Indonesia Economy Forum

[Nike]

Central Java increases use of renewable energy
Jumat, 2 November 2018 14:40 WIB - 1 Views

Reporter: Antara

Workers are active in the PT Geo Dipa Energy Geothermal Power Plant (PLTP) installation area in the Dieng plateau, Banjarnegara, Central Java, (ANTARA PHOTO/ANIS EFIZUDIN)

Semarang, C Java, (ANTARA News) - The Central Java provincial government continues to increase the utilization of new and renewable energy by cooperating with various related parties.

"We are attempting to improve the use of alternative energy through tapping the potential of biogas, biomass, and swamp gas energy," Central Java Deputy Governor Taj Yasin Maimoen remarked here on Friday.

He said the local government develops rural electricity through alternative energy-based power plants and organizes independent energy village competitions and saves water energy.

The Central Java deputy governor, better known as Gus Yasin, explained that the energy mix in the province in 2017 for new and renewable energy was recorded at 9.56 percent and in accordance with the National Energy General Plan, and the proportion of new and renewable energy in the energy mix will then be increased.

"In 2018, it is targeted at 10.31 percent, while in 2025, it will reach 21.32 percent, and by 28.82 percent in 2050," he stated.

Other efforts to develop new and renewable energy while supporting the increase in the electrification ratio are the construction of the "Solar Home System" Solar Power Plant (PLTS SHS), which is also a solution to meeting the electrical energy needs for household lighting, especially in remote areas that are difficult to reach.

The construction of 488 units of PLTS SHS in Central Java had been implemented from 2013 to 2017, with an installed capacity of 24.4 kilowattpeak, while in 2018, there are 87 units of PLTS SHS in the districts of Jepara, Klateny, and Semarang.

"We also develop new and renewable energy through the construction of 75 units of biogas demonstration plots in Central Java in the 2013-2017 period, while in 2018, a total of 10 units of biogas demonstration plots are being built in Semarang, Boyolali, Karanganyar, Wonogiri and Klaten districts," Maimoen noted.

He stated that in 2017, a swamp gas demonstration plot was also built in Rajek Village, Grobogan District, with 22 beneficiaries.

Reporting by Wisnu Adhi Nugroho
Editing by Otniel Tamindael

Editor: Otniel Tamindael

COPYRIGHT © ANTARA 2018

 

[Nike]

Negative campaigns against palm oil reaches Russia
Sabtu, 3 November 2018 14:12 WIB - 0 Views

Reporter: Antara

Topan Mahdi (left) Chairman of the Indonesian Palm Oil Entrepreneurs Association (GAPKI) listened to the explanation of the representative of the Russian Oil and Fat Association Yulia Dementyeva on the sidelines of the 14th Indonesian Palm Oil Conference (IPOC) & 2019 Outlooke, in Nusa Dua, Bali (ANTARANews / Risbiani Fardaniah)

Nusa Dua, Bali, (ANTARA News) - Negative campaigns, which begin in Western Europe, already reached Russia linking the tropical vegetable oil environmental damage and that it is hazardous to health.

Russians are not very concerned with environment but they are very sensitive to issue related to the healthiness of food, representative of the Russian Association Vegetable Oil and Fat Yulia Dementyeva said .

"We have information that palm oil was cheaper and palm oil was used to produce edible chemicals," Yulia, who took part in the two-day international conference of the 14th Indonesia Palm Oil Conference (IPOC) and 2019 Price Outlook di Nusa Dua, Bali, ending here on Friday.

The information discouraged Russian consumers from using palm oil for cooking, she said.

"However, after coming to Indonesia at the invitation of the Oil Palm Plantation Fund Management Agency (BPDP) and visited palm oil processing factories we have different view about palm oil," she added.

She said she and a number of Russian journalists were shown how palm oil was processed to turn out many products including edible oil and chemical materials for cosmetics and soap.

"We are surprised at seeing cooking oil from palm oil sold at supermarkets," Yulia said on the sidelines of the international conference.

