Tag: Startup

Recently, the private sector has been given more leeway to develop and produce military equipments. This is a positive development as it reduces reliance on SOE’s and if managed correctly, can transform the Indonesian defense industry sector into a dual-use force that can simultaneously hasten the pursuit of self-sufficiency and becoming a major economic driver.

Airwallex has acquired a majority stake in PT Skye Sab Indonesia, gaining access to important payment licenses to enhance localized financial services. Following a USD 330 million funding round, this move positions Airwallex to support Indonesian SMEs in cross-border transactions while increasing competition in the fintech sector amid regulatory challenges.