The majority of small businesses might have to shut down within six months, as the restrictions aimed at containing COVID-19 are bringing the Indonesian economy to a standstill and destroying their revenues, according to a survey by the United Nations Industrial Development Organization (UNIDO). Some 60 percent of small businesses might only survive six months […]
Read MoreIndonesia needs to improve its e-commerce regulations to better accommodate the industry’s needs and strengthen consumer protection, experts have said. Currently, the country’s e-commerce industry only has government regulation No. 80/2019 and Trade Ministerial Regulation No. 50/2020, which will come into effect in November as a regulatory umbrella. Both oversee business licensing, consumer protection and […]
Read MoreBank Indonesia (BI) and the People’s Bank of China (PBOC) signed on Wednesday a memorandum of understanding (MoU) to establish a framework promoting the use of local currencies for trade and direct investment. With the local currency settlement (LCS) agreement signed by BI Governor Perry Warjiyo and PBOC Governor Yi Gang, both central banks agreed […]
Read MoreIndonesia wants the next World Trade Organization (WTO) director-general to uphold the multilateral trade system, support developing countries’ interests and be able to handle the United States-China trade war, an official has said. Syamsul Bahri Siregar, the country’s ambassador to the Geneva-based trade body, said on Tuesday that the candidate should also be willing to […]
Read MoreBANGKOK: Fiscal policy is back in focus in Thailand as the central bank runs out of conventional monetary policy space to spur the economy. With interest rates near zero, the Bank of Thailand last week called for “more targeted and timely” government policies to support the recovery. Yet latest figures show the government has been […]
Read MoreThe government is going ahead with the plan to implement the so-called National Logistics Ecosystem (NLE) platform, expected to cut red-tape, reduce high logistics costs and boost the country’s competitiveness, a senior minister has said. The platform is expected to reduce logistics costs from the current 23.5 percent of the country’s gross domestic product (GDP), […]
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