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.

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.

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.

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,

Indonesia is one of Southeast Asia's largest potential tech markets, but industry experts warn a maze of regulation threatens to hamper investment.Indonesian regulators last week rejected a proposal from Apple that the tech giant had hoped would pave the way for sales of the iPhone 16 in one of Southeast Asia's largest markets.

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.

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.