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Malaysia, Indonesia aim to double trade value
  • The Jakarta Post
Jakarta | Tue, August 2 2016 | 08:56 am

Malaysian Prime Minister Najib Bin Haji Tun Abdul Razak has said he wants to double trade with Indonesia to US$30 billion in the coming years.

Last year, trade between the two countries was valued at $16.6 billion. As of April this year, trade value reached $4.58 billion.

"Malaysia is Indonesia's second best investor and we want to boost trade to reach $30 billion in the following years," Najib said during a visit to the State Palace on Monday.

To meet the target, the two countries agreed to revitalize the Joint Trade and Investment Committee (JTIC) agreement, enhance business-to-business communication and expand market access.

The second JTIC was held in Jakarta on June 29-30 with several agreements signed, including on a review of the border trade agreement.

Malaysia is among the five top countries injecting foreign direct investment (FDI) into Indonesia after Singapore, Japan, the Netherlands and the United Kingdom, with a value of $1.78 billion in 448 projects.

Najib said the country wanted to increase investment in Indonesia, including in road and property projects. (dmr)

Malaysia is currently "core player" in palm oil plantation and banking in Indonesia with market share of 70% for palm oil plantation (owned by Malaysian) and almost 30% for banking (through May Bank and CIMB)...

Malaysia is also the largest trading partner of Indonesia in ASEAN....

Currently, almost 5 million TKI's (legal or illegal) worked in Malaysia. and these TKIs transferred at least USD5 billion of funds to their families (to feed almost 15 million people in Indonesia)) in Indonesia annually ...

So, it would be very nteresting to hear a news that President Jokowi invited and issued his approval to allow our corporates to make a join venture and/or to take over the majority ownership of your state banks (like BNI or Mandiri) and also your other state owned companies like Angkasa Pura I and II, PINDAD, PTPAL, PTDI, Pertamina, PLN, PGN,, Garuda, Jasa Marga, Hutama Karya, Waskata Karya, PELNI, and many others :victory:
 
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August 2, 2016 2:30 am JST
Pertamina to buy stake in French oil giant, boost African footprint
ERWIDA MAULIA, Nikkei staff writer


JAKARTA -- Indonesian oil and gas company Pertamina has agreed to purchase a 24.53% interest in French peer Maurel & Prom in a deal estimated at nearly $200 million.

Pertamina, now fully owned by the government, will gain a greater presence in African oil and gas assets as the company aims to "enhance its upstream footprint around the world." Indonesia's largest oil company said Monday it will buy the stake in M&P from shareholder Pacifico at 4.20 euros ($4.70) per share, plus a potential 0.5 euro per share depending on crude oil prices next year.



Outside Indonesia, Pertamina owns oil and gas exploration and production assets in Algeria, Iraq and Malaysia.

M&P, which is listed on Euronext Paris, conducts most of its business in Africa via production in Gabon and Tanzania as well as through a 21.37% stake in Seplat Petroleum, a leading Nigerian operator.

"Our main approach to meet national energy needs is through acquisition of productive assets -- inside and outside the country," Pertamina spokeswoman Wianda Pusponegoro said Monday.

She said M&P's "highly experienced" teams are expected to contribute to the success of "this impressive stride" by Pertamina to ensure Indonesia's energy security. The deal comes as domestic oil production continues to decline.

M&P said Pertamina will make the French company its "international development platform."

Pacifico and Pertamina said the transaction is subject to approvals from the relevant regulatory authorities.

Pertamina also is in the process of acquiring state-owned listed Indonesian gas distributor Perusahaan Gas Negara. Indonesia's government is looking to group state-owned companies with similar business portfolios under the same holding company.

http://asia.nikkei.com/Business/Dea...e-in-French-oil-giant-boost-African-footprint
 
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Tiremaker Multistrada Hosts Guinea President, Talks Export Deals
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Jakarta.
Multistrada Arah Sarana, Indonesia's listed tire maker, hosted Guinea President Alpha Condé and his delegates at its plant on Monday (01/08) to discuss possible exporting deals.

"As the national tire producer, we have the capacity to produce 28,500 car tires per day and 16,000 motorcycle tires per day at Multistrada's 55-hectare plant in Cikarang," Multistrada Arah Sarana deputy president director Sukarman said.

