Apple plans $1 billion manufacturing plant investment in Indonesia, minister says

The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo

JAKARTA (Reuters) -Tech giant Apple plans to invest $1 billion in a manufacturing plant in Indonesia that produces components for smartphones and other products, Indonesia's investment minister said on Thursday.

In October, Indonesia banned sales of the iPhone 16 because it said Apple had not adhered to rules that require phones sold domestically to have at least 40% locally made parts. And this week, the government said it would increase the local content requirement.