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Indonesian top minister reveals Apple's huge investment plan in IKN, Bali, and Solo

Tempo - April 19, 2024

Annisa Febiola, Jakarta – Indonesian Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, revealed tech giant Apple's plans for a substantial investment in the country following the meeting between Apple CEO Tim Cook and President Joko 'Jokowi' Widodo at the Jakarta Merdeka Palace on Wednesday, April 17.

Luhut said that Cook perceived Indonesia as a potential market, given its demographic bonus, stable economic growth and macroeconomics, and a good inflation rate.

"He (Cook) wants to invest in Indonesia and ordered his staff to promptly follow up on this plan. The President ordered me to immediately respond to their investment plan which is quite large in Indonesia," Luhut said in his Instagram video uploaded on Thursday, April 18.

Luhut, who was appointed as the coordinator for Apple's investment project in Indonesia, said the meeting was highly productive. He added that Cook expressed great interest in investing in the new capital or IKN in East Kalimantan, especially in the field of artificial intelligence or AI.

"He is also interested in [opening] an AI center in Bali and Solo. He sees it as an opportunity for them to make an investment. With the downstream programs and raw materials we have, they see Indonesia as a very good country," Luhut remarked

Indonesia is eager to compete with Thailand and India in terms of Apple's investment. Therefore, Luhut pledged to offer the same incentives that the U.S. company received from the two countries, or even more, as directed by President Jokowi.

At present, Luhut and his team are working on a cooperation plan with Apple. "I hope we will have a technical meeting with the Apple team soon."

Source: https://en.tempo.co/read/1858391/indonesian-top-minister-reveals-apples-huge-investment-plan-in-ikn-bali-and-sol