Indonesia is close to a deal with Apple Inc for an investment plan that could lift a ban on iPhone 16 sales in the country, investment minister Rosan Roeslani told Bloomberg News on Tuesday.

Apple may have offered a new deal to the Indonesian government, which will likely go through within one or two weeks.

Apple has not been allowed to sell its iPhone 16 in one of the most important Asian markets. Now there is hope for a quick solution.

Indonesia is close to reaching an agreement with Apple, likely allowing iPhone 16 sales to resume. The sales were banned as Apple didn't meet the loca

Middle powers with rapidly growing economies feel they have more bargaining power than they once did – and some are not afraid to use it.

The iPhone 16 has been unavailable in Indonesia since October, when the government ruled that Apple hadn’t met its requirements that 40% of its components come from suppliers in the country. Since then, Apple has offered ever-increasing commitments to spend money on building new infrastructure, only to be rebuffed each time.

Indonesia’s requirements for locally sourced components are stringent, with firms reportedly needing to produce 35% to 40% of a device’s components within the country. While Indonesia has allowed exceptions in the past,

Indonesia is reportedly close to finalizing a deal with Apple Inc. (NASDAQ:AAPL) that could pave the way for the sale of the iPhone 16 in the country. According to Bloomberg News, Indonesias investment minister,

Apple is closing in on an investment plan deal with Indonesian authorities that would allow it to resume iPhone 16 sales in the country,

It banned the iPhone 16 from sale, and demanded a far larger investment. Apple initially offered $100M, but the government said that wasn’t enough. It then said it wanted a billion dollar manufacturing spend in the country.