Jakarta: Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan has admitted that the government is finalizing a presidential regulation on electric vehicles.
"We will complete the process by March 5," the retired military general said here on Tuesday.
The government is committed to support the development of the electric car industry. The government is planning to offer tax incentives for electric car manufacturers.
"We then will submit the draft to President Joko Widodo," Luhut added.
Indonesia will soon have a lithium battery factory in Central Sulawesi province. It reportedly will become the largest lithium battery factory in the world.
According to reports, the factory complex will cover around 47 thousand hectares of land. In the next five years, the project will create around 100 thousand local jobs.
Quoting a report from the Investment Coordinating Board (BKPM), domestic and foreign direct investment realization in Indonesia reached Rp721.3 trillion in 2018. It grew by 4.1 percent compared to the previous year.
Domestic investment realization reached Rp392.7 trillion in 2018. On the other hand, Foreign direct investment realization reached Rp328.6 trillion last year.
According to the Indonesian Automotive Industry Association (Gaikindo), domestic car sales reached 1,151,291 units in 2018. It increased by 6.9 percent compared to the previous year
The country's completely built up (CBU) exports reached 264,553 units in 2018. In the meantime, the country's completely knocked down (CKD) exports reached 82 thousand units last year.
Amid global economic slowdown, Indonesian economy grew by 5.17 percent in 2018. It was Indonesia's highest annual growth in five years.
Indonesian economy grew by 5.18 percent in the fourth quarter of 2018. The growth was slightly stronger than earlier expectations.
In the meantime, Indonesia's poverty rate stood at 9.66 percent in September 2018. It decreased by 0.46 percentage point compared to September 2017.
The number of poor in Indonesia stood at 25.67 million people in September 2018. It decreased by 0.91 million people compared to September 2017.
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