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ASEAN Affairs Forum

Vietnam officially takes over ASEAN Secretary General
1/9/2013 6:47:42 PM Voice of Vietnam

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Le Luong Minh, former Deputy Foreign Minister for Vietnam

(VOV) - Vietnam has officially assumed the post of Secretary-General of the Association of Southeast Asian Nations (ASEAN) for the 2013-2017 term.

In his speech, Le Luong Minh expressed his thanks to Foreign Minister Natalegawa and the Indonesian Government for supporting the ASEAN Secretariat and praised Pitsuwan’s active contributions to the regional bloc.

Minh confirmed that during his five-year term (2013-2017), the ASEAN Secretariat and he will work with member nations to fulfill set targets, including the building of a stronger ASEAN community by 2015.
 
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Vietnam assists Philippine Bopha typhoon victims
1/11/2013 7:05:00 PM Voice of Vietnam

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Children walk in front of their flooded home in the aftermath of Typhoon Bopha in New Bataan, Compostela Valley in the southern Philippines on December 5, 2012. (AFP Photo/Karlos Manlupig)

(VOV) - The Vietnamese government has decided to provide an emergency aid of US$50,000 in cash to the Philippine government to help victims of Bopha typhoon overcome its aftermath.

The typhoon hit south Philippines last December, causing great casualties and property damage.
 
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Phoning from the Philippines

The Philippines is emerging as a great outsourcing nation for cost efficiency, but are there limits to its success?

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In just a decade, the Philippines' young Americanised 420,000-strong workforce has made call centres the heart of an $11bn industry

Move over India - Manila is the new call centre capital of the world. With its English-speaking workforce, geopolitical stability and embracement of Western culture, the Philippines is fast becoming the world’s hottest destination for call centres.

Established in just a decade, the outsourcing industry now employs 420,000 workers and accounts for five percent of the country's gross domestic product (GDP), or roughly $11bn in revenue.

The country is also an attractive backroom for small- to medium-sized companies in Western countries because it is a comfortable timezone to work in and there is cost savings of up to 70 percent.

While the Philippines leads other Asian outsourcing countries in voice oriented services- the country is looking to diversify and offer more complex creative services like animation, game development, copywriting, graphic and engineering design.

An estimated 80 percent of all call centres are in Manila, but outsourcing hubs are also opening in the provinces, bringing roads, airports and jobs to poor areas.

This offers new opportunities and starting salaries that are roughly 40 percent higher than the country's minimum wage.

While the Philippines leads other Asian outsourcing countries in voice-oriented services, the country is looking to diversify and offer more complex creative services such as animation, game development, copywriting, and graphic and engineering design.

While outsourcing has stopped a brain drain that affects other Asian countries, there are concerns that the growing industry will have an impact on other professions which need educated professionals.

But critics, including local industry leaders, argue that universities and the government have not done enough to foster innovation or to educate the emerging workforce in critical thinking.

With just five out of 100 job applicants making the cut as call center workers, 101 East examines the limitations facing outsourcing in the Philippines.

Phoning from the Philippines - 101 East - Al Jazeera English
 
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Marubeni, Doosan unveil expansion plans in Indonesia
Linda Yulisman, The Jakarta Post, Jakarta | Headlines | Thu, January 17 2013, 11:07 AM


Buoyed by Indonesia’s strong economic fundamentals, two major foreign companies, the Marubeni Corporation of Japan and the Doosan Group of South Korea, plan to further expand their business in Southeast Asia’s largest economy.

Marubeni Corporation president and CEO Teruo Asada and Doosan Group chairman Yongmaan Park unveiled their business expansion plans during a meeting with Industry Minister MS Hidayat in Jakarta on Wednesday.

Speaking to reporters following the meeting, Hidayat said that Marubeni intended to join state-owned electricity company PLN’s tender for the development of a 660-megawatt (MW) power plant.

“The firm has completed the 660 MW project in Cirebon [West Java] and it will participate in the bidding for a geothermal [power plant] project that will generate 1,000 MW,” he added.

Marubeni, through its subsidiary, Cirebon Electric Power (CEP), commenced operations at the first coal-fired power plant (PLTU) in Cirebon, West Java, last October. The plant operates as an independent power producer (IPP), which sells its electricity production to PLN.

