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The industrial areas of DKI Jakarta are grappling with a phenomenon known as "ghost factories," a consequence of the significant exodus of businesses seeking more affordable operational environments. Industrial zones, including the Nusantara Bonded Zone (KBN) and Jakarta Industrial Estate Pulogadung (JIEP), are now dotted with deserted and abandoned factories, some bearing signs that read "For Sale/Rent" or are sealed due to local tax arrears.

In a bid to address the challenges posed by a surge in imported goods flooding the domestic market, President of Indonesia Republic Joko Widodo (Jokowi) has taken swift action, prompting the issuance of several regulations by Minister of Finance Sri Mulyani. The latest of these, Minister of Finance Regulation Number 111 of 2023, brings significant changes to the implementation schedule, now effective from October 17, 2023, as opposed to the initially planned date of 60 days after its announcement on September 18, 2023.

 

Dhaka, Bangladesh - Facing the dual challenges of a current economic downturn and the devaluation of the national currency, Bangladeshi textile millers are urgently seeking support from the central bank. The Bangladesh Textile Mills Association (BTMA) has sent a formal request to the Bangladesh Bank, urging policy interventions such as concessions on loan installments, extensions on repayment periods, and an increase in the Letter of Credit (LC) limit.

In a bid to bolster the circular economy within its textile sector, Bangladesh faces a pressing need for financial backing, technological advancements, and supportive policies. Industry experts emphasize that adopting a circular economy is paramount for the nation's textile products to maintain a competitive edge in the global market, especially in Western countries.

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