On paper, Indonesia is Southeast Asia’s “unbreakable” economy. Growth holds steady at around 5%, domestic consumption remains resilient and foreign investment continues to flow despite a tightening global environment.
Category: Economy
Indonesia to cover airfare VAT as jet fuel price surge
Coordinating Minister for Economic Affairs, Airlangga Hartanto, held a press conference on 25 April to discuss the sustainability of the national airline industry amid rising aviation fuel costs.
Blaze engulfs Myanmar’s Homalin Township oil terminal, 22 vessels destroyed
On April 20, a blaze broke out from an oil terminal in Homalin Township at Myanmar’s northwestern Sagaing district—one of the country’s busiest trading hubs.
Indonesia’s public services increasingly digital, yet bureaucratic hurdles persist
Indonesia was entrusted to be the leader of the multilateral economic cooperation forum, G-20 in 2022, when digital transformation was a key topic.
US sanctions Cambodian senator over alleged scam connection
On April 23, the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Cambodian Senator Kok An, accusing him of being the leading figure behind a nationwide scam compound network.
Philippines to become first AI-native economic security zone under Pax Silica
Manila agreed to facilitate the US’—its long standing ally—effort to “shore up” supply chains. On April 16, Jacob Helberg, US Under Secretary of State for Economic Growth, Energy, and the Environment, mentioned a plan to establish a 4,000–acre (16,1 km2) industrial hub in the Luzon Economic Corridor.
Indonesia uncovers giant gas reserve in Borneo
Indonesia discovered a major gas reserve at Geliga-1 exploration well—a working area operated by Italian energy company ENI at the Ganal Block offshore Kutai, East Kalimantan.
Japan commits US$10 billion for Southeast Asia’s energy security
Southeast Asian leaders joined Japan on April 15 for the Asia Zero-Emission Community (AZEC) Plus Online Summit on Energy Resilience, a high-level emergency meeting aimed at securing the region’s energy future.
Singapore and Australia strengthen energy agreement to secure fuel supplies
Singapore and Australia reaffirmed their strategic cooperation in a critical energy and essential supplies agreement on April 10.
Indonesian President Prabowo Subianto highlights US$672 million asset recovery
On April 10,Indonesian President Prabowo Subianto witnessed the handover of administrative fines, recovered state funds and the sixth phase of reclaimed forest areas during a ceremony at the Indonesian Attorney General’s Office in Jakarta.