Apple should be able to sell its iPhone 16 phones in Indonesia soon, its industry minister said on Wednesday, after both sides agreed deals including an Apple manufacturing plant and a research and development centre.

Indonesia in October prohibited the marketing and sale of the iPhone 16 model over Apple's failure to meet local investment regulations requiring that 40 percent of phones be made from local parts as the country seeks to boost investments from giant tech companies.

Apple Inc. has signed an agreement with Indonesia to invest in the country, paving the way for sales of the iPhone 16 to resume in Southeast Asia’s largest nation.