Government Prepares Incentives for Hyundai Plant Expansion
By : Ahmad Fadli And Aldi Firhand. A | Monday, September 03 2018 - 23:29 IWST

Hyundai Oto Commercial Indonesia (ist)
INDUSTRY.co.id - Jakarta - The government has opened the option of giving tax incentives to the automotive manufacturer from South Korea, Hyundai. This incentive was given following Hyundai's plan to invest large enough amounts in Indonesia.
"It can be a tax holiday, but actually it applies to all, not just one company," said Industry Minister Airlangga Hartarto after attending a coordination meeting at the Coordinating Ministry for Economic Affairs Building, Central Jakarta, Monday (3/9/2018).
The news about the investment plan by Hyundai has actually been released since 2017. Hyundai plans to make Indonesia one of the production bases for their market in Southeast Asia. One way is to build the manufacturer itself which is rumored to have a production capacity of up to 1,000 units.
Airlangga said there were some things that were discussed in relation to Hyundai's investment. One of them is the issue of Domestic Content (TKDN) in the automotive industry, including Hyundai later. According to him, domestic automotive component companies only want the TKDN rules to be tightened by the Indonesian National Standard (SNI). "This is to reduce imports too," he said.
But until now, there has not been a final agreement on Hyundai's investment scheme in Indonesia. Airlangga said the relevant ministry was still holding talks. "This is just talking, nothing has been decided yet," he said.
Read Also
KRAIBURG TPE to Launch New Automotive Interior Surface TPE Solutions…
ASLC Actively Expand by Opening Many Showroom and Offering Attractive…
Opening the GAIKINDO JAW 2023 Automotive Exhibition, Coordinating…
ASLC Successfully Surpasses 2022 Used Car Sales Target via Caroline.id
Keep Optimistic, President Director of ASSA Adds Ownership
Today's Industry

Jumat, 31 Maret 2023 - 17:02 WIB
Boomi Partners with Leading Japanese ERP Provider To Accelerate Digital Transformation in Japan
Boomi™, the intelligent connectivity and automation leader, today announced a new partnership with Works Applications Systems, Co., Ltd. ("WAPS") which provides system development and support,…

Jumat, 31 Maret 2023 - 15:52 WIB
Tezos Activates ‘Mumbai’ Upgrade Enabling More Than a Million Transactions Per Second
Tezos, a pioneering blockchain for Proof-of-Stake consensus and on-chain governance, has activated Mumbai, its thirteenth core protocol upgrade.

Jumat, 31 Maret 2023 - 14:40 WIB
Choo Sung-hoon from Physical 100 Explored Hong Kong solo dolo
To add to the delight, the Hong Kong Tourism Board (HKTB) was glad to have Korean mixed martial artist Choo Sung-hoon – contender from NETFLIX Physical 100 – tour around Hong Kong, discovering…

Jumat, 31 Maret 2023 - 13:23 WIB
CLEO Optimistic 2023 Turnover Increases Double Digits
PT Sariguna Primatirta Tbk (Tanobel Group), a listed company, manufacturer of Bottled Drinking Water (AMDK) with the IDX ticker code: CLEO: IJ, managed to record sales of IDR 1.36 trillion in…

Kamis, 30 Maret 2023 - 17:05 WIB
TRGU Successfully Turns Losses into Profits in 2022
PT Cerestar Indonesia Tbk (TRGU), a producer of wheat flour which newly listed its shares on the Indonesia Stock Exchange last July, immediately achieved brilliant performance in 2022.
News Comment