Alexander Gavrilenko from the Russian National Agrarian Agency, said Russia needs larger supply of vegetable oil and currently vegetable oil supplies are dominated by sunflower oil.?

Alexander said palm oil could be an alternative vegetable oil in Russia cheaper in price but most Russians are still doubt the healthiness of palm oil for food.

He said his visit to oil palm plantations in Raiu seeing the process of producing palm oil changed his view of the vegetable oil.

"I will write something about palm oil that the Russian people would know that they have alternative edible vegetable oil," Alexander, who works for an agricultural media in Rostov, Russia.

Polina Kondrashina from Interfax News Agency and Artem Falchev from Milknews, who have also visited oil palm plantation and palm oil processing factories in Riau also said they had different view of palm oil after visiting Indonesia.?

Artem, who works for consumer goods mdia, including dairy products said in Russia palm oil is used mainly as the feed stock for emulsion only as it is cheaper than milk fat. ?

"Therefore, in Russia products using animal fats and vegetable fats particularly palm oil are set separately," he said.

An official of the Indonesian embassy in Moscow Adiguna Wijaya said Indonesia`s exports of palm oil to Russia have continued to increase and now the second largest after machinery exports .?

Palm oil exports to Russia were valued at US$551 million last year when Indonesia `s total exports to that country were valued at US$2.48 billion and Indonesia`s imports in the bilateral trade were worth US$788.8 million.

Indonesia is the world`s largest producer of palm oil and is facing marketing problem especially in Europe where negative campaign against the commodity is strong.

Reporting by Risbiani Fardaniah
Editing by Albert Saragih

Editor: Andi Abdussalam

COPYRIGHT © ANTARA 2018

 

[Nike]

News Feature - Indonesia needs efficiency in sugar production by Andi Abdussalam
Sabtu, 3 November 2018 21:13 WIB - 0 Views

Reporter: Andi Abdussalam

Farmers harvest sugarcane to send to a sugar factiry in Nganjuk, East Java, on Monday (21/5/2018). (ANTARA FOTO/Ari Bowo Sucipto)

Jakarta (ANTARA News) - Indonesia, which has extensive and fertile land, should logically be able to maintain its sugarcane plantations and sugar mills efficiently, in order to meet the need for sugar of its people.

However, so far, the government still has to import the commodity to meet about 50 percent of its people`s need, particularly sugar for industry.

The problem that the country`s sugar business is facing is the inefficiency of most of its sugar mills. Additionally, the sucrose content of the country`s sugarcane and the competitiveness of its sugar production are both low.

White sugar production by the country`s sugar mills is only about 2.7 to 3 million tons per annum or only about 50 percent of the need at about 5 to 6 million tons. Thus, the balance should be covered by imports.

The production of the sugar factories was affected partly due to the condition of the old mills. Hence, the Ministry of State-owned Enterprises (SOE) announced last year that it was planning, beginning in 2018, to shut down 23 of the 45 sugar mills in Java in stages by 2020.

According to the Center for Indonesian Policy Studies (CIPS), the national sugar mills should increase the competitiveness of sugarcane farmers? production by increasing the sucrose content of their canes.

Chief researcher of CIPS, Hizkia Respatiadi, noted in a written statement last month (Oct 20) that until mid 2018, the extraction level of sucrose content of Indonesia`s sugarcane was only about 7.5 percent.

This level is below those of the Philippines and Thailand which reached 9.20 percent and 10.70 percent, respectively. If Indonesia, the Philippines, and Thailand produce the same quantity of sugar, then Indonesia needs to harvest sugar 22.67 percent higher than that of the Philippines and 42.67 percent higher than that of Thailand.

"As an example, if Indonesia, the Philippines, and Thailand intend to produce 1 million tons of sugar, then Indonesia should harvest 13.3 million tons of sugarcane, while the Philippines and Thailand only need 10.8 million tons and 9.3 million tons, respectively," Respatiadi noted.

Increasing the sucrose content of the sugarcane can be done through the efficiency of the sugar factory. For this reason, real efforts are needed to revitalize sugar factories in Indonesia.