The plant, built with an investment of US$850 million, produces 660 MW of electricity for Bali and Java islands.

Marubeni controls 32.5 percent of shares in CEP, while the remainder belongs to the Korea Midland Power Corporation (27.5 percent), Korea’s Samtan Corporation Ltd. (20 percent) and local publicly listed firm Indika Energy. Under the IPP mechanism, PLN will buy electricity from the power plant at 4.43 US cents per kilowatt-hour (kWh).

In November last year, Marubeni through the Supreme Energy Rantau Dedap (SERD), a company it established with local player Supreme Energy and France’s GDF Suez SA, sealed a power purchase agreement with PLN. SERD will build a geothermal power plant in Rantau Dedap, South Sumatra, which will supply 220MW. The plant is slated to come into commercial operation in 2016.

Marubeni would also look into developing water treatment plants in Jakarta’s regions with local and foreign partners, Hidayat said, adding that it would study the government’s offer to enter the machinery sector and shipping industry.

“I told them [Marubeni executives] we needed investment for machinery, especially for the textile industry, and also shipyards where demand is high,” he said. Indonesia’s textile industry is struggling with inefficiency resulting from high energy costs, partly due to the use of outdated machines.

Many of the 1,500 textile firms nationwide urgently need to replace their production equipment, and the government has intervened in recent years with a textile machinery revitalization program.

The country has also seen the number of ships jump from 5,000 to 11,000 in the past five years, but there are only 220 shipyards to meet the demand, leaving ample room for development.

The Industry Ministry’s director general for high-priority industries, Budi Darmadi, said that Korea’s Doosan Group, which showed expertise in the production of heavy equipment and marine diesel machinery, had expressed an interest in strengthening its presence in Indonesia.

Doosan, which is well-known for a wide range of heavy equipment, such as articulated dump trucks and excavators, is currently marketing its products through local distributors; it has yet to open a production facility in Indonesia.

“We are offering them the chance to meet the demand that we currently source from imports, such as heavy dump trucks,” Budi said.

Marubeni, Doosan unveil expansion plans in Indonesia | The Jakarta Post



RI ‘biggest winner’ in Japanese stimulus
The Jakarta Post, Jakarta | Headlines | Thu, January 17 2013, 10:59 AM

Indonesia tops the list of nine Asian countries that will reap benefits from the economic reforms recently unveiled by Japanese Prime Minister Shinzo Abe in his bid for stronger domestic demand and a weaker yen, Credit Suisse says.

In its research note released on Wednesday, the Switzerland-based bank says Indonesia will be the country that gains most from the expected economic recovery in Japan. It puts South Korea at the bottom of the ranking as the most vulnerable economy due to its export competition with Japan.

“Since Indonesia exports a lot of end-user products such as commodities — mainly mineral fuels and lubricants — to Japan, it will benefit from a potential pick-up in Japan’s domestic demand,” Singapore-based Credit Suisse economist Santitarn Sathirathai said in an email interview on Wednesday.

Abe, who is scheduled to meet President Susilo Bambang Yudhoyono in Jakarta on Friday, recently unveiled an economic stimulus and monetary easing package as part of his plan to revive Japan’s economy, which has long been trapped in a deflationary spiral.

His economic reforms include a ¥10.3 trillion (US$116 billion) stimulus that the Japanese government claims will boost its gross domestic product by 2 percent and add 600,000 jobs.

With regard to the monetary side, Abe has ordered the Bank of Japan to double its inflation target to 2 percent, calling for “bold” leadership at the central bank.

According to Credit Suisse, Indonesia will surpass Malaysia and Thailand in benefiting from the Japanese reforms because of its roles as both a “supplier” and “consumer” for Japan. Malaysia and Thailand also export a substantial volume of goods to Japan, but their imports are of less significance.

Japan is Indonesia’s second-biggest export destination after China, accounting for 11.3 percent of Indonesia’s total non-oil and gas exports worth $15.9 billion during the January-November period in 2012.

Japan is also Indonesia’s second-biggest source of foreign direct investment after Singapore, with Japanese companies realizing $1.8 billion in investments in the January-September period last year.

Satirathai said that because Southeast Asia’s largest economy imported many intermediate goods from Japan, the expected weaker Japanese yen would make the goods cheaper and, consequently, benefit Indonesia.

