Indonesia’s Dive Into Economic Nationalism
Indonesia is implementing a policy to nationalize resource exports, requiring all exports of selected raw materials to go through a single state-owned enterprise. This decision, announced by President Prabowo Subianto, aims to combat under-invoicing and increase government revenue. However, the rollout has been chaotic, leaving both companies and government officials unprepared for the sudden change.
- ▪President Prabowo Subianto announced a nationalization policy for resource exports in a recent speech to parliament.
- ▪The policy aims to combat under-invoicing, which has cost the government billions in lost revenue.
- ▪The implementation of this policy has left both companies and government officials scrambling to adapt.
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Southeast Asia Brief A weekly dispatch on the politics, economics, and culture of a pivotal region, caught between China and the United States but still going its own way. Written by Bangkok-based journalist Joseph Rachman. Indonesia’s Dive Into Economic Nationalism A messy rollout looks set to disrupt global commodity markets. Joseph Rachman: A pencil drawing of a man wearing glasses in a t-shirt Joseph Rachman By Joseph Rachman, the writer of Foreign Policy’s weekly Southeast Asia Brief.
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