Indonesia Economy Forum

[Nike]

Energi Mega Persada to enter petrochemical business

• Viriya P. Singgih
  The Jakarta Post
  

Jakarta | Sun, February 11, 2018 | 04:03 pm

Energi Mega Persada president director Imam Pria Agustino answer questions during the company's public expose in Jakarta in this file photo. The company plans to enter the petrochemical business by developing two purified terephthalic acid (PTA) plants worth US$600 million. (JP/Anton Hermansyah)

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Publicly-listed oil and gas firm PT Energi Mega Persada (EMP) is seeking to diversify its business by developing two purified terephthalic acid (PTA) plants worth US$600 million this year.

The new facilities will have a combined production capacity of 1.6 million tons of PTA, a key raw material used in making polyester.

EMP, through its subsidiary PT Energi Mega PTA, signed a memorandum of agreement with China’s Reignwood International Investment Group on Feb. 3, through which the former will acquire the latter’s future PTA plants in an unspecified location under an engineering, procurement and construction contract.

Reignwood currently operates two PTA facilities with an overall capacity of 2.1 million tons in China and has another two PTA projects on the pipeline.

“The company [EMP] is taking a chance to diversify by penetrating the petrochemical business industry, which has been growing with a more stable cash flow [compared to the oil and gas industry],” said EMP president director Imam P. Agustino in a statement on Friday.

Read also: Energi Mega Persada seeks to maintain production after block losses
EMP expected to secure loans with low-interest rates from several Chinese lenders to finance the acquisition of the two facilities this year, he added.

EMP, affiliated with tycoon-cum-politician Aburizal Bakrie, saw its oil and gas production average at 27,800 barrels of oil equivalent per day between January and September 2017, down 34.27 percent year on year (yoy). As a result, its revenue fell by 38 percent yoy to $242.3 million. (lnd)
http://www.thejakartapost.com/news/...persada-to-enter-petrochemical-business-.html

 

[Bungaterakhir]

Bandung "Metro Kapsul" LRT groundbreaking today

• length : 8.3 km
• type : looping
• construction : 2 years
• operational : 2020

 

[Nike]

exceeds set quota in 2017

• News Desk
  The Jakarta Post
  

Jakarta | Mon, February 12, 2018 | 02:41 pm

A woman shops for meat at a traditional market in Jakarta. (AP Photo/Achmad Ibrahim)

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The State Logistics Agency’s (Bulog) procurement director, Andrianto Wahyu Adi, said in Jakarta over the weekend that the agency had obtained a permit from the Trade Ministry to import 100,000 tons of buffalo meat this year, exceeding the 2017 quota set by the government by 81 percent.

The government set an import quota of 55,000 tons in 2017.


The government has allowed more imports of buffalo meat in an attempt to push down the price of beef, he said, adding that the import would be carried out gradually, starting prior to Ramadhan.

“Currently, we are in the process of preparing tender documents,” he said, as quoted by kontan.co.id, adding that the increase in the import quota was based on last year’s demand, which had reached 6,000 to 7,000 tons per month.

Bulog needed two months to prepare the buffalo meat import until the commodity could arrive in Indonesia, he said, adding that 20,000 tons of buffalo meat would arrive prior to Ramadhan.

Meanwhile, Cattle and Buffalo Husbandry Association (PPSKI) head Teguh Boediyana criticized the government, saying the government’s insemination program had failed to increase the cattle population.

In 2014, Indonesia had succeeded in increasing the cattle population to 12.6 million, up 16 percent from the previous year, said Teguh, adding that since then, the cattle population had only grown by 4.7 percent in 2015, 3,7 percent in 2016 and another 3.7 percent in 2017. (bbn)
http://www.thejakartapost.com/news/2018/02/12/buffalo-meat-import-far-exceeds-set-quota-in-2017.html

 

[Bungaterakhir]

Pertumbuhan Manufaktur Indonesia Tertinggi di ASEAN


REPUBLIKA.CO.ID, JAKARTA -- Indonesia dinilai sudah menjadi basis produksi manufaktur terbesar di ASEAN. Hal ini seiring dengan upaya pemerintah saat ini yang ingin mentransformasi ekonomi agar fokus terhadap pengembangan industri pengolahan nonmigas.

"Jadi, kita telah menggeser dari commodity based ke manufactured based," kata Menteri Perindustrian Airlangga Hartarto saat ditemui di Jakarta, Ahad (11/2). Manufaktur menjadi kunci penting guna memacu perekonomian nasional karena lebih produktif dan memberikan efek berantai yang luas.