Analysts have said that Abe’s economic policies will eventually result in a weaker yen, a situation that is good for Japan’s economy as the currency has been too strong for too long, undermining that country’s trade competitiveness.

As of Jan. 16, the Japanese yen had already depreciated by 13 percent against the US dollar from its peak in September, a change that was described by Credit Suisse as “dramatic”.

Credit Suisse’s report also notes that Southeast Asian economies, including Indonesia, are also likely to benefit from Japan’s rising political tension with China, given the expectation that Japanese companies will turn to the region to expand their manufacturing facilities. (sat)

RI
 
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Indonesia, Argentina to Increase Bilateral Cooperation
Ezra Sihite | January 17, 2013

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Argentinian President Cristina Fernandez de Kirchner, left, is welcomed by Indonesian President Susilo Bambang Yudhoyono at the presidential palace in Jakarta on Thursday. (EPA Photo/Adi Weda) Argentinian President Cristina Fernandez de Kirchner, left, is welcomed by Indonesian President Susilo Bambang Yudhoyono at the presidential palace in Jakarta on Thursday. (EPA Photo/Adi Weda)

Visiting Argentine President Cristina Fernandez de Kirchner and President Susilo Bambang Yudhoyono on Thursday agreed on Thursday that bilateral relations between Argentina and Indonesia were becoming increasingly more strategic.

“Our two nations are both members of the G20 [The Group of 20] and are emerging nations that have led with extraordinary economic growth in the past decade,” Kirchner said in a joint press conference at the State Palace.

She stated that both countries can positively contribute to global development, and added, “On the matter of investment, our governments can cooperate through joint ventures and other [endeavors].”

Yudhoyono, speaking at the same occasion, aired conviction that the visit by his Argentine counterpart would enhance collaboration between the two countries.

“This is a historical visit and we are certain that we will be able to increase our cooperation... in the future,” the Indonesian president said.

He noted that the two countries have bolstered their ties and their coordination over the past two years.

Additionally, Yudhoyono said that Argentina and Indonesia have agreed to share their respective experiences and facilitate sustainable communication on the matter of food security.

Kirchner is the 55th president of Argentina and also the country’s first female head of state. A lawyer by qualification, she is also the widow of former president Nestor Kirchner and was formerly a senator in Santa Cruz and Buenos Aires.

She was reelected to a second term in October 2011.

The meeting between the two leaders was delayed by a few hours due to the floods that have paralyzed the Indonesian capital since early Thursday.

Kirchner, who arrived in Jakarta on Wednesday, is also scheduled to lay a wreath during the Kalibata heroes cemetery, visit the National Museum and meet with a number of key Indonesian business people.

The Argentinian president came accompanied by a large business delegation of more than 200 executives

Argentina is the second-largest importer of Indonesian goods in South America after Brazil. Indonesia, meanwhile, is Argentina’s biggest trading partner in Southeast Asia.

Bilateral trade between Argentina and Indonesia reached $1.94 billion in 2011. As of October of last year, trade between the two countries was measured at $1.67 billion..

http://www.thejakartaglobe.com/news/indonesia-argentina-to-increase-bilateral-cooperation/566059#Scene_1
 
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MP3EI Projects Worth IDR 545.6 Trillion (USD 56.5 Billion) Ready For Groundbreaking

Thomas Mola, Elok Ani Riani

JAKARTA: The Government revealed at least 82 infrastructure projects and 64 real sectors of Masterplan of Indonesian Economic Development Acceleration and Expansion (MP3EI) projects will do groundbreaking this year. The projects are totaling IDR545.6 trillion (USD 56.5 Billion)

Indonesian Economic Development Committee Integration Division Head Wahyu Utomo explained the Government worked hard so the projects can be done.

The Government has revised 41 regulations to encourage private involvement in MP3EI project.

The Government also to develop real sector project this year. There are 64 real projects with investment of IDR402.6 trillion (USD 41.7 Billion). Kalimantan get bigger portion with 11 projects worth IDR94.2 trillion, followed by 31 projects in Java worth IDR40.9 trillion.

Director of Public Private Partnership Development Bastary Pandji Indra said there are five projects undertaken with Public Private Partnership. The projects are SPAM Umbulan, Tana Ampo Terminal, Medan-Kualanamu-Tebing Tinggu toll road, Soekarno-Hatta Airport Railway and Bali Water project. Bastary expected those projects could be launched this year.

