Indonesia steps up trade protectionism with Apple and Google phone bans
South-east Asia’s largest economy pushes foreign tech groups to invest locally or lose market access.
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The bans signal that South-east Asia’s largest economy could step up the use of restrictive trade policies to secure investments from foreign companies.
PHOTO: REUTERS
A. Anantha Lakshmi and Diana Mariska
Just days into his presidency, Indonesia’s new leader has sent a strong message to foreign tech companies looking to sell in the world’s fourth-most populous country: Invest locally or lose access to the market.
But analysts warned that strategy, which remade Indonesia’s economy as a commodities powerhouse, could backfire against the likes of Apple and Google as competition in the region for foreign direct investment heats up.