Sugar factories in Indonesia are generally hundreds of years old because they have been operating since the Dutch occupation in Indonesia. In addition, farmers also need the availability of good quality seeds and fertilizers.

The increase in sucrose content of sugarcane is needed to boost the competitiveness of farmers` sugar. Even though the price for the absorption of farmers` sugar by the state-logistics agency (Bulog) has been set at Rp9.7 thousand per kilogram, the low sucrose content is thought to be the main cause for the difficulty of farmers to sell their products.

If Bulog does not want to buy farmers` sugar, then it is feared that commercial industries also do not want to buy it. Nevertheless, Respatiadi also suggested that there may be other factors that cause local production of farmers not to be absorbed.

"We need to look at this problem from the business perspective. Another possibility on why farmers cannot sell their sugarcane crops is because there are currently a lot of sugar stocks in the market. Hence, sugar mills think they do not need to supply the market with sugar again and so they refuse to buy farmers` sugarcane. Therefore, Bulog cannot buy sugar from sugar factories," he explained.

However, this could only be realized if Indonesian sugar prices were low, he added. The average price of national white crystal sugar in August 2018 reached Rp12,386 per kilogram, which was almost three times the world price of Rp4,591.48 per kilogram in the same period.

In the meantime, the Association of the Indonesian Sugar Cane Farmers (APTRI) stated that virtually Bulog has absorbed farmers` sugarcane crops. APTRI executive officer Sunardi Edy Sukamto remarked in a release last month that APTRI has agreed to the selling price to Bulog and is consistent with the policies that have been taken.

He explained that currently most of the farmers` sugar cane has been cut down and farmers` sugar has been bought by Bulog on assignments from the government. Sukamto explained that the farmers` sugar had been partially absorbed by traders before the assignment of Bulog.

"We understand that even though it is tough, Bulog continues to carry out its commitment; yet in the process, there are payments that are not smooth, because there may be an administrative process and the amount of funds available at Bulog. Moreover, the amount is not small, around Rp1.2 trillion," he added.

However, he continued, it was not right when the sugar had been purchased, but there were those who wanted the price to be raised.

"When the farmers have been billing, when the sugar has been bought by Bulog, when the producers have sold them to the traders, when sugar is in the hands of the traders, and there is a rally asking for the price to be raised, then those who will enjoy the benefits are not farmers," he revealed.

He explained that sugar from farmers under the non-state-owned or private sugar companies had also been absorbed by traders, and thus sugar is under the control of traders.


Editor: Yosep Hariyadi

COPYRIGHT © ANTARA 2018

 

[Nike]

36 Indonesian companies participate in China import exhibition
Minggu, 4 November 2018 11:04 WIB - 0 Views

Reporter: Antara

Oriental Pearl Tower as an icon of the City of Shanghai, China, is decorated to welcome CIIE participants on November 5-10, 2018. (M. Irfan Ilmie)

Shanghai, China (ANTARA News) - As many as 36 Indonesian companies are participating in the China International Import Exhibition (CIIE) in Shanghai held on October 5-10, 2018.

Among the 36 companies were large-scale ones such as Mayora Indofood, Sekar Laut, and Kapal Api, according information collected by Antara, here, Sunday.

The Indonesian companies participating at the largest import exhibition in China are mostly engaged in food and beverage industry, including swallow nests and its derivative products which are favored by Chinese people, as well as palm oil.

In addition to the 36 companies, there are 19 other Indonesian companies participating in the exhibition, including those which are exploring opportunities for exports to China.

The Indonesian Ambassador to China, Djauhari Oratmangun, hoped that the companies and associations participated in Shanghai exhibition could be better known in China and would have significant transactions.

"Of course we also hope to boost Indonesia`s exports to China. Especially with the status of the country of honor at CIIE, we hope there will be a lot of visitors coming to the Indonesian Pavilion," the ambassador said.

Through CIIE the Chinese government loosens its import policy. At the event the Chinese Ministry of Finance cuts tariffs for certain imported products.

