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Special report|Indonesia's Vape Industry Has 200 Manufacturers and $1.7 Billion in Investment. Could a Regulatory Divide Derail Its Rise as the World's No. 2 Manufacturing Hub After Shenzhen?

Indonesia's Ministry of Industry cited approximately 200 electronic cigarette companies, Rp31 trillion ($1.71 billion) in cumulative investment and around 100,000 jobs across the supply chain. Indonesia's electronic cigarette exports reached approximately $518 million in 2025, with excise revenue of Rp2.84 trillion, or about $157 million. China exported approximately…

Alcohol, Tobacco & Cannabis

Brewers, distillers, tobacco and cannabis companies as businesses: Diageo, AB InBev, Constellation, Philip Morris, BAT, falling drinking, and cannabis rescheduling.

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