TOKYO -- Indonesia is counting on new tax incentives and upgraded infrastructure to lure more global manufacturers to the country, as it strives to become a factory floor for the world amid the simmering U.S.-China trade war.
Beginning next month, Southeast Asia's largest economy will offer a deductible tax of up to 200% to both domestic and foreign companies for research and development in the country. For every $100 million a company invests in R&D, it will receive a tax allowance of $200 million, Indonesian Industry Minister Airlangga Hartarto told the Nikkei Asian Review in an interview on Thursday.