Multistrada exports tires to the United States, Europe, Japan, Southeast Asia, Australia and the Middle East, but is yet to export to the West African country.

Guinea, home of around 12 million people, imported $22.8 million worth of tires last year from all over the world, proving itself a lucrative market for tire makers, according to data provided by Multistrada.

President Alpha Condé is in Jakarta to attend the 12th World Islamic Economic Forum, which aims to foster economic cooperation within the Muslim world.

Indonesia has been trying to diversify its export destinations for natural commodities and manufactured goods to counter weak demand from major markets like China, Japan, the United States and Europe.

Indonesia has been selling more goods to Guinea than importing from it, making the country a potential trade partner for improving export performance.

Total trade between both countries reached $44.1 million in 2015, down 11.21 percent from 2014, data from the Ministry of Trade showed. In January-May this year, Indonesia exported $13.6 million worth of goods to Guinea and imported $526,600.
http://thejakartaglobe.beritasatu.c...romotes-local-tire-industry-guinea-president/
 
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Indonesia, Australia receive report from businesses
Selasa, 2 Agustus 2016 20:26 WIB | 93 Views

Jakarta (ANTARA News) - Indonesian Trade Minister Enggartiasto Lukita and his Australian counterpart Steven Ciobo met the Indonesia-Australia Business Partnership Group (IA-BPG), which was re-launched earlier this year.

"Today, I will meet Indonesian Minister for Trade Enggartiasto Lukita, as we work towards realizing a free trade agreement," Minister Ciobo noted in a press release received in Jakarta on Tuesday.

The outcome of the Economic Partnership Agreement has resulted in the reactivation of the IA-BPG, which serves as a platform to bring together businesses from both countries.

Recommendations from the group, which comprise Indonesian and Australian Chambers of Commerce, Apindo, Ai Group, Indonesia-Australia and Australia-Indonesia Business Councils, will help offer future momentum and encourage negotiations for establishing the agreement, the minister affirmed.

The report received today, which is a follow up to the original report released in 2012, provides detailed information on opportunities to further strengthen relations between Indonesia and Australia in terms of trade and investment.

"The group, representing Indonesian and Australian businesses working together, has delivered a shared view of the potential significant commercial, trade, and economic benefits that the agreement can deliver, and it reflects the spirit of the Partnership Agreements negotiations," the minister remarked.

The report received today contains recommendations of partnership initiatives to develop several areas in Indonesia, including red meat and cattle, financial services cooperation, and collaboration in fashion, jewelry, and other creative industries.(*)

http://www.antaranews.com/en/news/106039/indonesia-australia-receive-report-from-businesses

Tax amnesty not only for conglomerates: Jokowi
Selasa, 2 Agustus 2016 00:36 WIB | 777 Views

Jakarta (ANTARA News) - President Joko Widodo (Jokowi) said tax amnesty is offered not only to conglomerates but also to small and medium enterprises.

"Tax amnesty policy concerns only taxation. Dont politicize the policy," Jokowi said addressing around 10,000 business leaders attending the government campaign to socialize the tax amnesty program.

Finance Minister Sri Mulyani Indrawati, Chief Commissioner of the Financial Service Authority (OJK) Muliaman Hadad, general chairman of the Indonesian Business Association (Apindo) Haryadi Sukamdani, Attorney General H.M. Prasetyo, Police chief Gen. Tito Karnavian and head of the Indonesian Financial Transaction Reports and Analysis Center (PPATK) M. Jusuf were also present to accompany the president.

Jokowi said the opportunity is open only until March 2017 to make use of the tax amnesty policy as in 2018, tax information will be all open between countries.

He guaranteed the confidentiality of data about tax payers using the tax amnesty program.

"The data may not be used for legal investigation and may not be given to anyone. One found leaking the data is facing a punishment of up to 5 years in jail," he warned.

He said support from law enforcement agencies including the attorney general, police chief and head of PPATK is clear for the tax amnesty policy.

The president said with the tax amnesty the country could hope to finance its development program with funds from the private sector.

"Construction of toll roads, and seaports do not have to be financed with funds from the state budget. The state funds could then be used more for rural development, health care , educations, etc. That is the program," he said.