Indonesian business news & current issues from Bisnis Indonesia - bisnis.com

Indonesia needs a big reformation and huge investment in infrastructure sectors to keep its economic growth. Totalling USD 98.2 Billion investment for this year is a good start.
 
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Pertamina Still Wait For Venezuela Government Approval

Riendy Astria

JAKARTA-PT Pertamina (Limited) is still waiting for confirmation from Venezuela Government to finalize the 32% Petrodelta share purchasing process which currently is controlled by the US-based Harvest Natural Resources Inc. (HNR). (35)

Pertamina CEO Karen Agustiawan says the Company has signed a Share Purchase Agreement (SPA) with Harvest Natural Resources Inc. (HNR) regarding the shares acquisition plan.
"We are still waiting for the ‘yes’ from Venezuela Government, whether the President would permit us to take over the asset or not, "says Karen, Wednesday (16/1).

She hopes the Venezuela Government would issue the decision soon, despite the current political dynamic in Venezuela.

CEO Karen says she has asked her Government to help her to facilitate the share purchasing plan, including asked the favor of Indonesian Ambassador in the US Dino Patti Djalal. However, her Company prefers to wait until the conducive atmosphere is reached.

In responding to Karen’s efforts, the MEMR Deputy Minister Susilo Siswoutomo says the Government is committed to support Pertamina’s expansion to Venezuela.

As reported by Bloomberg early this year, Venezuelan Oil Minister Rafael Ramirez said the his Government was still evaluating whether to give permission to US Company Harvest Resources Inc. to sell their shares to Pertamina or not.

Previously, Pertamina VP for Corporate Communications Ali Mudakir said Venezuela was a oil-rich country. He mentioned that Petrodelta would be used as the doorway to endorse cooperation.

The closing settlement of the transaction will be carried out after a few prerequisites or conditions precedent are fulfilled, namely approval from Pertamina shareholders, as well as from HNR shareholder, despite permission from the Venezuela Government.

Petrodelta is the operator and holder of the 1000 square kilometers in size oil and gas block, who has concession to manage oil and gas blocks up to 2027. The block consists of Field Uracoa, Bombal, Tucupita, El Salto, El Inseno, and Temblador.

With this acquisition, share holder arrangement will be as follows: Petrodelta are Corporation Venezolana del Petroleo, S.A. (CVP), a subsidiary of the Venezuela state-run oil company, Petroleos de Venezuela, SA (PDVSA) will control some 60% of the stake. The remaining of 32% will be owned by Pertamina and the rest of 8% by Vinccler O & G Tech, a local company of Venezuela.

Based on the the Ryder Scott Certificate, 2012, in accordance with the guidelines of the U.S. Securities and Exchange Commission, proven and probable reserves (2P) of Petrodelta is approximately around 486 million barrels of oil equivalent (MMBOE). (11)

Pertamina Still Wait for Venezuela Government Approval - Bisnis.com
 
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Indonesia’s Telkom Eyes Expansion to Seven More Countries

Jan 21, 2013 at 13:15 PM by Enricko Lukman, in Business

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Kompas reported over the weekend that Indonesia’s biggest telco Telkom is looking to expand its business to seven more countries in the future through its subsidiary company Telin. This is all part of Telkom’s vision to become a global player.

At the moment, Telin is operating in three countries, namely Singapore, Hong Kong, and most recently launching in Timor Leste (also known as East Timor). The company is now conducting assessments in Australia and Myanmar for potential expansion programs. The other five countries being eyed by Telin have not been named.

Telin’s cellular product Telkomcel officially launched in Timor Leste on January 17th. The telco has prepared a $50 million investment to be used until 2015 in order to build further 2G and 3G infrastructure in Timor. Telkomcel is targeting 60 percent market share among mobile telcos in the country by 2018.

Telkom’s ambitious expansion plans should be well received by startups in Indonesia. This could mean further business opportunities for Indonesian companies wanting to expand their business reach together with Telkom in other countries. Think how SingTel has helped – or acquired – Singaporean startups. We’ve already seen some web companies expanding via Telkom’s subsidiary company Telkomsel, such as with Ngomik and Kotagames.

