Business News

Indonesia’s Omnibus Law: Risk Based Business Licensing

•    Indonesia’s Regulation 5 of 2021 introduces a risk-based approach to the issuance of business licenses.•    Business activities will be assessed on the scale of the hazards they can potentially create (low risk, medium-low risk, medium-high risk, and high risk).•    The risk-based business licensing procedure will impact 16 sectors, including…

Mother of Spices: Indonesia Eyes to Boost Spice Export to the EU

Jakarta. Indonesia is eyeing to ramp up their spice exports —particularly to the European Union, or EU— with a new multi-stakeholder platform dedicated to helping farmers export high-quality and sustainable spices.According to the Coordinating Ministry for Economic Affairs, the global demand for spices is rising amid the Covid-19 pandemic as…

Keeping the Sumatran coffee business fragrant amid COVID-19 pandemic

Jakarta (ANTARA) - "There is coffee, there is a story, there is no coffee, there is no need to tell a lot. Come on, let us have a coffee, we will tell a story,” according to an Acehnese writer. These words were stated by Fikar W. Eda, also a well-known…

Indonesia to make more regional development banks, pension funds Shariah-compliant as it eyes bigger Islamic economy

Indonesia is in a hurry to increase Islamic financial assets and, under orders from vice president Ma’ruf Amin, the National Committee for Islamic Economy and Finance (KNEKS) will take a progressive approach.Islamic commercial banking assets stood at 593,948 billion rupiah at the end of 2020, making up 6.47% of the…
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