He also said the national currency rupiah would also gain more strength as a result of the tax amnesty policy.

"The rupiah value would be controlled by the central bank that our exports would be more competitive," he added.(*)

http://www.antaranews.com/en/news/106030/tax-amnesty-not-only-for-conglomerates-jokowi
 
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Industry minister strengthens Indonesia-Switzerland cooperation

http://www.antaranews.com/en/news/1...strengthens-indonesia-switzerland-cooperation

Jakarta (ANTARA News) - Industry Minister Airlangga Hartarto has strived to strengthen the cooperation between Indonesia and Switzerland in the industry sector.

The cooperation show a significant growth since the establishment of the diplomatic relationship between the two countries in 1952.

"Switzerland has chosen Indonesia as one of the priority countries in economic cooperation, including partnership in the industry sector," said Hartarto in a press conference in Jakarta, Tuesday.

In terms of capital investment, Switzerland placed Indonesia in the fourth place in the list of priority investment destination in Asia.

Ministry of Industry noted that in 2015 the value of Indonesia-Switzerland trade experienced a significant increase of 124 percent compared to the year prior as it reaches US$1.7 billion.

"Meanwhile, Indonesias export to Switzerland reached US$1.07 billion and Indonesias import from Switzerland reached US$0.63 billion," he revealed.

In the future, the Minister is confident that the economic cooperation between the two countries will only get stronger as the Swiss government has stated their willingness to support Indonesia in the industry sector, especially Small and Medium Industries (SMIs), agriculture industry and the implementation of vocational education.

"Switzerland is one of the European countries with an advanced industry sector and Indonesia needs to learn about the usage of technology and the development of human resources for industrial purposes that are implemented by the country," he said exuding optimism.

Hartarto also encourage Swiss businesspersons to invest more in Indonesia especially in the pharmacy, bio-energy and manufacturing sectors.

"This is one of the efforts to execute President Joko Widodos directives regarding industrial equalization in the regions outside of Java islands as well as border areas," he added.

On the same occasion, the Industry Minister expressed his appreciation towards Swiss government and businesspersons who have been contributing to Indonesias industrial development.

"We will open partnership opportunities that will be beneficial for both parties," he reiterated.

Similar statements were also made by Swiss Ambassador for Indonesia Yvonne Baumann who deliver his appreciation towards Indonesias government for establishing economic policy packages that ease the Swiss investors way to do business in Indonesia.

"Up until today some 150 Swiss corporations are operating in Indonesia, absorbing up to 60,000 local labor. We are hoping to continue to be business partners for the corporations in Indonesia," he explained.

Yvonne admitted that Indonesia have an alluring market potentials due to its large number of citizens.

"It makes sense that a lot of countries are interested in establishing partnership (with Indonesia), including Switzerland," he added.

Meanwhile, a spokesperson from the International Access Development in the Ministry Harjanto said that the economic cooperation between the two countries have been implemented in a number of sectors including cultivation, tourism, agriculture, education and aviation industries.

The bilateral relationship that continue to grow stronger is marked by the implementation of work initiatives that are beneficial for both parties.

"At the moment, Comprehensive Economic Partnership between Indonesia and Switzerland is being negotiated in the form of Indonesia and European Free Trade Association (EFTA), where Switzerland is a member," he said.

The negotiation is compiled in a package named Indonesia-EFTA Comprehensive Partnership Agreement (IE-CEPA).

"We are hoping that the negotiation will go on smoothly and create economic benefits for both countries," Harjanto concluded.



Pertamina acquires French oil company

http://www.thejakartapost.com/news/2016/08/02/pertamina-acquires-french-oil-company.html

State-owned energy giant PT Pertamina announced on Monday the acquisition of France-based oil company Maurel et Prom with the purchase of 24.53 percent of its shares from Pacifico.

Pertamina vice president of corporate communications Wianda Pusponegoro said the acquisition was part of Pertamina's strategy to bolster its upstream footprint around the world.

"This impressive step demonstrates Pertamina’s strong commitment to ensure Indonesia’s energy security," Wianda said Monday.

Pertamina signed an agreement with Pacifico to purchase 24.53 percent of Pacifico's share in Maurel et Prom for a price of 4.20 euros per share plus a potential 0.50 euro earn-out per share.

