{"id":13,"date":"2026-05-26T15:41:32","date_gmt":"2026-05-26T15:41:32","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=13"},"modified":"2026-05-26T15:41:32","modified_gmt":"2026-05-26T15:41:32","slug":"trendingnow-4","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=13","title":{"rendered":"Trendingnow"},"content":{"rendered":"
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The new regulation\u00a0announced to parliament Wednesday\u00a0by Indonesian President\u00a0Prabowo Subianto\u00a0mandates that a recently set up state-owned enterprise will handle the country\u2019s exports of coal, palm oil and iron alloys by September.<\/p>\n

Read more Trendingnow<\/a><\/p>\n

Prabowo said one aim is to increase tax revenues. That would help restore dwindling government reserves that have been exhausted by the\u00a0energy shocks\u00a0from the\u00a0war in Iran. Given Indonesia\u2019s role as a major commodities exporter, the new rules likely will ripple across international supply chains.<\/p>\n

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Indonesia is the\u00a0largest exporter of thermal coal, which is burned for energy, and palm oil, a key ingredient in everything from\u00a0cosmetics\u00a0to\u00a0biofuels. The Southeast Asian nation of roughly 287 million people also has the world\u2019s biggest known reserve of nickel, a mineral needed for\u00a0electric vehicle batteries\u00a0and stainless steel.<\/p>\n

As Indonesia\u2019s largest trading partner, China will feel the brunt of this policy pivot, experts said.<\/p>\n

China is closely watching Indonesia\u2019s \u201cinitiative to nationalize\u201d and considering \u201chow it would impact China\u2019s further cooperation,\u201d said Lei Xie with the UK-based think tank Third Generation Environmentalism. \u201cThe future path that Indonesia is taking is highly important for China.\u201d<\/p>\n

The swiftness of the new rule\u2019s implementation could affect access to needed resources for China\u2019s\u00a0clean technologies industries, which use Indonesian commodities to supply growing\u00a0demand for renewable energy. Chinese companies are major investors in many Indonesian industries, including critical minerals.<\/p>\n

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\u201cIndonesia has become vital to China\u201d since it supplies the commodities that \u201cunderpin China\u2019s dominance in electric vehicles, batteries, and industrial manufacturing,\u201d said Li Shuo with the US-based Asia Society Policy Institute\u2019s China Climate Hub. \u201cBut the relationship is evolving.\u201d<\/p>\n

If handled well, the centralization of Indonesia\u2019s trade may also open the door to more American investment, analysts said, as it competes with China for key resources.<\/p>\n

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\u201cSuch a move is a clear signal that U.S. investment is being attracted to come to Indonesia even more,\u201d said Bhima Yudhistira with the Jakarta-based Center of Economic and Law Studies. He called the new policy a \u201chostile takeover\u201d that will mean every contract in industries controlled by China may be revised.<\/p>\n

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Indonesia tightens its grip on natural resources<\/h4>\n

Prabowo told lawmakers Indonesia had lost as much as $908 billion because exporters underreport their sales to avoid paying taxes and other fees.<\/p>\n

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\u201cThe primary objective of this policy is to strengthen oversight and monitoring \u2014 and to combat under-invoicing, transfer pricing and the diversion of export proceeds,\u201d he said.<\/p>\n

The new entity taking over Indonesia\u2019s exports of these commodities \u2014 PT Danantara Sumberdaya Indonesia \u2014 was officially registered the day before Prabowo\u2019s announcement. It is 99% owned by Danantara, the sovereign wealth fund the president launched last year, and will strengthen the government\u2019s influence on setting the price of its commodities.<\/p>\n

This \u201crepresents a governance reform, a step toward strengthening our credibility in managing strategic commodity trade in an orderly and accountable manner,\u201d said Yvonne Mewengkang with Indonesia\u2019s Ministry of Foreign Affairs.<\/p>\n

From June to August, private companies are expected to turn over their import and export transactions to Danantara, which by September should manage all trade transactions with foreign buyers.<\/p>\n

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\u201cThere will be an explanation for investors later, so that stakeholders will be informed before June 1,\u201d said Airlangga Hartarto, the coordinating economic minister in Indonesia. \u201cAfter all, in the initial phase, we are focusing on transparency in reporting.\u201d<\/p>\n

Read more Trendingnow<\/a><\/p>\n

Trade analysts are skeptical that the government will be able to seamlessly take over trade in all those industries within less than four months.<\/p>\n

New policies hurt Chinese industries<\/h4>\n

China is Indonesia\u2019s top trading partner and one of its biggest sources of foreign direct investment.<\/p>\n

Chinese firms dominate Indonesia\u2019s nickel industry and China is a top importer of the resources affected by the trade takeover.<\/p>\n

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Other major importers of Indonesian palm oil, coal and nickel include the U.S. and the European Union. India, Japan and South Korea and neighboring Malaysia, Vietnam and the Philippines would also be affected.<\/p>\n

Under\u00a0Prabowo, the government has been increasing control over strategically important commodities, cracking down on unauthorized mining operations, taking over plantations and pushing for the development of a domestic refining industry for critical minerals.<\/p>\n

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Even before Prabowo\u2019s announcement, the China Chamber of Commerce in Indonesia sent a five-page protest letter last week highlighting investors\u2019 concerns about Indonesia\u2019s unstable business climate.<\/p>\n

Chinese enterprises recently have faced \u201cexcessively stringent regulation, over-enforcement, and even corruption and extortion by competent authorities,\u201d the letter said. This has \u201cseverely disrupted normal business operations\u201d and \u201cundermined long-term investment confidence.\u201d<\/p>\n

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\u201cPrabowo didn\u2019t listen to the complaint from these Chinese companies and then did something very, very shocking with this new body to control the export,\u201d said Yudhistira with CELIOS.<\/p>\n

It\u2019s an opening for other investors<\/h4>\n

By exerting state control over key industries, Indonesia is trying to diversify its investors, according to Yudhistira. Reducing Chinese control may attract interest from others, like the U.S.<\/p>\n

This will only intensify the\u00a0race for resources\u00a0between the two superpowers, he warned.<\/p>\n

Whether this new policy does attract new investors, however, will depend on the transparency of its implementation, said Syahdiva Moezbar with the Finland-based Centre for Research on Energy and Clean Air in Jakarta.<\/p>\n

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Private businesses say they are still in the dark.<\/p>\n

Danantara\u2019s impact on small-volume trade, specialized product exports and downstream industries still needs to be spelled out, according to Eddy Martono, chairman of the Indonesian Palm Oil Association.<\/p>\n

\u201cExporters usually already have their own established markets,\u201d he said. \u201cWe must ensure we do not lose these markets if they are not managed properly.\u201d<\/p>\n

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Delgado reported from Bangkok.<\/p>\n

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The Associated Press\u2019 climate and environmental coverage receives financial support from multiple private foundations. The AP is solely responsible for all content. Find AP\u2019s\u00a0standards\u00a0for working with philanthropies, a list of supporters and funded coverage areas at\u00a0AP.org.<\/p>\n

Read more Trendingnow<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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