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Indonesia to meet Apple on investment proposal, official says
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Indonesia to meet Apple on investment proposal, official says
Jan 6, 2025 10:11 PM

JAKARTA, Jan 7 (Reuters) - Indonesia's industry ministry

will meet representatives from Apple ( AAPL ) on Tuesday to

discuss its investment in the country, a prerequisite for the

tech giant to sell its latest iPhone 16 locally, a ministry

official said.

Indonesia last year banned sales of Apple's ( AAPL ) iPhone 16 after

it failed to meet requirements that smartphones sold

domestically should comprise at least 40% locally-made parts.

Apple ( AAPL ) currently has no manufacturing facilities in

Indonesia, a market of 280 million people, but has since 2018

set up application developer academies in the country.

"Today, Apple's ( AAPL ) top brass will come to the Industry Ministry

to negotiate the outstanding investment commitment and Apple's ( AAPL )

proposal," Industry Ministry spokesperson Febri Hendri said.

Apple ( AAPL ) did not immediately respond to a request for comment.

Indonesia has previously said it requires Apple ( AAPL ) to commit to

new investments every three years and its last commitment, worth

$10 million, ended in 2023. It is required to make a new

commitment for 2024-2026 to meet the local content mandate.

Indonesia's has said Apple's ( AAPL ) plans to invest $1 billion in a

manufacturing plant that produces components for smartphones and

other products, details of which were still being ironed out.

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