Indonesia rejects Apple's $100-M investment offer

JAKARTA — Indonesia has rejected an Apple $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 percent of phones be made from local parts as the country seeks to boost investments from giant tech companies.

'Currently, Apple still has not invested in production facilities or factories in Indonesia,' he said in a statement released late on Monday.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.

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