US tech giants Tesla, Google, and Amazon have shown interest in investing in Indonesia, in particular, in its digital economy and electric vehicle industry.
The Ministry of Manpower issued a circular in October 2020 advising regional governments not to increase the monthly minimum wage rates due to the ongoing pandemic.
The US extended Indonesia’s Generalized System of Preference (GSP) status in early November 2020, meaning thousands of Indonesian exports to the US are duty free.
Indonesia and Singapore established a ‘green lane’ on October 12, 2020, to facilitate business and official travel between the two countries. Applications were open from October 26.
On October 1, 2020, Indonesia issued Reg 26/2020, which relaxes certain criteria for foreign visitors to be able to enter Indonesia.
International businesses planning their 2021 investment budgets should see Indonesia as ASEAN’s best growth potential in the long-term.
Indonesia’s robust economic growth, sound fiscal policies, and political reforms have long made the country an attractive investment destination for US investors.
Indonesia and the United States have enjoyed bilateral relations that stretch from 1949, with annual total trade valued at US$30 billion.
Government Regulation 49 of 2020 (GR 49/2020) provides reductions in and postponement of the social security payments made by businesses.
For foreign workers and their employers in Indonesia, understanding the process to obtain an employment permit is essential.