Indonesia
 
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ASEAN ministers vow to deepen tourism cooperation
English.news.cn 2013-01-20 19:58:28

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Lao Prime Minister Thongsing Thammavong speaks during the opening ceremony of the ASEAN Tourism Forum (ATF) held in Vientiane, capital of Laos, on Jan. 20, 2013. (Xinhua/Liu Ailun)

VIENTIANE, Jan. 20 (Xinhua) -- Representatives of the ten ASEAN nations met on Sunday in Laos' capital of Vientiane to launch the ASEAN Tourism Forum (ATF), where they pledged to expand tourism cooperation and discussed creating a pan-ASEAN tourist visa.

The ATF, which was first held in 1981, is designed to facilitate and develop tourism promotion and cooperation across the region. A total of 150 tourism ministers and officials from Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam attended the meeting.

Joining them will be 1,450 delegates, including 800 ASEAN exhibitors, 400 international buyers, 150 international and local media as well as 100 tourism trade visitors. Delegates will engage in bilateral talks, sellers and buyers meetings, and receive presentations from various ASEAN nations on their tourism industries.

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Photo taken on Jan. 20, 2013 shows a view of the opening ceremony of the ASEAN Tourism Forum (ATF) held in Vientiane, capital of Laos. (Xinhua/Liu Ailun)

According to a press release from the ATF, ASEAN leaders will consider the possibility of creating a single pan-ASEAN visa for some member countries to encourage tourists to visit. Leaders have already agreed to put more funding into developing tourism, source more financing from dialogue partners, and to promote tourism in the region.

"As an important economic sector, ASEAN cooperation in tourism has gone from strength to strength," said Lao Minister of Information, Culture, and Tourism Dr Bosengkham Vongdara. Vongdara cited the increase in total international visitors arriving in the region from 73.7 million people in 2010 to 81.2 million in 2011 as evidence of this cooperation.

Tourism is of particular significance to Laos, one of the least developed countries in South East Asia with few domestic industries. With a population of only 6.3 million people, Laos received approximately half this figure in tourist arrivals in 2012. This contributed significantly to economic growth and development in the country. Arrivals are expected to reach five million by 2015.

Across the various ASEAN member nations, tourism has risen between eight and 29 percent from 2010 2011. The ATF will run from Jan. 18 24.
 
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Singapore brings up 'baby bonus' gift by 50% to US$4,900 per child


SINGAPORE -- Singapore on Monday announced increased cash bonuses for parents of newborn babies and introduced paternity leave as part of a package of measures to boost population and reduce dependence on foreigners.

Parents of Singaporean babies born since Aug. 26 last year will receive a cash gift of SG$6,000 (US$4,900) — a rise of 50 percent, which applies to each of a couple's first two children.

The financial incentive will rise to SG$8,000 for a couple's third and fourth babies, as the government attempts to offset the high cost of raising a family — one of the gripes often aired by young couples in the city-state.

At least one parent must be a Singapore citizen to be eligible for the handout.

The government will subsidize one week of paternity leave for fathers of babies born from May 1 this year, the National Population and Talent Division (NPTD) agency also announced in a press release.

In addition, new fathers will be eligible to stay off work for a second week by taking a chunk of the standard 16-month maternity leave granted to their wives, it added.

Housing issues were also addressed in the SG$2 billion (US$1.63 billion) Marriage and Parenthood Package.

Couples with at least one child below 16 will be given priority to buy government-built apartments, where most Singaporeans live. Many couples keep their families small until they get their own flats.

“We hope that the enhanced marriage and parenthood measures will help create a more conducive environment for Singaporeans to set up families,” Deputy Prime Minister Teo Chee Hean said in the press release.

Singapore's birth rate of 1.20 children per woman, according to 2011 figures, is well below the 2.1 figure needed to sustain the native population.

The low rate has forced the city-state to bring in more immigrants in recent years. But the numbers were reduced following a social backlash, with foreigners blamed for problems including overcrowding, straining public services and driving up housing costs.

Singapore, which relies on foreign labor to power its economic growth, now has a population of 5.3 million, of whom only 3.3 million are citizens.

By 2030, 20 percent of Singaporeans are forecast to be 65 years or older, according to official statistics.