Meanwhile, Indonesian Coordinating Minister for Maritime Affairs, Luhut Panjaitan and Indonesian Trade Minister Enggartiasto Lukito are scheduled to attend the event which is held in the richest city in China.

A week before the CIIE is held, security in Shanghai City is tightened. The number of security personnel, and protocols at airports, train stations, hotels and other vital objects is doubled.

The passengers checking at Pudong International Airport and Hongqiao International Airport using metal detectors is usually carried out once. Towards the international event, this procedure is conducted twice, namely, at the departure main door and the passenger`s identity card checkpoint.

Similarly, hotels in Shanghai are using metal detectors for every visitor when entering the building.

The atmosphere of CIIE can be seen in strategic places with light blue banners and mascots displayed at various places.

A giant e-commerce, Alibaba Group has launched the Indonesian Pavilion which showcases a number of superior products from Indonesia. These products are sold in an online sales platform, Tmall Global`s.

Reporting by M. Irfan Ilmie
Editing by Libertina Widya Ambari


Editor: Andi Abdussalam

COPYRIGHT © ANTARA 2018

 

[Nike]

53 Indonesian tourism companies participate in London travel market
Minggu, 4 November 2018 11:13 WIB - 5 Views

Reporter: Antara

World Trade Market (WTM) London (wtm.com)

London (ANTARA News) - As many as 53 Indonesian tourism industries consisting of hotels, tour operators, travel agents, and Destination Management Company (DMC) from seven provinces, namely, Jakarta, Bali, West Nusa Tenggara, East Nusa Tenggara, West Papua, West Java and Central Java, are participating in the 39th World Travel Market (WTM) in London.

The European Regional Marketing Development Assistant to the Ministry of Tourism, Agustini Rahayu, told Antara here Sunday that Indonesia`s participation in the tourism exhibition held on November 5-7 2018 would be beneficial for the Indonesian tourism industry.

The Indonesian Pavilion at the WTM will feature the traditional Phinisi ship as the focal point with a touch of traditional Balinese architecture.

Nine provincial administrations also displays the Indonesian Pavilion, namely, Lampung, Bali, Jakarta, Southeast Sulawesi, Central Java, West Papua, East Nusa Tenggara, Gorontalo and North Sumatra.

The increasing number of local administrations participating in the 2018 London WTM shows the high awareness to promote national tourism potentials, Agustini said.

The WTM is an important event to promote Indonesia`s tourism tagline of Wonderful Indonesia in achieving the target of foreign tourists, especially from the UK. From year to year, the business potential generated at the WTM London continues to increase.

In 2017, 3,521 Indonesian tour packages were sold, an increase from 2,132 packs in 2016. In 2018, 4,225 Indonesian tour packages are expected to be sold with an estimated foreign exchange potential obtained by Indonesia, amounting to Rp3.08 trillion (about US$205,979,620).

Some main programs at WTM London 2018 are B2B (sellers meet buyers) meetings, B2C (business meet customers), coffee corner and mixologist, spa, music and dance performances, awarding, and business meetings.

Agustini pointed out that Britain is still the country with the highest foreign tourist from Europe, followed by France, the Netherlands, Germany and Russia. From year to year, the number of British tourists visiting Indonesia shows a positive trend.

In 2016, there were 328,882 tourists from UK visited Indonesia and increased to 361,197 in 2017. In 2018, 390,000 British tourists are expected to visit Indonesia.

To reach the target, the Indonesian Ministry of Tourism in collaboration with the Indonesian Embassy in London and the UK VITO (Visit Indonesia Tourism Officer) are participating in the 2018 WTM London.

Although British tourists tend to prefer cultural tourism, Indonesia`s natural beauty, especially Bali, is still a favorite, Agustini Rahayu said.



Reporting by Zeynita Gibbons
Editing by Libertina Widya Ambari, Fardah

Editor: Andi Abdussalam

COPYRIGHT © ANTARA 2018

 

[Nike]

Indonesia`s open unemployment rate reaches 5.43 percent in August: BPS
Senin, 5 November 2018 21:58 WIB - 0 Views

Reporter: antara

Illustration. Thousands of job seekers scrambled for registration forms at the job fair arena in Curug, Serang, Banten, some time ago. (ANTARA PHOTO/Asep Fathulrahman)

Jakarta (ANTARA News) - The Central Bureau of Statistics (BPS) said Indonesia`s open unemployment rate was 5.34 percent in August 2018, down from 5.50 percent a year earlier.

