The government has announced 27 national holidays for this year alone, mostly related to religious events. By comparison, Vietnam has only 13 national holidays, said Eko Listiyanto from the Jakarta-based Institute for Development of Economics and Finance.
Trade
Indonesia’s economy grew by 5.11 percent year on year in the first quarter of this year, Statistics Indonesia BPS announced recently.
According to Swire Shipping, the cargo was loaded in Mokpo, South Korea and shipped to Balikpapan, Indonesia. It was destined for the Refinery Development Master Plan (RDMP) in Balikpapan, a strategic national refinery enhancement project. The project is designed to bolster energy resilience and self-sufficiency.
Beijing is courting Jakarta with promises of investments. Meanwhile, the US is losing sway the longer it dithers over Gaza.
In 2022, Indonesia began implementing its Just Energy Transition Partnership (JETP), aiming to mobilise $20 billion over three-to-five years.
Indonesia is seeking to sign its trade pact with Sri Lanka by next March while hoping that one year of negotiations is enough to close the deal.
Indonesia’s move to get more goods produced onshore is already starting to backfire, with companies warning that supplies of products including Apple Inc.’s MacBook Pro could start to run out as soon as the end of April.
Indonesia is evaluating regulations designed to curb imports of more than 3,000 products, a senior trade ministry official said on Friday, following industry concerns the rules could disrupt the domestic supply chain and disrupt exports.
More than 100 Australian cattle have died on a live export ship to Indonesia — likely one of the highest mortality rates ever reported on an Australian cattle shipment.
A PTA typically reduces or eliminates tariffs on selected goods, making it the first step in economic integration. During the launch, both countries found the PTA to become a key building block towards a free trade agreement (FTA) — a more comprehensive deal that usually aims to lift the tariffs across all goods.
Indonesia and Sri Lanka on Thursday launched the negotiations for a preferential trade agreement (PTA) after waiting since 2017.
Backed by Chinese capital, Indonesia’s rapidly growing nickel sector has shown how important geology, technology and controlling the means of production is to the battle lines being drawn over critical minerals.
Plans to introduce 40-75 percent tax rate for entertainment services prompt fierce backlash from businesses.
Indonesia’s economy grew 5.0% in the fourth quarter from a year earlier, supported by resilient domestic consumption, despite exports shrinking and commodity prices falling, a Reuters poll of 23 economists found.
Australia’s northern cattle trade is in limbo as the industry waits for Indonesia to issue official cattle import permits for 2024.
Tokyo to remove tariffs on processed fishery items, sides to improve banking relations.
