Indonesia, US bilateral economy projected at US$131.7 billion
Kamis, 15 September 2016 23:55 WIB | 1.319 Views
Jakarta (ANTARA News) - The US Chamber of Commerce in Indonesia (AmCham Indonesia) has projected the total value of bilateral economic cooperation between the two countries to reach US$131.7 billion in 2019, jumping 46.2 percent within five years.
"Indonesia and the United States have a relationship that contains a long history. But not many who understand that relationships are able to guess what it is worth," the Chairman of the International Affairs at the US Chamber of Commerce, Myron Brilliant, said here on Thursday.
The US Chamber of Commerce said the total value of bilateral economic cooperation between Indonesia and the United States reached US$90.1 billion in 2014, equivalent to 10 percent of Indonesias gross domestic product (GDP).
"This data briefly describes how great the economic relations between the two countries are," Myron said.
The trade value of US$90.1 billion not only contains foreign direct investment, but also trade, domestic sales, financial income and government revenues.
"The partnership between Indonesia and the US has given the government and business entities an important platform," the President of AmCham Indonesia, Brian Arnold, said.
The US Chamber of Commerce notices that the government of Indonesia is now taking economic reforms, but still needs to continue and develop processes to achieve the expectations.
The main priorities for the development include legal certainty, collaboration, innovation, and policy reform.
Since the beginning of diplomatic relations between Indonesia and the US, the two countries have worked together and become important partners to each other in various sectors, particularly in economy, education and culture.
The value of investment foreign investment realization of the US based on the Investment Activity Report in 2015 reached US$893 million consisting of 261 projects which dominated by mining sector.
Earlier, business deals that would be announced and signed amounted to US$20.25 billion have been agreed during the visit of President Joko Widodo at the US Chamber of Commerce office in October 2015.(*)
http://www.antaranews.com/en/news/106719/indonesia-us-bilateral-economy-projected-at-us1317-billion
Three tax amnesty gateway banks added
Jumat, 16 September 2016 16:38 WIB | 440 Views
Jakarta (ANTARA News) - The government has added three new gateway banks for repatriation of funds from its tax amnesty program.
This brings the total number of financial institutions designated as a gateway to 58.
The three new banks are Deutsche Bank AG, PT. Bank OCBC NISP Tbk and Standard Chartered Bank, according to an official statement from the Directorate General Financing and Risk Management of the Ministry of Finance on Friday.
Bank OCBC NISP Tbk has prepared a variety of instruments to accommodate the repatriation of funds such as savings, insurance, investment, treasury, and loans instruments, President and Chief Executive Officer of the bank, Surjaudaja Parvati, said, in response to the appointment the bank as a gateway.
"We can be more active in providing solutions that benefit customers in managing the repatriation of funds," she added.
"In addition, we can help the government in increasing economic growth," she noted.
The 58 financial companies are:
Banking:
1. Citibank N.A
2. Bank Bukopin
3. Bank Central Asia
4. Bank CIMB Niaga
5. Bank Danamon Indonesia
6. Bank DBS Indonesia
7. Bank Mandiri
8. Bank Maybank Indonesia
9. Bank Mega
10. Bank Negara Indonesia
11. Bank Pan Indonesia
12. BPD Jabar & Banten
13. Bank Permata
14. Bank Rakyat Indonesia
15. Bank Syariah Mandiri
16. Bank UOB Indonesia
17. Bank Tabungan Negara
18. The Hong Kong and Shanghai Banking Corporation
19. Deutsche Bank AG
20. PT. Bank OCBC NISP Tbk
21. Standard Chartered Bank
Investment managers:
1. PT Ashmore Asset Management Indonesia
2. PT Bahana TCW Investment Management
3. PT Batavia Prosperindo Aset Manajemen
4. PT BNI Asset Management
5. PT BNP Paribas Investment Partners
6. PT Bowsprit Asset Management
7. PT Ciptadana Asset Management
8. PT Danareksa Investment Management
9. PT Eastspring Investments Indonesia
10. PT Indosurya Asset Management
11. PT Mandiri Manajemen Investasi
12. PT Manulife Aset Manajemen Indonesia
13. PT Panin Asset Management
14. PT PNM Investment Management
15. PT Syailendra Capital
16. PT Schroder Investment Management Indonesia
17. PT Sinarmas Asset Management
18. PT Trimegah Asset Management
Other financial institutions:
1. PT Bahana Securitie
2. PT BNI Securities
3. PT CIMB Securities Indonesia
4. PT CLSA Indonesia
5. PT Daewoo Securities Indonesia
6. PT Danpac Sekuritas
7. PT Indo Premier Securities
8. PT Mandiri Sekuritas
9. PT Mega Capital Indonesia
10. PT MNC Securities
11. PT Pacific Capital
12. PT Panin Sekuritas
13. PT Panca Global Securities
14. PT Pratama Capital Indonesia
15. PT RHB Securities Indonesia
16. PT Sinarmas Sekuritas
17. PT Sucorinvest Central Gani
18. PT Trimegah Sekuritas Indonesia
19. PT UOB Kay Hian Securities(*)
http://www.antaranews.com/en/news/106742/three-tax-amnesty-gateway-banks-added
Government to build 769 km new roads
Jumat, 16 September 2016 02:12 WIB | 755 Views
Yogyakarta (ANTARA News) - Minister of Public Works and Public Housing Hadimulyono Basuki said the government is targeting to complete the construction of 769 kilometers (km) of new roads, including the 158 km causeway along the south coast of Java.
"Anyway, the pansela (the southern coast of Java) should be connected in 2017," Basuki said during his address at a seminar on infrastructure at the Faculty of Engineering, the University of Gajah Mada, on Thursday.
He stated that priority will be accorded to the construction of trans Sumatra, trans Kalimantan, Sulawesi and Papua roads.
In addition, completing construction of 29 kilometer of toll road, 52 thousand kilometers of irrigation networks and 39 reservoirs is part of the target.
"Next year, 39 dams will be built besides nine new reservoirs, 105 reservoirs and 84 thousand irrigation networks," Basuki elaborated.
Nevertheless, he admitted that it will not be easy to complete the construction of this infrastructure because land acquisition posed a difficulty.
"Every two weeks, there is a coordination meeting with the minister in charge of spatial and environmental affairs," he explained.
As of September 2016, according to Basuki, the new infrastructure development has reached 46.49 percent of the target with physical development reaching 53 percent.
"Progress this year is higher than last year when it was only 36.46 percent until mid-September with 40 percent physical work accomplished," he recalled.
He added that the government will continue to focus on the infrastructure work in 35 strategic development areas, including the area of Borobudur which has been integrated with the Kulon Progo airport.
"The southern coast line can support the airport. In essence, the infrastructure is being developed to improve competitiveness and productivity. Therefore, in order to be competitive, infrastructure development must be faster, better and cheaper," Basuki reiterated.
(A014/INE)
EDITED BY INE.
http://www.antaranews.com/en/news/106728/government-to-build-769-km-new-roads