"Unemployment rate dropped 0.16 percent but the gap is still wide between urban and rural areas," head of BPS Suhariyanto said in a news conference here on Monday.

In August, there were seven million jobless people among the country`s labor force or 40,000 smaller than in August 2017.

The open unemployment in August, 2018 was 6.45 percent in urban areas and 4.04 percent in rural areas.

In comparison with in August 2017, the open unemployment in August this year was 0.34 percentage point smaller in urban area and 0.03 percentage point higher in rural areas.

"The main cause is that there are fewer people wanting to work in the agricultural sector," Suhariyanto.

BPS has announced that Indonesia`s economy grew 5.17 percent in the third quarter of this year, higher than 5.06 percent in the same period last year.

Reporting by Calvin Basuki
Editing by Rahmad Nasution
Editor: Heru Purwanto

COPYRIGHT © ANTARA 2018

 

[trishna_amṛta]

Indonesia`s open unemployment rate reaches 5.43 percent in August: BPS
Senin, 5 November 2018 21:58 WIB

I'm pretty sure the real actual figure of unemployment is far higher than it was reported. For example I'm currently unemployment and seeking for employment, however because I'm still inside the 5% income tax (PPh 25) bracket I'm not listed as unemployment

 

[Nike]

I'm pretty sure the real actual figure of unemployment is far higher than it was reported. For example I'm currently unemployment and seeking for employment, however because I'm still inside the 5% income tax (PPh 25) bracket I'm not listed as unemployment

Well i will not give positive ranking for this post (Obviously), hell one million people is a lot not to mention seven million people (thats as much as a whole Singapore population plus 2 millions more to add and thats all not working ).

 

[Nike]

Port operator, Barata Indonesia cooperate to improve dwelling time
Selasa, 6 November 2018 09:08 WIB - 0 Views

Reporter: Antara

PT Barata Indonesia (Persero) in Gresik, East Java.

Jakarta (ANTARA News) - State-owned port operator PT Pelindo IV has cooperated with PT Barata Indonesia to improve and maintain the stability of the dwelling time at Makassar seaport, through the provision of lifting equipment transportation means at port.

The cooperation on the improvement of dwelling time was signed between Pelindo IV President Director, Farid Padang, and Hari Santoso, a director of Barata, according to a written statement received by Antara here on Monday.

Barata will have the opportunity to develop cranes for Indonesian Port IV. For Makassar New Port, Pelindo IV needs 32 cranes, consisting of 24 rubber-tyred gantry cranes and 4 shore to shore cranes.

President Director of PT Barata, Toni Budi Santosa, lauded the cooperation between the two state companies, which constitute a commitment to increase local products in the government`s strategic projects.

According to the plan, Barata will take part in the development of cranes belonging to Pelindo IV in Makassar New Port.

Santosa remarked that the cooperation is a form of support by Barata Indonesia towards the government`s sea toll program, namely meeting transportation need through the acceleration of port development, including its facilities.

Barata has prepared itself in developing port lifting and transporting business, both in the construction of crane and conveyor product units complete with maintenance packages, as well as in terms of production facilities.

In 2018, Barata invested in purchase of supporting machines and also expanded its production / fabrication area.

Previously, Barata had also built several cranes to meet the needs of several ports in Indonesia, including container cranes for Makassar port, rubber-tyred gantry cranes for Teluk Bayur Port, rail-mounted harbor cranes for ports in Kalimantan, and several overhead cranes for industrial needs.

At present, Barata is building three units of rubber-tyred gantry cranes for Pelabuhan Indonesia III, which is also a synergy product between state-owned companies (SOEs).