Menurut Airlangga, industri mampu meningkatkan nilai tambah bahan baku dalam negeri, menyerap banyak tenaga kerja, menghasilkan devisa dari ekspor, serta penyumbang terbesar dari pajak dan cukai. "Jangan sampai kita terus mengekspor sumber daya alam mentah kita tanpa pengolahan," ujarnya.

Apabila dilihat dari sisi pertumbuhan manufacturing value added (MVA), Indonesia menempati posisi tertinggi di antara negara-negara di ASEAN. MVA Indonesia mampu mencapai 4,84 persen, sedangkan di ASEAN berkisar 4,5 persen. Di tingkat global, Indonesia saat ini berada di peringkat ke-9 dunia.

"Ekonomi Indonesia berbeda dengan negara ASEAN yang lain, disebabkan sekarang Indonesia sudah masuk dalam one trillion dollar club," jelas Airlangga. Untuk itu, pemerintah menitikberatkan pada pendekatan rantai pasok industri nasional agar lebih berdaya saing di tingkat domestik, regional, dan global.

"Ekonomi bergeser ke pasifik. Di Jepang manufakturnya sekitar 0,2 persen karena basis produksinya di luar Jepang," kata Menperin.

Sebanyak 50 pabrik Indonesia telah beroperasi di Vietnam dan Thailand. Potensi ekspor nasional bisa lebih ditingkatkan terutama melalui pemberlakuan Masyarakat Ekonomi ASEAN.

Airlangga pun mencontohkan, industri kemasan, makanan hingga semen yang keberadaannya harus dekat dengan konsumen, tidak efisien lagi untuk ekspor menggunakan transportasi karena tidak sebanding biayanya. "Maka dia harus ekspansi dalam bentuk corporate action. Di situ Kemenperin terus dorong," ujarnya.

Beberapa perusahaan, lanjut Airlangga, telah membuka pasar baru seperti di Nigeria. "Kita sudah ada pabrik makanan di sana, dan rencana baru akan ekspansi lagi perusahaan berbasis pupuk," ungkapnya.

Menperin menambahkan, pemerintah tengah berupaya memperbaiki sejumlah regulasi untuk semakin menggenjot ekspor Indonesia. Misalnya, Kemenperin telah mengusulkan kepada Kementerian Keuangan mengenai revisi perpajakan agar sedan tidak dimasukkan lagi ke dalam kategori kendaraan mewah.

"Kami ingin revisi struktur perpajakan industri otomotif, termasuk Pajak Penjualan atas Barang Mewah (PPnBM). Kami berharap untuk sedan tidak lagi jadi barang mewah," ucapnya.

source : http://republika.co.id/berita/ekono...buhan-manufaktur-indonesia-tertinggi-di-asean

ala2 Jepang yes...

 

[Nike]

Circulation to reach Rp 4t during IMF-WB annual meeting

• News Desk
  The Jakarta Post
  

Jakarta | Mon, February 12, 2018 | 01:19 pm

Tourists watch a Kecak dance at Uluwatu Temple in Bali. The province will be hosting the International Monetary Fund-World Bank Annual Meetings this October, when up to 20,000 delegates are expected to arrive on the resort island. (Shutterstock/File)

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Bank Indonesia (BI) has projected that monetary circulation will reach Rp 4 trillion (US$293.19 million) by the time of the International Monetary Fund-World Bank (IMF-WB) Annual Meetings this October in Bali.

In comparison, circulation reached Rp 694.8 trillion last year, or a daily average of Rp 1.9 trillion.

“The meetings will accelerate the economy in Bali,” BI Bali office head Causa Iman Karana said on Sunday as reported by Antara.

During the annual meetings, a greater quantity of money in circulation is needed due to increased spending on accommodation, food and beverages, transportation, telecommunication and other supporting services and facilities.

Representatives from 189 member countries of the IMF and the World Bank are slated to attend the meetings, with an estimated 15,000 to 20,000 attendees comprising high-ranking government officials, businesspeople, academics and representatives from civil society organizations. The government had readied Rp 868 billion for infrastructure projects, delegates’ accommodation and other needs for the IMF-WB annual meeting.

It had also accelerated the construction of several infrastructure projects in preparation for the IMF-WB meetings, including building an underpass at the intersection to I Gusti Ngurah Rai International Airport, expanding the airport apron and developing a tourism port at Benoa, Denpasar.

