Indonesian Political, Business & Finance News

Archive: 22 May 2025

17 articles found

Prabowo Approves USD 9.8 Billion Battery Downstreaming Project Taken Over by Huayou from LG

Minister of Investment and Downstreaming/Head of BKPM Rosan Roeslani and Minister of Energy and Mineral Resources Bahlil Lahadalia gave a press statement following a limited meeting with President Prabowo Subianto at the Presidential Palace in Jakarta on 22 May 2025. President Prabowo Subianto granted approval for the continuation of a battery downstreaming project valued at USD 9.8 billion, which was previously managed by LG and has now been taken over by Huayou.

Danantara CEO Responds to Reports of Capital Injection into Garuda Indonesia

JAKARTA — CEO of Daya Anagata Nusantara (Danantara) Rosan Roeslani has responded to reports that the sovereign wealth fund will inject capital into PT Garuda Indonesia (Persero) Tbk (GIAA). Rosan did not deny the reports but stated that discussions with various parties are still ongoing. “Let’s discuss that later. We are still in discussions with all parties on the matter,” said Rosan when met at the Presidential Palace Complex, Jakarta, on Thursday (22/5/2025).

AGF 2025: Amartha Courts Global Investors to Boost Grassroots Economic Potential

NUSA DUA - The grassroots economy holds enormous potential and plays a vital role in driving growth across Asia, particularly Southeast Asia. However, the MSME sector still faces a number of challenges ranging from access to financing, markets and supply chains, to low financial literacy, especially in rural areas. These concerns were voiced by microfinance technology platform Amartha through the Asia Grassroots Forum (AGF) 2025, held in Nusa Dua, Badung, Bali, from 21 to 23 May 2025.

Prabowo Approves Huayou to Replace LG in Battery Investment, Groundbreaking Ready

Jakarta, VIVA – Minister of Energy and Mineral Resources Bahlil Lahadalia stated that President Prabowo Subianto has approved the continuation of Indonesia’s US$9.8 billion electric vehicle battery ecosystem development project by Chinese company Huayou. Bahlil disclosed this after attending a limited cabinet meeting with President Prabowo Subianto at the Merdeka Palace on Thursday, 22 May 2025.

Danantara to Join Huayou and CATL EV Battery Consortiums, Seeking Majority Indonesian Ownership

Jakarta, CNBC Indonesia - The Daya Anagatha Nusantara (Danantara) Investment Management Agency (BPI) has been confirmed to join the consortiums developing two electric vehicle (EV) battery ecosystem projects — one built with Zhejiang Huayou Cobalt and the other with Contemporary Amperex Technology (CATL). According to Energy and Mineral Resources Minister Bahlil Lahadalia, Indonesia’s share will remain the majority in the Huayou consortium.

Minister Bahlil Denies LG Withdrew from EV Battery Project, Says Government Cancelled the Deal

Jakarta — Minister of Energy and Mineral Resources Bahlil Lahadalia has denied reports that South Korean company LG withdrew from its electric vehicle (EV) battery development investment project in Indonesia. He affirmed that it was the government that decided to cancel the cooperation. “The information suggesting that LG pulled out is incorrect.

Indonesian Nickel Mining Association to Develop National ESG Standards at Upcoming Forum

JAKARTA – The Indonesian Nickel Mining Association (APNI) will hold an Environment, Social, and Governance (ESG) Forum 2025. The event, themed ‘Advancing Sustainable Nickel’, will take place at Hotel Sultan Jakarta on 2 June 2025. The forum plans to develop ESG standards tailored to Indonesia’s conditions and circumstances, with a focus on aligning Indonesian ESG standards with global market demands and the green energy transition.

Minister Bahlil Denies LG Pulled Out of EV Battery Investment, Says He Cancelled the Deal

JAKARTA, investor.id - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia denied reports suggesting that South Korean company LG had decided to withdraw from its electric vehicle (EV) battery development investment in Indonesia. Bahlil stated that it was he who decided to cancel LG’s investment in EV development, not the other way around. “Regarding the information suggesting that LG pulled out, I want to say that is not true.

