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.

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

Indonesia is close to a deal with Apple Inc over an investment plan that would lift a ban on iPhone 16 sales in the country, according to a government minister.Most Read from BloombergWhat Happened to Hanging Out on the Street?

Indonesia is nearing a deal with Apple (NASDAQ:AAPL) over an investment plan which would lift a ban on the sale of the iPhone 16 series in the country, Bloomberg News reported, citing a government minister.

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.

The now almost four month-long ban on sales of the iPhone 16 in Indonesia may be lifted "very, very soon," according to a government minister.

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.