BI estimated that 2018 growth in the Balinese economy would reach 6 to 6.4 percent, from 5.59 percent growth in 2017. (ami/bbn)

http://www.thejakartapost.com/news/...reach-rp-4t-during-imf-wb-annual-meeting.html

 

[Svantana]

 

[Nike]

Q4

• 
  Anton Hermansyah
  The Jakarta Post
  

Jakarta | Tue, February 13, 2018 | 12:56 pm

A man inspects prototypes of Mahesa Nusantara vehicles on Oct. 4, 2017. They will be developed into “village vehicles". (tempo.co/Dinda Leo Listy)

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The government is set to launch three types of village vehicles in the fourth quarter of 2018 as part of an automotive project that was initiated in 2010.

Industry Minister Airlangga Hartarto said three companies were ready to manufacture the village vehicles with their own specifications -- PT Astra Otoparts with Wintor, CV Karya Hidup Sentosa with KHS and Kiat Motor with Mahesa.

"We have completed the prototypes and are now about to enter the production phase. Hopefully, we can launch them in the last quarter of 2018," he said after attending a Cabinet meeting at the Presidential Palace in Jakarta on Monday.

PT Astra Otoparts developed Wintor as an agricultural special vehicle (ASV) to carry harvested palm fruit at oil palm plantations. The company has marketed Wintor internally for companies under the Astra International group.

CV Karya Hidup Sentosa is a hand tractor maker based in Yogyakarta and marketed under the Quick brand. The company also produces mini trucks with 500 cc diesel engines for oil palm plantations.

Kiat Motor was founded by Sukiyat in Klaten, Central Java. Its workshop produces Esemka sport utility vehicles (SUV), which boosted the image of then Surakarta mayor Joko "Jokowi" Widodo when he used the car as an official vehicle in 2012.

However, Esemka cars later failed a mass production emissions test.

Airlangga said the village vehicles would be sold at between Rp 60 million (US$4,200) and Rp 80 million. (bbn)

http://www.thejakartapost.com/news/...-of-village-vehicles-to-hit-market-in-q4.html

 

[Nike]

Indonesia promises speedier licensing, offers tax incentives

• News Desk
  The Jakarta Post
  

Jakarta | Tue, February 13, 2018 | 02:06 pm

Finance Minister Sri Mulyani Indrawati speaks on Feb. 7 at the Mandiri Investment Forum (MIF) 2018 in Jakarta. (Antara/Muhammad Adimaja)

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Finance Minister Sri Mulyani Indrawati has said that the government will continue to reform its regulations and had offered incentives in an effort to boost investment, tempo.co reported.

Speaking on Monday in Jakarta, she said that the government would further eliminate regulations that could disrupt investment to help speed up the licensing process for investors.

Sri Mulyani added that the central government would coordinate closely with local governments to roll out reform packages that would, in the end, enable the government to set up a "single submission system" for all business and investment permits.

The single submission system is intended to ease the licensing process and significantly cut down the waiting period for businesses.

“When the single submission system is implemented, the coordination with local governments will become very important,” she said.

As for the incentives, she said, the Finance Ministry would cooperate with the Industry Ministry to simplify the process for providing tax holidays and tax allowances to investors.

President Joko Widodo has reminded his ministers and regional government heads several times to simplify the business licensure process to attract more investors to the country in the competitive global investment climate.

“If we delay, the funding will go to countries that already offer a better investment climate,” the President said on Monday during a Cabinet meeting at the Presidential Office. (bbn)

http://www.thejakartapost.com/news/...speedier-licensing-offers-tax-incentives.html

 

[Star Bugs]

Indonesian finance minister crowned Best Minister in the World

INDONESIA’S Minister of Finance Sri Mulyani Indrawati has been named the Best Minister in the World.

Responsible for helming the budget of Southeast Asia’s largest economy, the minister was presented the award by the UAE’s Prime Minister Shaikh Mohammad Bin Rashid Al Maktoum at the six annual World Government Summit in Dubai, United Arab Emirates on Sunday.

“Under her mandate Indonesia achieved tangible results in reducing poverty, improving the standard of living, reducing public debt and boosting the transparency of public transactions,” said the awarding committee.

She was also recognised for her efforts to “fight corruption and increase transparency in government.”

Sri Mulyani has been Finance Minister since 2016 under President Joko “Jokowi” Widodo and was formerly the World Bank’s Managing Director. She previously served as finance minister from 2005 to 2010 and is credited with steering Indonesia though the Global Financial Crisis.

“The Indonesian economy now is much more resilient and that has something to do with a much stronger foundation of the way we manage the economy,” she told CNBC in an interview last year.

The selection process for the Best Minister award was undertaken by independent consultancy Ernst & Young based upon ministers’ leadership, innovation, the social and economic impacts and the scaleability of initiatives and policies.

According to the World Government Summit, poverty has been reduced in Indonesia by 40 percent in the past five years, while the country’s debt was reduced by 50 percent. Indonesian reserves, meanwhile, were at the “all-time high” of $50 billion, it said.

In a video posted to Facebook, Sri Mulyani dedicated the award to the leadership of Jokowi, the people of Indonesia and the ministry’s 78,000 staffers. “I hope this award motivates the Indonesian government to implement further reforms to prepare the young generation for a fast-changing world and technological advancement,” she said.

The minister has presided over Indonesia’s ambitious tax amnesty scheme, the Jokowi administration’s major investments in infrastructure and has “earned a reputation for toughness”, according to Bloomberg.

Sri Mulyani was last year recognised as Asia’s best finance minister by FinanceAsia and she was ranked at number 37 in Forbes magazine’s list of most powerful women in the world in 2016.

 

[Bungaterakhir]

GMF books US$2.5b worth of contracts at Singapore's Airshow
source : Link

PT Garuda Maintenance Facility (GMF) Aero Asia, a subsidiary of flag carrier Garuda Indonesia, booked contracts worth US$2.4 billion in the 2018 Singapore Airshow at Changi Exhibition Center from Feb. 6 to 11.

“The contracts [mostly] reaffirmed a number of cooperation agreements with our strategic partners to expand our businesses,” said GMF president director Iwan Joeniarto on Tuesday as reported by kompas.com.

Iwan said $1.7 billion worth of contracts came from existing agreements on plane maintenance, while the other $700 billion worth were new contracts.

In addition to the $2.4 billion worth of contracts, GMF also signed a cooperation agreement to expand its businesses to the Middle East and Australia, said Iwan, adding that Australia and countries in the Middle East have great market potential.


Groundbreaking : National Fishery Center/Muara Baru/ North Jakarta

 

[Bungaterakhir]

200 unit of QUICK Truck already order, its good to support our farmer. and ofcourse our manufacture base will be in good shape now and in the future.

 

[Nike]

E-commerce contributes 0.75 percent to GDP

• News Desk
  The Jakarta Post
  

Jakarta | Wed, February 14, 2018 | 04:22 pm

A small shopping cart sits on top of a laptop keyboard to illustrate the ease of e-commerce. (Shutterstock/File)

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The Institute for Development of Economics and Finance (Indef) has estimated that e-commerce contributes just 0.75 percent of gross domestic product (GDP).

Indef researcher Bhima Yudhistira Adhinegara said based on data owned by Bank Indonesia, the amount of e-commerce transactions was Rp 75 trillion (US$5.25 billion) in 2016, including transactions in non-marketplaces.

With the assumption that e-commerce grows 17 percent annually, as it has done in the last 10 years, e-commerce transactions would reach Rp 102 trillion in 2018.

“The amount is small compared to GDP, which is at Rp 13.59 quadrillion”, said Bhima as reported by kontan.co.id. “It is only about 0.75 percent of GDP or 1.34 percent of total household consumption.”

However, he said e-commerce was important because it posed significant growth. Therefore, he added, the government needed to have accurate data about the digital economy – not only e-commerce, but also financial technology (fintech).

“Now its contribution is still small, but it will potentially make a large contribution in the future,” he said, adding that he supported the Central Statistics Agency (BPS), which was collecting data on e-commerce to provide decision makers with more accurate data. (bbn)
http://www.thejakartapost.com/news/2018/02/14/e-commerce-contributes-0-75-percent-to-gdp.html

 

[Logam42]

Strong Growth Indonesian Motorcycle Exports in January 2018
15 February 2018 |

Indonesia's exports of motorcycles surged 33.8 percent year-on-year (y/y) to 38,021 units (completely built up) in January 2018 on the back of repeat orders in various nations. The latest data were published by the Indonesian Motorcycle Industry Association (AISI).

Sigit Kumala, Chairman of AISI's Commercial Department, said repeat orders from several important export markets were the key reason for strong export growth of Indonesian motorcycles in the first month of 2018. Between 60 - 70 percent of motorcycle exports from Indonesia, last month, involved repeat orders. Kumala said it is possible that these nations first ordered limited quantities of Indonesian motorcycles, but after these units proved popular and reliable they requested for more shipments.

Most popular export item, in terms of Indonesian motorcycle exports, is the scooter. Nearly 49 percent of all exported motorcycle exports from Indonesia involved scooters in January 2018, led by Yamaha and Honda units.


A relatively new market for Indonesian motorcycles is Latin America. Although exports to this region are still low, Kumala is optimistic that shipments will grow in the period ahead.

Prices of Indonesian motorcycles are competitive on the international market because manufacturers/distributors do not differentiate between units sold on the domestic market or abroad, meaning the price is the same.

Motorcycle Exports Indonesia - January 2018:
Brand Jan.2017 Jan.2018
Yamaha 16,620 23,030
Honda 8,178 6,281
Suzuki 1,131 4,445
TVS 2,197 3,328
Kawasaki 280 937
Total Exports 28,406 38,021
_____________________________________
Increase in exports quantity of 33% (YOY). Another possible success of the government program of encouraging exports to untapped markets. While they won't bear the Indonesian branding like the "Jakarta" motorbikes exported to the Africa decades ago, they are still exports.
__________________________________________

Indonesia Set to Become World's Biggest Wheat Importer
15 February 2018 |

Indonesia is set to become the world's biggest wheat importer in the 2017-2018 season. Based on an estimation of the United States Department of Agriculture (USDA), Indonesia will import 12.5 million tons of wheat, hence replacing Egypt (traditionally the world's leading wheat importer). Based on data from the World Bank, Indonesia imported 10.2 million tons of wheat in the 2016-2017 season, ranking behind Egypt that imported 11.2 million tons.

The USDA said wheat imports into Indonesia have grown rapidly due to rising domestic demand for food and animal feed. Not only is the Indonesian population huge and expanding, it is also characterized by a rapidly growing middle class segment as well as the process of urbanization that gives rise to "urban lifestyles" (influenced from the West). This causes a shift in consumer behavior toward the consumption of cereals, bread and cookies.

Meanwhile, global production of wheat is estimated to have grown considerably in the world's leading wheat producing countries (such as Argentina, Moldova and Ukraine). Currently, Indonesia's top wheat suppliers are Australia, Canada, Ukraine, and the USA. Rising competition in the global wheat market originates from countries around the Black Sea, particularly Moldova, that bring a large amount of good quality and cheap wheat on the global market. Their rise in the wheat market started from the early 2000s.

The World Bank estimates global wheat production to reach 751.2 million tons in the 2017/2018 season. Indonesia is heavily dependent on imports of wheat as the domestic production of grains is close to zero because the local climate does not suit such cultivation.
_______________________________
Indonesia's shifting taste buds means that even while we struggle to establish rice self-sufficiency, deficits in wheat grow ever larger. To be fair though, taking the spot as the top wheat importer is partially due to the drop in imports by Egypt, due to disruptions in inspections and wheat suppliers abandoning business there due to increased risks and corruption.

Both article taken from the the Indonesia-Investments website

 

[katarabhumi]

Nigeria, Indonesia trade volume hits $2.5bn
Anna Okon - Published February 16, 2018

The International Trade Promotion Centre Lagos said that the trade volume between Nigeria and Indonesia rose to over $2.5bn in 2016.

The Director, ITPC, Bagus Wicaksena, stated this during a press briefing to announce the Indonesian-African forum tagged ‘Sustainable trade and investment cooperation’ scheduled to hold in April in Bali, Indonesia.

According to Wicaksena, the trade volume represents the second largest the Indonesian government has traded with any country within the continent.

He added that the total volume of trade between Indonesia and Africa stood at $7.6bn in 2016.

The inaugural edition of the forum, Wicaksena said, was an Indonesian government’s initiative aimed at promoting and strengthening trade and investment relationship between Indonesia and sub-Saharan Africa.

He noted that Africa had been a potential market for Indonesian consumer goods such as palm oil, garments, technical cooperation and motorised vehicles.

He said, “The forum will generate new ideas aimed at strengthening bilateral trade with Nigeria. We have experienced a promising trade relationship with Nigeria as it has grown by 10 per cent. West African countries are strategic partners in terms of trade and we want to forge stronger bilateral relationships with countries on the continent.”

The President, Goldmine Global Services Limited, organisers of the event, Ishmael Balogun, said that the forum was geared towards exploring various economic opportunities to strengthen technical cooperation and enhance the existing partnership between both countries.

He said, “The forum intends to provide a unique opportunity for around 550 people from the Indonesian business community, high level government officials and other stakeholders to gather, interact and explore ways to establish concrete economic cooperation and expand business networks.

“We believe the forum would provide a platform for Nigerian and other African businesses to showcase what they have to offer to the Indonesian business community, thereby improving the probabilities of attracting inward cooperation and investments in terms of foreign direct investments from Indonesia.”

He stated that the forum would be graced by the Indonesian President and other key industry personnel, stressing that so far, no less than 23 ministers from 23 African countries had been confirmed for the forum in Bali.

http://punchng.com/nigeria-indonesia-trade-volume-hits-2-5bn/

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[Bungaterakhir]

^^ we should do more to penetrate africa market, after nigeria. kenya or egypt will be a good market for our product !