The earn-out will be paid if, from Jan. 1 to Dec. 1, 2017, the Brent price remains above US$65 per barrel during all trading days within a period of 90 consecutive calendar days. The completion of the transaction is subject to regulatory approval from relevant authorities.

Maurel et Prom is an independent oil company engaged in the extraction and production of hydrocarbons, listed on Euronext Paris and headquartered in Paris with a market capitalization of 550 million euros.

The group carries out most of its business in Africa through the exploitation of onshore production assets in Gabon and Tanzania, as well as a 21.37 percent stake in Seplat Petroleum, one of the leading indigenous operators in Nigeria with a production of 43.4kboe/d in 2015.



Indonesia eyes more economic cooperation with Morocco

http://www.thejakartapost.com/news/...s-more-economic-cooperation-with-morocco.html

Indonesia aims to increase cooperation with Morocco amid growing economic ties between the two countries, a minister said on Saturday.

Economic ties with Morocco are "expanding and encouraging", Public Works and Public Housing Minister Basuki Hadimuljuno said, explaining that trade between the two countries reached US$ 214.32 million in 2015.

“We will jointly explore opportunities to enhance economic cooperation between the two countries," he said at the Moroccan National Day reception in Jakarta on Saturday night.

Morocco is Indonesia’s seventh-biggest trading partner in Africa. With its more than $100 billion gross domestic product (GDP) and population of 35 million people, the regional power in North Africa is a promising market as well as a gateway to both African and European countries for Indonesian products and investment, as it is located less than 100 kilometers from Spain.

Indonesia's exports to Morocco over the years include palm oil, furniture, coal, spices, garments and glassware. In recent years, Indonesia added more products to its exports to the North African country such as instant noodles, green tea and coffee.

Publicly listed food giant Indofood is building a US$5 million instant noodle factory in Morocco, its largest factory outside Indonesia, set to begin operation in September or October, Basuki said.

Morocco also serves as an important partner in Indonesia's agricultural sector as it is home to more than 70 percent of world’s phosphate, a main ingredient in fertilizers and reserves. Indonesia imports phosphate, fertilizers, chemicals, oranges, iron and steel products from the country.

Echoing a similar view, Moroccan Ambassador to Indonesia Mohamed Majdi praised relations between the two countries, calling them “excellent”.
 
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RI, Qatar discuss increased investment
Rabu, 3 Agustus 2016 01:02 WIB | 462 Views

Jakarta (ANTARA News) - Indonesian President Joko Widodo (Jokowi) received Qatari Economic and Trade Minister Sheikh Ahmed bin Jassim Al Thani at the Merdeka Palace here on Tuesday to discuss a variety of potentials to increase Qatari investment in Indonesia.

"The most important thing is the investment sector. As we all know Qatar has the highest sovereign wealth fund in the world. There has been high commitment on the part of Qatar to further increase its investment in Indonesia," Indonesian Foreign Minister Retno Marsudi said at the Merdeka Palace here on Tuesday.

President Jokowi received a courtesy call from Sheikh Ahmed at the Merdeka Palace at around 04.00 p.m. local time, an ANTARA journalist observed.

Retno said most of Qatari companies currently invest in the telecommunication, banking and retail sectors in Indonesia.

The president also briefed the Qatari minister on 12 economic policy packages the government has issued since September 2015 to ensure the ease of doing business and investing in Indonesia.

"We plan to send an Indonesian delegation particularly to disseminate the 12 economic reform packages," Retno said.

At the 30-minute meeting, both Jokowi and Ahmed also agreed to hold a joint commission meeting in 2017.

"The meeting is aimed at following up on the result of the Indonesian delegations visit (to Qatar) which will take place later this year," the foreign minister said.

Also on Tuesday, the president received two senior officials from Malaysia and Jordan who came to Indonesia for the 12th World Islamic Economic Forum (WIEF) held at the Jakarta Convention Center (JCC) from August 2 to 4. (*)

http://www.antaranews.com/en/news/106047/ri-qatar-discuss-increased-investment
 
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Indonesia, Malaysia mull to establish World Sharia stock market center
August 3, 2016
By Philippine News Agency/Xinhua


JAKARTA, August 2 — Executives of Indonesian and Malaysian stock markets signed on Tuesday a Memorandum of Understanding (MoU) document on the establishment of a World Sharia Stock Market Center, aimed at spurring growth potential of Sharia financial market particularly in stock market.

