News Formal

Indonesia rejects Apple's US$100 million investment offer

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 22 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 66%

Indonesia News

Apple,Iphone,Investment

JAKARTA: Indonesia has rejected an Apple US$100 million investment proposal aimed at lifting a ban on iPhone 16 sales, saying it lacks the "fairness" required by the government.

Indonesia last month prohibited the marketing and sale of the iPhone 16 model over Apple's failure to meet local investment regulations requiring that 40 per cent of phones be made from local parts as the country seeks to boost investments from giant tech companies.

But Industry Minister Agus Gumiwang Kartasasmita said Apple had not met the government's requirements, especially when compared with the tech giant's investments in other countries. He said the ministry urged Apple to immediately set up a production facility or factory in Indonesia"based on the fairness principles" so the company does not have to file an investment scheme proposal every three years.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Swiss companies set sights on India as US$100 billion trade pact promises more opportunitiesZURICH: Investments in India by Swiss companies such as engineering group ABB and transport firm Kuehne+Nagel are on the rise, with a US$100 billion regional trade deal expected to further open it up to businesses long geared towards China.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »