Indonesia says Apple will upsize investment offer to US$1b

INDONESIA said that it has received an improved investment offer worth $1 billion from Apple Inc., in the tech giant’s latest bid to lift a ban on the sale of iPhone 16 devices in Southeast Asia’s largest economy.

The Indonesian government and Apple have settled upon the number as a “first phase” of the company’s investment, Investment Minister Rosan Roeslani told lawmakers on Tuesday, adding that he expects to get a written commitment from the company in a week.

“We want to see the fairness,” Roeslani said. “You get benefits here. You invest here and create jobs.” –BLOOMBERG