Signing of the document was conducted by Indonesia Stock Exchange President Director Tito Sulistio and his Malaysian counterpart Tajuddin Bin Atan on the first day of 12th World Islamic Economic Forum (WIEF) held in Indonesia’s capital landmark convention center of JCC.

“Through the cooperation, we expect Indonesian and Malaysian stock markets would continue their joint efforts in developing Sharia portfolio instruments and Sharia products in stock market which would eventually become the references in global level,” Tito said on the sidelines of the signing ceremony.

Besides serving as the center to develop Sharia products and portfolios for stock markets, the planned World Sharia Stock Market Center would also serve as a research and development center to create micro market structure for global Sharia stock market.

“Besides that, we also planned to make the center the place to train human resources working in Sharia stock markets to become competent, professional and skillful persons in the industry and becoming the ultimate gate to issue Sharia portfolios for global market,”Tito added.

In 2014, global Sharia financial market was estimated to have USD 1. 81 trillion of assets or 9.69 percent higher than that of a year earlier that stood at USD 1.65 trillion, according to a report compiled by State of the Global Islamic Economy published in 2015.

Of that 2014 figure, USD 295 billion was the outstanding value of Islamic bonds that saw 6 percent growth annually.

Global Sharia financial market was estimated to expand to USD 3.24 trillion by 2020.
 
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What about natuna?Have any new info?

Diminta Garap Blok East Natuna, Pertamina: Kami Ambil Minyaknya Dulu
PT Pertamina (Persero) diminta Pemerintah segera melakukan aktivitas di kawasan Blok East Natuna. Selain dikarenakan cadangan gas dan minyaknya yang melimpah, aktivitas yang dilakukan di wilayah ini nantinya dapat menjadi pembuktian eksistensi Indonesia terhadap perairan yang tengah jadi polemik itu.

Natuna Gas & Oil field
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Direktur Utama Pertamina, Dwi Soetjipto, mengatakan pihaknya sudah menyatakan komitmen untuk menggarap blok migas tersebut. Namun dengan kompleksitas pengelolaan gas karbon CO2 di East Natuna, membuat Pertamina harus mengakali tekhnologi sekaligus investasi yang terbilang lebih mahal ketimbang blok-blok lainnya.

"Jalan keluar yang sudah ditetapkan Kementerian ESDM kita mulai dengan minyaknya dulu. Dan memang utilisasi, kita akan segera bergerak ambil minyaknya dulu. Sementara gasnya mungkin akan didiskusikan lagi,"

readmore: http://finance.detik.com/read/2016/...st-natuna-pertamina-kami-ambil-minyaknya-dulu
 
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Soekarno-Hatta's new Terminal 3 to open Aug. 9
  • Ayomi Amindoni
    The Jakarta Post
Jakarta | Wed, August 3 2016 | 11:21 am
2016_07_05_7619_1467684915._large.jpg
Passengers wait for their departure in one of boarding halls of Terminal 3 Soekarno-Hatta International Airport in Tangerang, Banten, recently. State airport operator Angkasa Pura II said that the new terminal was scheduled to operate fully on Aug. 9.(The Jakarta Post/wienda parwitasari)
Topics
State airport operator Angkasa Pura II (AP II) has set Aug. 9 as the start of operations for the newly built Terminal 3 at Soekarno-Hatta International Airport in Tangerang, following the Transportation Ministry’s evaluation of the terminal expansion.

National carrier Garuda Indonesia will start serving domestic flights through the new terminal, AP II's head of corporate secretary and legal, Agus Haryadi, said on Tuesday.

"Coordination is ongoing with all stakeholders, especially Airnav Indonesia and Garuda Indonesia, to ensure the operation runs smoothly. We are optimistic the operation of Terminal 3 will be able to support the existing terminals in accommodating passenger traffic so as to improve service and convenience at Soekarno-Hatta Airport," Agus said in a statement.


Garuda Indonesia corporate communications head Benny S. Butarbutar added that the carrier would initially only use the terminal for domestic flights, but in the future the terminal would also serve international flights.