Tourism Ministry Proposes Raising Promoter Business Licence Level Following Concert Chaos

JAKARTA - The Ministry of Tourism has proposed raising the business licence level for promoters as part of efforts to safeguard and improve the event ecosystem in Indonesia. “This is to mitigate the negative impacts affecting the event ecosystem in Indonesia,” said Vinsensius Jemadu, Deputy for Tourism Products and Event Organisation at the Ministry of Tourism.

President Prabowo Summons Investment Minister Rosan Roeslani to Discuss Danantara Governance and Strategic Investments

JAKARTA, binews.id — President Prabowo Subianto summoned Investment and Downstreaming Minister/BKPM Head and concurrently Head of BPI Danantara Indonesia, Rosan Roeslani, to Merdeka Palace, Jakarta, on Tuesday, 20 May 2025. The meeting discussed a number of strategic agenda items related to the future direction of state-owned enterprise (BUMN) investment and the strengthening of governance in national projects.

Flash Floods and Landslides Highlight Urgent Need for Disaster Preparedness in West Papua

Recent flash floods and landslides in West Papua's Arfak Mountains killed at least 10 people with 10 missing, overwhelming rescue efforts complicated by difficult terrain and damaged infrastructure. The disaster was exacerbated by unregulated gold mining operations that lack safety oversight and proper location planning.

Investment Ministry Optimistic Five-Year Investment Targets Are Achievable Despite Rising Benchmarks

Bisnis.com, JAKARTA — The Ministry of Investment and Downstream Industries/Investment Coordinating Board (BKPM) is optimistic that five-year investment realisation targets can be met despite progressively rising benchmarks.

BPJS Kesehatan Pati Branch Holds Coordination Forum to Enforce Business Entity Compliance with National Health Insurance

PATI - In an effort to strengthen the implementation of the National Health Insurance Programme (JKN) and enforce business entity compliance with mandatory participation requirements, BPJS Kesehatan’s Pati Branch held a Coordination Forum on Supervision and Compliance Inspection on Wednesday (21/5/2025). The event, held in Pati, involved strategic cross-institutional participation, including the Pati District Prosecutor’s Office and the Pati Regency Manpower Agency.

Danantara to Focus on Renewable Energy Projects to Support Indonesia's Net Zero Target

JAKARTA, investor.id – The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) will focus on developing projects related to new and renewable energy. This initiative comes as Indonesia targets achieving Net Zero Emission (NZE) by 2060 or sooner. Danantara CEO Rosan Roeslani stated that renewable energy projects need to be developed, given Indonesia’s abundant resources and potential. “The investments we are making are continuous and sustainable.

Danantara Boosts Foreign Investor Confidence in Indonesia, Says Investment Minister Rosan

JAKARTA, investor.id - Investment and Downstreaming Minister/Head of the Investment Coordinating Board (BKPM) Rosan Roeslani has revealed that the establishment of the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has made foreign investors increasingly confident about investing in Indonesia. Rosan disclosed that his office has met with a number of large-scale global companies that have expressed interest in collaborating with Danantara.

Clean Energy Investment a Priority for Achieving 8 Per Cent Growth by 2029, Says Investment Minister

Jakarta (ANTARA) - Investment Minister and BKPM Head Rosan Roeslani stated that investment in clean energy or sustainable energy is one of the priorities being pursued to achieve 8 per cent economic growth by 2029. In this regard, he affirmed the government’s commitment to achieving net zero emissions (NZE) by 2060, with plans to accelerate this target to 2050.

Finance Minister Sri Mulyani Declines Comment on Major Ministry Reshuffle

Minister of Finance Sri Mulyani Indrawati was reluctant to comment on reports of a massive rotation within the Ministry of Finance, particularly regarding strategic positions such as the Director General of Taxes and the Director General of Customs and Excise. When met after attending the 18th Plenary Meeting of the DPR RI Session III Period, Sri Mulyani chose not to answer media questions regarding the reported changes to the two important positions and left when pressed on the matter.