Singapore brings up 'baby bonus' gift by 50% to US$4,900 per child - The China Post
 
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@ahfatzia

not bad at all to give the parents money and other incentives. However, I fear the efforts for more babys will be fruitless or less affective. Just take a look at Germany. The country supports the parents with child allowance (184 € monthly per baby, 215 € for the fourth baby) until they can leave home and make money. In addition the government gives tax breaks, tax returns, baby holidays and so fort.

What is the result? Germany remains one of the countries with least births. So it is not the money that matters.
What does Germany do today? it allows immigration of skilled workers, it even looks to Far East and imports nurse and other skilled professionals from Vietnam.

So what I want to say? Singapore should ease immigration rules for Vietnamese. We are ready to fill the gap.
 
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Indonesia Zeroes in on Currency

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Indonesian rupiah banknotes of various denominations.

JAKARTA – Dutch tourist Margaret Masteling didn’t know one of her most memorable sights in Indonesia would be right on its bank notes. The rupiah has zeros – lots of them.

“At first it was confusing to see many zeros,” Masteling said in a hotel lobby here. “But I got used to it after a few days.”


All the zeros can be dizzying to a tourist being asked for 20,000 rupiah for a tall Starbucks SBUX -0.97% Americano (about $2). And, the government says, all those zeros slow down cash transfers and hurt the Southeast Asia country’s global image.

That may change soon.

The government began a push Wednesday to educate the public about why it makes sense to drop at least some of the zeros. The challenge is to do that without setting off alarms for everyday Indonesians that the some of the value of the money is going to be erased with some of the zeros.

“Probably for many foreigners who come for the first time to Indonesia, what they notice first is our currency. Their opinion of Indonesia might immediately drop when they see the prices are in hundreds of thousands of rupiah,” Bank Indonesia Governor Darmin Nasution said in a speech Wednesday.

Finance Minister Agus Martowardojo chimed in at the event that erasing a few zeros from the currency will make cash transactions simpler.

“Too many digits in our currency could potentially create a problem because the value of the transactions may exceed the number of digits that our payment and recording infrastructures can tolerate,” Mr. Martowardojo said.

Indonesia officially named its currency the rupiah on Nov. 2, 1949, borrowing from the Indian rupee. During the 1997-98 Asian financial crisis, the rupiah’s value nosedived by nearly 85% against the US dollar, and by 78% against prices of goods and services.

As prices went up to hundreds of thousands of rupiah, Bank Indonesia for the first time in 2004 introduced the 100,000 rupiah bank note. That’s the biggest rupiah bill today, meaning an American tourist would need to hand over about 30 individual 100,000 rupiah bills to cover a $300 hotel bill. It also means that locals have to carry lots of bank notes to get through the day.

“The idea is good because that could mean I will carry less bank notes in my wallet,” said Muhamad Yamin, a bell boy at a five-star hotel in Jakarta.

But Mr. Yamin has some worries. He’s apprehensive that some traders might jump on any redenomination of the rupiah to jack up prices for quick profits. He urged the government to impose heavy penalties to unscrupulous traders.

The idea was first privately mulled over by the central bank in 2007. It started to air the idea publicly two years ago, arguing the country’s improving economic fundamentals would ensure success. Indonesia, Southeast Asia’s largest economy, grew 5.8% on average between 2006 and 2011, while inflation averaged 6.3%.

It’s unclear how many zeros might eventually be omitted from the rupiah, but central bankers have said the authorities may follow the voluntary redenomination already practiced by merchants, hotels, and even rice traders. For several years, they’ve posted their prices without the three last zeros.

But, if all goes as hoped for by the government, it could take several years to change the rupiah’s zeros to calm any fears in the public that the money won’t be worth less. The parliament would need to pass a bill that has already been submitted. Given the government’s big push and business support, it’s expected to eventually pass and be implemented.

Bank Indonesia’s Nasution said during a transition period, which could take between two to three years, the authorities would require double price tagging. Meanwhile, Bank Indonesia would start circulating new bank notes with fewer zeros.

Indonesia Zeroes In on Currency - Southeast Asia Real Time - WSJ

:D
 
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Singapore brings up 'baby bonus' gift by 50% to US$4,900 per child


SINGAPORE -- Singapore on Monday announced increased cash bonuses for parents of newborn babies and introduced paternity leave as part of a package of measures to boost population and reduce dependence on foreigners.

