The offer was made in an effort to end the country's ban on iPhone 16 sales. In October, Indonesia's Ministry of Industry blocked Apple from selling its latest iPhone model, which first launched in September, for failing to comply with domestic regulations.

Indonesia's president has agreed to a $1 billion deal with Apple that if approved, will build two factories that will ultimately produce 20% of the world's AirTag supply.

President Prabowo Subianto gave his approval for the government to accept a $1 billion investment from the U.S. tech giant, according to people familiar with the matter.

Apple (NASDAQ:AAPL) is close to seeing a ban on the sales of its iPhone 16 models lifted in Indonesia after the country's President Prabowo Subianto gave his approval to accept a $1B investment offer from the company,