Chinese firms warn Indonesia’s nickel quotas, tax hikes threaten investment

Chinese companies in Indonesia are warning that stricter nickel ore quotas, increased taxes, and a new pricing formula are jeopardizing investments. In a letter to President Prabowo Subianto, the China Chamber of Commerce highlighted excessive regulations and alleged corruption. The letter noted significant cuts in nickel mining quotas and criticized the revised pricing formula for raising costs. Prabowo acknowledged foreign investors' concerns about lengthy permit processes and called for deregulation to enhance investment. Major Chinese firms like Tsingshan Group and Zhejiang Huayou Cobalt are affected by these changes.