Reporting by Afut Syafril Nusyirwan
Editing by Andi Abdussalam
Editor: Fardah Assegaf

COPYRIGHT © ANTARA 2018


Barata Indonesia made it big under Silmy Karim, he is truly an opportunist and have golden hand. First he grab order from Ministry of agriculture and forestry to producing simple hoe and other simple farming tools, then he made move to grab order from other SOE to repairing their heavy equipment its simple yet quite profiting project. After that he made move to acquire Indonesia Siemens plan to acquire heavy engineering capabilities to build , repairing, overhaul and maintenance of gas turbin engine.

I think it will not long for PT BARATA to acquire capabilities to producing heavy engines for Ships building industry and became capable player in the region.

 

[Indos]

Barata Indonesia made it big under Silmy Karim, he is truly an opportunist and have golden hand. First he grab order from Ministry of agriculture and forestry to producing simple hoe and other simple farming tools, then he made move to grab order from other SOE to repairing their heavy equipment its simple yet quite profiting project. After that he made move to acquire Indonesia Siemens plan to acquire heavy engineering capabilities to build , repairing, overhaul and maintenance of gas turbin engine.

I think it will not long for PT BARATA to acquire capabilities to producing heavy engines for Ships building industry and became capable player in the region.

Silmy Karim is now signed to lead Krakatau Steel. I hope he can improve Krakatau steel performance, including its R&D, make it profitable again and then go back to Barata, make Barata like Hyundai or Mitsubishi Heavy Industries and produce any kind of turbine engine, including jet engine for our (possible) cruise missile and hopefully start to research how to make a jet engine for aircraft. PT Dirgantara if successful to build N 245 and N 270 needs to develop jet engine for civil aircraft. We can use the engine made by ourselves for our jet airplane. Of course it is a very big dream

We have already had a company (investment from India/PT Trimex) that produce titanium in Indonesia so producing titanium metal for jet engine is the next step for our industrialization. We just need a company who have a knowledge in producing turbine. PT Nusantara Turbine can also be assigned to produce it as it know both turbine production and jet engine know how.

As we know, we are currently researching jet engine for cruise missile, we need a factory to mass produce it once the prototype is ready for mass production.

 

[Bungaterakhir]

New data reveals uptick in private investment in EMDEs in 2017
source : http://blogs.worldbank.org/ppps/new...stment-emdes-2017?cid=ECR_TT_worldbank_EN_EXT

The recently-launched data from the PPI Database for the year 2017 marks an increase of 37 percent in investment levels from 2016 levels. Yet, it remains the second lowest level of investment in the past 10 years and is 15 percent lower than the past 5-year average investment level. On closer examination, the increase over 2016 levels is attributable to a few megaprojects in China and Indonesia as well as a recovery in South Asia, led mainly by Pakistan. Also notable is the fact that the average project size increased by 26 percent in 2017, with some 20 megaprojects averaging $2.4 billion per project and accounting for 51 percent of the total PPI investment.

Energy continues to dominate sectoral investments, but transport investments doubled with three railway megaprojects, and the newly introduced ICT backbone also saw a sharp increase. The transport sector investments almost doubled from $18.8 billion in 2016 to $36.5 billion in 2017, largely due to mega-projects such as the $6.8 billion worth high-speed railway (HSR) project in China, ]another $6.0 billion HSR project in Indonesia and a $3.1 billion monorail project in Thailand. For ICT backbone sector, the investments grew from only $462 million in 2016 to $3.0 billion in 2017 due to two megaprojects in network infrastructure development.

How different countries fared in 2017

• Fifty-two countries received PPI investments, which is a significant increase over the 2016 levels at 37 countries and a past 5-year average of 41.
• China, Indonesia, Mexico, Brazil and Pakistan were the top five investment destinations and together attracted 58 percent of global investments.
• Barring Mexico, with a share of commercial financing of 63 percent, for all the other top five investment destinations the share of commercial financing is quite low with Indonesia raising only 23 percent of its total debt as commercial finance, Pakistan—only 7 percent and Brazil—only 4 percent.
• Egypt saw an unprecedented number of projects, while Brazil, Colombia and Turkey saw a sharp drop in the number of projects.
• Investments in the world’s poorest countries reached 8.5 percent of global investments in 2017 compared to 4.3 percent in 2016, with $7.9 billion worth of investments across 35 projects in 17 countries compared to the past 10-year average of 14 countries.