"Garuda expects that all customers will be able to enjoy our facility and service standard improvement through the new terminal with a capacity of 25 million passengers," he said. (dmr)
http://www.thejakartapost.com/news/2016/08/03/soekarno-hattas-new-terminal-3-to-open-aug-9.html
still waiting for the railway to finished....
 
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Jokowi and Sri Lankan PM Discuss Anti-Terrorism, Procuring Indonesian Goods

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Jakarta. President Joko “Jokowi” Widodo met with Sri Lankan Prime Minister Ranil Wickremesinghe in an effort to strengthen Indonesia's bilateral partnership with Sri Lanka, at the Merdeka Palace, Jakarta on Wednesday (03/08).

Discussions between Jokowi and Wickremesinghe focused on anti-terrorism and exporting Indonesian-made train carriages to Sri Lanka.

Foreign Minister Retno Marsudi, who was also at the meeting, said that both leaders agreed to enhance anti-terrorism and anti-extremism efforts.

“With every discussion on countering extremism, radicalism and terrorism, Indonesia is always at the forefront to [foster] partnerships, being the largest Muslim country in the world and at the same being tolerant and capable of practicing moderate Islam,” Retno said in a statement.

Transportation

Jokowi also personally addressed the media saying that he had offered to export Indonesian-made train wagons to Sri Lanka, adding that Indonesia is already currently exporting its products to Bangladesh through state-owned train manufacturer, Industri Kereta Api (INKA).

“We are sending train wagons from INKA to Bangladesh. Now, we have pitched the idea to Sri Lankan [officials], requesting that Prime Minister Ranil give attention to Indonesian products and he seems to have given the green light,” Jokowi said.


The president said this marks the first step in Indonesia’s efforts to penetrate potential foreign markets in exporting Indonesian goods, with the hope to penetrate larger markets in the future.

“We are in a position to study several potential countries [to export Indonesian goods], but we have never penetrated their markets, and this is what we have begun to do,” Jokowi explained.

In May this year, Jokowi met with Sri Lankan President, Maithripala Sirisena, during a work visit to Japan, where Jokowi discussed Indonesia’s interest to participate in Sri Lanka’s economic development, with particular interest in Sri Lanka procuring Indonesian-made train carriages.
http://thejakartaglobe.beritasatu.c...ss-anti-terrorism-procuring-indonesian-goods/
 
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Central bank against credits for motor vehicles without down payment
Kamis, 4 Agustus 2016 15:05 WIB | 550 Views

Jakarta (ANTARA News) - Bank Indonesia said it does not agree with plan of the Financial Service Authority (OJK) to scrap regulation requiring financing companies to provide motor vehicle credit without down payment.

In September 2013, the central bank issued a regulation requiring a 25 percent advance payment for motorcycles and 30 percent for non commercial four wheel motor vehicles.The advance payment is 20 percent for the purchase of commercial four wheel motor vehicles.

The central bank issued the regulation to prevent an increase on non performing credits (NPL) amid the economic slowdown.

Bank Indonesia Governor Agus Martowardojo said for the sake of prudential aspect financing companies are not advised to finance motor vehicle purchases without down payment.

"There is always down payment in financing," Agus said here on Wednesday night.

Agus said he had not been informed of the plan directly by OJK, adding he planned to seek a meeting with OJK to discuss the plan.

Bank Indonesias Executive Director for Macro Economy and Monetary Affairs Juda Agung said the policy scrapping down payment regulation could result in a rebound in automotive market.

"But , it is necessary to consider the risk of a rise in NPL, which is potential to undermine the healthiness of the financing companies. We must be careful in maintaining balance between financial stability and growth," he said.

Last week, OJK announced plan to scrap the regulation requiring advanced payment for the purchases of motor vehicles with credit.

However, only those - corporate or individual clients - having good track record, are entitled to the facility and not all financing companies are allowed to give the facility, an OJK executive Firdaus Djaelani said.

Only financing companies having low NPL of less than 1 percent in three consecutive months are allowed to give the facility, Firdaus added.

He said the policy is to help recover automotive market, which has been hit by slump as a result of the advance payment restriction amid falling purchasing power of the people.

