo has said Indonesia will prove that its economic growth for 2021 will be higher than forecasts given by international economic and financial bodies. Addressing the Indonesia Economy Outlook Forum on February 25, Widodo said the International Monetary Fund (IMF), World Bank, and Organisation for Economic Cooperation…
Jobs Law Regulations Aim to Boost Small Businesses
The government’s newly issued regulations derived from the Job Creation Law are expected to improve the business climate for pandemic-wracked micro, small and medium enterprises (MSMEs) by easing licensing processes and facilitating demand. For example, under Government Regulation No. 7/2021, the government and regional administrations are obligated to allocate 40…
Sri Mulyani Issues 0 Percent PPnBM Car Regulation, Effective March 2021
Minister of Finance (Menkeu) Sri Mulyani Indrawati has issued a regulation on luxury goods tax discount for cars or Sales Tax on Luxury Goods (PPnBM) for cars. The regulation is contained in the Minister of Finance Regulation (PMK) Number 20 of 2021 concerning Sales Tax on Luxury Goods for the…
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…
