Indonesia’s car exports are forecast to drop by 50 percent in 2020 due to large-scale social restrictions amid the COVID-19 pandemic, according to Association of Indonesian Automotive Manufacturers (Gaikindo).
Indonesia’s manufacturing industry is facing two main obstacles in terms of limited cash and working capital flows amidst the COVID-19 pandemic in the country, said Industry Minister Agus Gumiwang Kartasasmita on May 20.
Indonesia posted a net inflow of 4.1 billion USD from April to May 14, after recording a net outflow of 5.7 billion USD in the first quarter of 2020, said Bank Indonesia (BI) Governor Perry Warjiyo on May 19.
Cambodia has lifted a ban on entry of visitors from Iran, Italy, Germany, Spain, France and the US that had been put in place to curb the spread of the COVID-19, the Health Ministry said on May 20.
Indonesian coal miners are struggling with slow demand this year as businesses in India, one of the country’s major coal markets, hit the brakes due to a prolonged lockdown to contain the COVID-19 pandemic, a data firm has said.
Indonesia’s Ministry of Transportation has imposed penalties on local carrier Batik Air and the operators of the Soekarno-Hatta and PT Angkasa Pura II Airports for not maintaining a safe distance between passengers during the COVID-19 pandemic.
The Indonesian government is rolling out a 641.17 trillion rupiah (43 billion USD) economic recovery stimulus, bigger than previous allocations, to soften the impact of COVID-19 on micro, small and medium enterprises (MSMEs), as well as state-owned enterprises (SOEs).
The Indonesian government should increase economic recovery spending to 600 trillion Rp (40.17 billion USD) to help domestic businesses cope with the economic impacts of COVID-19, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Indonesia will require big internet companies to pay value-added taxes (VAT) on sales of digital products and services from July as part of efforts to boost revenue amid the coronavirus pandemic, according to a tax official of the country.
State-owned lender Bank Rakyat Indonesia (BRI), in cooperation with ride-hailing service provider Grab, has launched a low-interest loan facility for the latter’s drivers and merchant partners who have been impacted by the COVID-19 pandemic.
Thailand’s Tourism and Sports Ministry is aiming high for 100 million domestic trips this year as the international travel market will not be likely to return to normal soon because of the COVID-19.
The Indonesia government will issue a stimulus package worth 25 trillion Rp (1.68 billion USD) to recover the local tourism industry after the COVID-19 pandemic.