"We want to lift the automotive industry from the deep slump, but indirectly we also want to boost financing industry," he said.

He said OJK would announce a regulation to provide a legal basis for the decision this month.

He said OJK would likely start authorizing only 10-15 of 270 financing companies to give the facility of offering financing without down payment.(*)

http://www.antaranews.com/en/news/1...edits-for-motor-vehicles-without-down-payment

Arabian investor to build Muslim resort in Lombok
Kamis, 4 Agustus 2016 15:02 WIB | 503 Views

Jakarta (ANTARA News) - Akmal Saleem, an investor from Saudi Arabia, will build an Islamic tourist resort for Muslim holidaymakers on one of the islands in Lombok, West Nusa Tenggara Province.

"This resort will be built for Muslim families around the world, so they can enjoy their holidays but still experience a spiritual ambience," CEO of Maarij Capital of the Kingdom of Saudi Arabia stated here on Thursday.

Akmal could not provide details on the land area required for developing the Muslim holiday resort, but he did speak about some of the facilities on offer, such as hotels, resorts, restaurants, and swimming pools, all of which would be built based on the Islamic concept.

"We will build a hotel for Muslim families, halal restaurants, and indoor swimming pool for women," he said, adding that the resort will also house a library for Muslim tourists.

Akmal remarked that the holiday resort would be located on a private island with a beach area for women where the entry of men would be prohibited.

"There will also be a special beach for men and the one for families. All of them will be located apart from each other," he explained.

Akmal admitted that he had developed a liking for Lombok and Mataram after visiting the regions.

Akmal expressed greater confidence in investing in halal tourism in Lombok after learning that it had been awarded the Worlds Best Halal Honeymoon Destination and the Worlds Best Halal Tourism Destination at the World Halal Travel Award in Abu Dhabi, the United Arab Emirates, in 2015.

Akmal hoped the Muslim tourist site will be ready by the end of 2017 or early 2018.

He has invited all, both individuals and companies, to take part in the construction of the Muslim tourist resort project in Lombok.(*)

http://www.antaranews.com/en/news/106081/arabian-investor-to-build-muslim-resort-in-lombok
 
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Community-based initiatives driving growth in Indonesia`s Islamic financial industry
Kamis, 4 Agustus 2016 20:27 WIB | 261 Views

Jakarta (ANTARA News) - The Islamic finance industry in Indonesia has largely grown as a result of community-based initiatives, Head of Islamic Finance at Thomson Reuters Mustafa Adil stated here on Thursday.

"Unlike other countries, the Islamic finance industry in Indonesia is growing due to the initiatives taken by the community, which has developed unique Islamic financial institutions, such as rural Islamic banks, retail sukuk, Hajj funds, and other innovative social finance initiatives," he affirmed.

Although Indonesia has only 131 sharia scholars, which is still less than 205 in Malaysia, there are 150 Islamic financial institutions in the country. This number exceeds Malaysia, which has 100 Islamic financial institutions, Mustafa noted.

He added that even Bangladesh, with 174 Islamic economic scholars, has only 50 Islamic financial institutions.

According to Mustafa, a strong correlation exists between the number of sharia scholars and the comprehensiveness of Islamic finance regulations in a country. In this case, Indonesia has strong Islamic finance regulations and ranks second to Malaysia.

Mustafa pointed out that Indonesias abundant natural resources and strategic geographical location offers huge opportunities for economic growth, particularly for the Islamic finance industry.

Sharia system-based business sectors continue to grow worldwide, one of which is the halal food industry.

Thomson Reuters has ranked Indonesia as the top Muslim consumer food expenditure market, with a value of US$157.6 billion in 2014.

"Now with the development and implementation of sharia economic regulations by the government, the Islamic finance industry is expected to grow into a strong and sustainable sector without losing the unique values of Islamic products and services," Mustafa added.(*)

http://www.antaranews.com/en/news/1...owth-in-indonesias-islamic-financial-industry

Coordinating economic ministry launches urban logistics workshop program
Kamis, 4 Agustus 2016 20:57 WIB | 176 Views

Jakarta (ANTARA News) - The Coordinating Ministry for Economic Affairs launched an urban logistics workshop program to explore logistic issues for boosting the efficiency of export trade and products from the suburban to the urban areas.