 

[Nike]

Foreign Direct Investment Fell Sharply in Q3-2018; Are Foreign Investors Losing Confidence in Indonesia?
31 October 2018 |

• Foreign Direct Investment
• Investment
• FDI
• BKPM

The legislative and presidential elections that are scheduled for April 2019 seem to have a big impact on direct investment realization in Indonesia this year. Based on the latest data from the Investment Coordinating Board (BKPM), foreign direct investment (FDI) realization dropped 20.2 percent year-on-year (y/y) to IDR 89.1 trillion (USD $5.9 billion) in the third quarter of 2018. This constitutes the third consecutive quarterly decline in FDI realization in Indonesia.

But remarkably, domestic direct investment (DDI) realization surged 30.5 percent (y/y) to IDR 84.7 trillion (approx. USD $5.6 billion) in the third quarter of 2018. Therefore, we detect a major difference between foreign and domestic direct investment realization so far in 2018: while FDI has been declining markedly since the first quarter of 2018, DDI has in fact continued its growing trend (see table below).

Foreign and Domestic Direct Investment in Indonesia:


FOREIGN DIRECT INVESTMENT
(IN IDR TRILLION)
Q1
2017
97.0↓
Q2
2017 109.9↑
Q3
2017 111.7↑
Q4
2017 112.0↑
Q1
2018 108.9↓
Q2
2018 95.7↓
Q3
2018 89.1↓
DOMESTIC DIRECT INVESTMENT
(IN IDR TRILLION)
Q1
2017
68.8↑
Q2
2017 61.0↓
Q3
2017 64.9↑
Q4
2017 67.6↑
Q1
2018 76.4↑
Q2
2018 80.6↑
Q3
2018 84.7↑
TOTAL DIRECT INVESTMENT
(IN IDR TRILLION)
Q1
2017
165.8↑
Q2
2017 170.9↑
Q3
2017 176.6↑
Q4
2017 179.6↑
Q1
2018 185.3↑
Q2
2018 176.3↓
Q3
2018 173.8↓
Source: BKPM

What is remarkable is that the value of DDI and FDI were not far apart in Q3-2018. This is in stark contrast to the usual situation (where the value of FDI - by far - outpaces the value of DDI) and if this recent trend continues, then the value of DDI will outpace the value of FDI in the last quarter of 2018. While it is positive that Indonesia becomes less dependent on FDI in terms of direct investment realization, it is obviously not a positive development to see FDI contracting for three consecutive quarters.

 

[Nike]

Textile industry still requires skilled workers
Rabu, 7 November 2018 14:53 WIB - 0 Views

Reporter: Antara

Participants of textile industry scholarship program of the ministry of industry attend a training practice at Surakarta Textile Products and Textile Community.(ANTARA FOTO/Maulana Surya)

Bali (ANTARA News) - The Ministry of Industry continues to strengthen human resources to support the Textile and Textile Products (TPT) industry that still requires several skilled workers.

"The TPT industry is one of the priorities in its development, as it is a labor-intensive and export-oriented sector," Industry Ministry Secretary General Haris Munandar remarked in his statement received here on Tuesday.

The TPT industry is one of the five manufacturing sectors designated as pioneers in the readiness to enter the era of the fourth industrial revolution according to the road map of Making Indonesia 4.0.

Referring to the Ministry of Industry`s record, the textile industry in the country has absorbed as many as 3.58 million people, or 21.2 percent of the total workforce in the manufacturing industry today.

Furthermore, the TPT industry is one of the significant foreign exchange earners through an export value of US$6.48 billion in the second quarter of 2018.

"The textile industry has a strategic role, as the products manufactured from raw materials (such as fiber) to consumer goods (ready-made clothing and finished goods) have a good relationship between industries and other economic sectors," Munandar explained.

