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NEWS & RUMOURS

Industry Minister Agus Gumiwang Rejects Apple's $100 Million Investment for iPhone 16 in Indonesia

Agus Gumiwang rejects Apple investment - Apple, a technology company from the United States, is known to have submitted an investment proposal worth 100 million US dollars or around 1.58 trillion rupiah. The investment is intended to fulfill the requirements of the Domestic Component Level (TKDN) regulation imposed in Indonesia. This proposal is expected to pave the way for Apple to sell the iPhone 16 series in the Indonesian market, one of the largest markets in Southeast Asia. However, in an exclusive interview on CNBC Indonesia's Squawk Box on Tuesday, November 26, 2024, Industry Minister Agus Gumiwang Kartasasmita stated that his office rejected the proposal. Reasons for Rejecting Apple's Proposal According to Agus Gumiwang, there are several main reasons why the government rejected the investment proposal from Apple: 1. National Interest and Industrial Independence Agus emphasized that the government is committed to strengthening local industries. The investment offered by Apple is considered not to make a significant contribution to the development of manufacturing in [...]

Fahryzal Prasetyo Friday, January 3, 2025