"We might be slightly late, but we still need to start deeply exploring logistic issues," said Coordinating Minister for Economic Affairs Darmin Nasution during the launch of an Urban Logistics and Land Transportation Management Workshop for Leaders and Specialists in Indonesia in Jakarta, Thursday.

The program is a result of the partnership between the Ministry, The Logistic Institute-Asia Pacific National University of Singapore, Indonesian Logistic Association and Temasek Foundation and aims to gain the knowledge and capability of mid-level and senior officials in central and regional governments, State Owned and Aerial Owned Enterprises (BUMN/BUMD) and researchers.

The partnership program will continue for 30 months starting April this year as an execution of the Presidents Regulation number 26 in 2012 related to the National Logistic System Development Blueprint.

In his speech, Darmin said efficient urban logistics will increase the quality of trade and economic activities.

Urban logistics itself has a lot to do with the observation of humans, goods and information effectiveness that is aimed towards the enhancement of the peoples quality of life.

Darmin noted that urban logistics is an issue that has not been handled properly.

"The issues include congestion and disorderly traffic that causes a monetary burden, land limitation and fuel consumption resulting in pollution," he revealed.

The minister hopes that the workshop will be able to spark peoples interest regarding urban logistics and can be help start the establishment of an urban logistics study that is yet to be fully explored in Indonesia.

Temasek Foundation Chairman Goh Geok Khim hopes that the workshop program can identify the useful aspects that help elevating Indonesias urban logistics.

"It should also be a lesson in implementing transportation system policies in the cities. The proficiency that can be established through this program needs the commitment to later be applied to the public," he concluded.(*)

http://www.antaranews.com/en/news/1...try-launches-urban-logistics-workshop-program
 
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Indonesian population opens up broader digital business opportunities

Kamis, 4 Agustus 2016 12:12 WIB | 554 Views
Pewarta: Libertina Widyamurti Ambari
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Shinta Dhanuwardoyo. (twitter.com)
Jakarta (ANTARA News) - Indonesias 250 million population opens up broader digital technology-based business opportunities, Shinta Dhanuwardoyo, a digital technology entrepreneur, stated here on Thursday on the sidelines of the 12th World Islamic Economic Forum (WIEF).

"In addition, almost half of Indonesias population is under 30 years of age, so business opportunities in the field of digital technology are getting bigger," she said.

However, Dhanuwardoyo pointed out that the development of digital technology in Indonesia was facing three major constraints.

The obstacles are the lack of infrastructure to support development and use of digital technology, the governments policy on digital businesses being not yet available, and the lack of human resources in such a field.

"If we can overcome these constraints, I believe Indonesia can become a major player in digital-based businesses at the regional and even international levels," the founder of the first internet company in Indonesia affirmed.

She believes that synergy between the government and entrepreneurs is the right step to accelerate the development of digital businesses, one of which is the program named "1000 digital startup," which is being implemented by the Coordinating Ministry for Economy and the Ministry of Communication and Information Technology.

The program is expected to help in creating one thousand startup companies in the country, with an investment of US$10 billion by 2020.

Dhanuwardoyo has been named among the 99 most powerful women in Indonesias technology industry by Globe Asia.

Dhanuwardoyo has also set up Svata, which is a nonprofit organization that bridges the knowledge gap between the Silicon Valley and Indonesias technology ecosystem.
(Uu.KR-LWA/INE/KR-BSR/A014)

http://www.antaranews.com/en/news/1...ens-up-broader-digital-business-opportunities
 
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RI passes Federal Aviation Administration standard
Indonesia has passed the safety and security standard of the US-based Federal Aviation Administration (FAA), a Transportation Ministry official said.

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The FAA has upgraded Indonesias aviation rating from category 2 to category 1 after completing all phases of assessment, the Director of Airworthiness and Plane Operations of the Directorate General of Air Transportation at the Transportation Ministry, Mohammad Alwi, said here on Thursday.

"After 10 years of efforts, we finally passed it and the US ambassador has congratulated me on it," he said.

Alwi said the FAA will officially present a certificate of aviation rating to Indonesia this week.

http://www.antaranews.com/en/news/106099/ri-passes-federal-aviation-administration-standard
 
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