Hence, in order to further boost the competitiveness of the national textile industry in the global arena, STTT Bandung Polytechnic, as one of the education units of the Ministry of Industry, always focuses on producing skilled human resources in accordance with the needs of the textile industry that can keep abreast of the latest technological developments.

This year, STTT Bandung Polytechnic has produced 369 graduates comprising 286 graduates of the Diploma IV or Applied Bachelor Program and 83 graduates of the Diploma I Program in collaboration with the textile industry associations and companies.

"As many as 70 percent of the graduates have been absorbed in the industry before the three-month graduation period. We hope that in the next three to six months, all graduates would be working or pursuing a high-level education program," Munandar remarked.

Reporting by Sella Panduarsa Gareta

Editing by Otniel Tamindael
Editor: Yosep Hariyadi

COPYRIGHT © ANTARA 2018

 

[Nike]

WCEE 2018 produces "Bali agenda for creative economy"
Rabu, 7 November 2018 21:52 WIB - 1 Views

Reporter: Yuni Arisandy Sinaga

A visitor watches a barrista brewing coffee at CreatiVillage pavillion at World Conference on Creative Economy (WCCE) in Nusa Dua, Bali, on Tursday 6/11/2018). ANTARA FOTO/Fikri Yusuf/hp.

Jakarta (ANTARA News) - The first World Conference on Creative Economy (WCCE), held by Indonesia in Nusa Dua, Bali, has produced an outcome document entitled "Bali Agenda for Creative Economy," as stated in a written statement from the Ministry of Foreign Affairs received here on Wednesday.

The outcome document contains commitments and aspirations of the participants of the Conference, namely the establishment of the Center of Excellence for Creative Economy in Indonesia. The Center of Excellence will function as a platform for creative economic stakeholders from around the world to connect ideas, resources, information, and business concepts.

"In this era of globalization and advanced technology, the creative industry has become a game changer. As one of the most dynamic sectors, creative economy contributes significantly to the economic growth in many countries," the Chairman of Indonesian Agency for Creative Economy (Bekraf), Triawan Munaf stated.

For Indonesia, the creative economy sector has contributed to more than 7.4 percent of Indonesia`s Gross Domestic Product (GDP). The creative economy industry has absorbed nearly 17 million workers, which are 14 percent of the total workforce, and more than 54 percent of creative economy workers are women.

Go-Jek, Traveloka, Tokopedia, and Buka Lapak are Indonesian startups with "unicorn" status, or companies that have assets worth one US$1 billion or more. Experts on Creative Economy have predicted that Indonesia will produce more "unicorns" in the future.

In the WCCE 2018, several Memorandum of Understanding (MoU) were signed, both on a national and international scale. It is hoped that the MoU signing will strengthen more inclusive collaboration between all stakeholders to encourage greater access to creative economic sectors in various regions in Indonesia at a global level.

The government of Indonesia believed that it is important for creative economy to have global attention since creative economy is believed to be one of most effective tools which can help countries meet their commitments under the Sustainable Development Goals 2030.

The results of the WCCE 2018 will be a landmark in mainstreaming creative economic issues in the multilateral realm towards the plan to propose a draft resolution on world creative economy, which has entered the era of 4.0, at the United Nations General Assembly in the future.

WCCE is recognized as an attractive global platform for the creative economy industry. The participants from various countries applauded Indonesia`s initiative to hold the WCCE event. On the occasion, the United Arab Emirates proposed to host the next WCCE event, which is planned to be held on 2020.

Indonesia`s Minister for Foreign Affairs, Retno LP Marsudi, and Chairman of Bekraf, Triawan Munaf, officially opened the first WCCE in Nusa Dua, Bali, on Wednesday (Nov 7).

Initiated by the Ministry of Foreign Affairs and the Indonesian Agency for Creative Economy (Bekraf), WCCE is the first of its kind, a conference on creative economy that gathers all related stakeholders of creative economy, including academics, business, community, government, and media.


Editor: Yosep Hariyadi

COPYRIGHT © ANTARA 2018

 

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