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.

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 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 local content requirement of 40% domestically-sourced components.

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,

Apple Inc. ( AAPL, Financials) is allegedly close to settling a spat with Indonesia that stopped importing its iPhone 16 series, therefore stopping sales of the product. Bloomberg reports that Indonesian authorities expect a settlement within weeks that would allay worries about the company's adherence to local investment rules.

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 resolving its ban on iPhone 16 sales, with Apple working on an investment plan to meet local production requirements. The ban was imposed after Apple failed to comply with a rule mandating 40% locally made parts in smartphones.

Apple ( NASDAQ:AAPL) edged higher Thursday after reports indicated the company is close to resolving its dispute with Indonesia, which has blocked iPhone 16 sales over local investment rules. Investment Minister Rosan Roeslani told Bloomberg in Davos that he expects a resolution within one to two weeks.

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

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,

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.