Indonesia rejects Apple’s $100m investment proposal

The Indonesian government has officially rejected Apple’s proposed investment of $100 million for the 2024-2026 period.

Indonesian Industry Minister Agus Gumiwang Kartasasmita stated that the proposal did not meet the government’s standards of fairness, citing insufficient added value to the country’s revenue and job creation.

The minister also highlighted the disproportionate investment amount compared to other foreign technology companies that have established factories in Indonesia.

The ministry plans to invite Apple representatives to discuss a revised investment proposal and address the outstanding $10 million commitment for the 2020-2023 investment period.

The government remains open to negotiations with Apple to facilitate the company’s investment in the country. This would enable Apple products, including the iPhone 16 series, to obtain necessary certifications and be officially marketed in Indonesia.

Attribution: Xinhua

Subediting: M. S. Salama