Parents of Singaporean babies born since Aug. 26 last year will receive a cash gift of SG$6,000 (US$4,900) — a rise of 50 percent, which applies to each of a couple's first two children.

The financial incentive will rise to SG$8,000 for a couple's third and fourth babies, as the government attempts to offset the high cost of raising a family — one of the gripes often aired by young couples in the city-state.

At least one parent must be a Singapore citizen to be eligible for the handout.

The government will subsidize one week of paternity leave for fathers of babies born from May 1 this year, the National Population and Talent Division (NPTD) agency also announced in a press release.

In addition, new fathers will be eligible to stay off work for a second week by taking a chunk of the standard 16-month maternity leave granted to their wives, it added.

Housing issues were also addressed in the SG$2 billion (US$1.63 billion) Marriage and Parenthood Package.

Couples with at least one child below 16 will be given priority to buy government-built apartments, where most Singaporeans live. Many couples keep their families small until they get their own flats.

“We hope that the enhanced marriage and parenthood measures will help create a more conducive environment for Singaporeans to set up families,” Deputy Prime Minister Teo Chee Hean said in the press release.

Singapore's birth rate of 1.20 children per woman, according to 2011 figures, is well below the 2.1 figure needed to sustain the native population.

The low rate has forced the city-state to bring in more immigrants in recent years. But the numbers were reduced following a social backlash, with foreigners blamed for problems including overcrowding, straining public services and driving up housing costs.

Singapore, which relies on foreign labor to power its economic growth, now has a population of 5.3 million, of whom only 3.3 million are citizens.

By 2030, 20 percent of Singaporeans are forecast to be 65 years or older, according to official statistics.

Singapore brings up 'baby bonus' gift by 50% to US$4,900 per child - The China Post


Say this plan actually works and Singapore's population jump high. Will there be land expansion in order to provide housing spaces for the future Singaporean citizens? I think, merging Singapore with Batam Island is a good idea, considering that there are already many Singaporeans own properties in Batam and Batam itself is a special region with special residency law to ease foreigners to do business in Batam and settle in there.
 
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@ahfatzia

not bad at all to give the parents money and other incentives. However, I fear the efforts for more babys will be fruitless or less affective. Just take a look at Germany. The country supports the parents with child allowance (184 € monthly per baby, 215 € for the fourth baby) until they can leave home and make money. In addition the government gives tax breaks, tax returns, baby holidays and so fort.

What is the result? Germany remains one of the countries with least births. So it is not the money that matters.
What does Germany do today? it allows immigration of skilled workers, it even looks to Far East and imports nurse and other skilled professionals from Vietnam.

So what I want to say? Singapore should ease immigration rules for Vietnamese. We are ready to fill the gap.

Singapore and Germany, both have similar problem and solution regarding population growth, but the problem is caused by different background. Germany is not lacking spaces for living and its citizens still dominate the percentage of population compared to migrant workers like you, its main issue is the lack of available labor forces, not the closing gap between German citizens and foreign workers in numbers. While in the other hands, Singapore's main issue, is the gap between foreign workers and its own citizen, out of 5.3 million people settling in Singapore, only 3.3 million of them are Singapore citizens and 20% of them have reached 65 years. Making immigration rule for Vietnamese or any foreign countries with huge labor workforce become easier will only making the gap between Singapore citizens and migrant workers in number become much much closer and it will eventually defeat the main purpose of Singapore's parenting bonuses program. The main purpose is to reduce the number of foreign workers in Singapore, and replace the gap with their own citizens.
 
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Indonesia Zeroes in on Currency


That may change soon.

“Too many digits in our currency could potentially create a problem because the value of the transactions may exceed the number of digits that our payment and recording infrastructures can tolerate,” Mr. Martowardojo said.

Indonesia officially named its currency the rupiah on Nov. 2, 1949, borrowing from the Indian rupee. During the 1997-98 Asian financial crisis, the rupiah’s value nosedived by nearly 85% against the US dollar, and by 78% against prices of goods and services.

:D


Having twice the worst financial crisis, no wonder our currency has so many zeros. If this program worked, in five years, ours will be stronger than Yen right? 1 Yen= about 120 Rupiahs, (120 divided by 1000 --> 1000 Rupiahs become 1 Rupiah) 1 Yen= 0.12 Rupiahs, 10 yen= 1.2 Rupiahs.
 
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