Indonesia Economy Forum

[Nike]

National steel producer PT GRP pumps in Rp12 trillion investment
11th Jul 2020 13:41

Jakarta (ANTARA) - National steel producer PT Gunung Raja Paksi Tbk (GRP) invested an additional US$850 million, or some Rp12 trillion, to boost production efficiency and to facilitate market expansion.

"We want to ensure our increasingly solid position as a market leader in the national steel industry," PT GRP Tbk President Director Tony Taniwan noted in a statement here on Saturday.

The two-staged investment process comprises $370 million (Rp5.2 trillion) in funds disbursed for the 2019-2021 period under the first phase and $480 million (Rp6.8 trillion) for the 2021-2023 period in the second phase.

PT GRP Tbk Chief Technical Officer Biplab Kumar Dutta expounded that the first phase of investment was conducted for the development of machines for making H beam and U type iron for light section mills, blast furnaces, transformers, and machines for making large H beams and angles for medium section mills.

Related news: Steel import cause of trade balance deficit: Jokowi
Related news: Krakatau Steel calls for governmental regulation to curb steel imports

In the second stage, the expansion will be conducted to develop pipe-making machines, coil-cutting machines, and a hot rolled coil (HRC) factory.

"Contract for the second phase of investment has been signed and is ready to go," he revealed.

In the meantime, Chairman of the Indonesian Chamber of Commerce and Industry’s (KADIN's) Honorary Board, Suryo Bambang Sulistyo, lauded the step taken by PT GRP to step up investment in the midst of the COVID-19 pandemic.

"They certainly have a mature strategy. It could be that the company sees an open steel market opportunity. At a time when other companies are contracting, this firm is actually preceding. Hence, when the situation has improved and demand has also increased, this company has already taken advanced steps," he pointed out.

The additional investment is also projected to help curtail the number of layoffs and open job opportunities, he remarked.

"Hence, this is very good and must be supported. Moreover, COVID-19 has triggered many layoffs," he stated.

Hence, Kadin is optimistic that the government would support domestic steel industries.

Sulistyo opined that the steel industry is a national asset that significantly contributes to moving the wheels of the national economy. Related news: South kalimantan steel factory to begin production in 2012
Related news: VP hopes RI`s steel industries will increase production

Translated by: Subagyo, Fardah
Editor: Mulyo Sunyoto

https://en.antaranews.com/news/1521...ucer-pt-grp-pumps-in-rp12-trillion-investment

 

[Nike]

Indonesia builds seven irrigation networks to spur economic recovery
31st Jul 2020 16:02

Jakarta (ANTARA) - The Public Works and Public Housing (PUPR) Ministry has developed seven irrigation systems as part of the National Strategic Projects (PSN) to support economic recovery amid the COVID-19 pandemic.

PUPR Minister Basuki Hadimuljono remarked that the ministry had developed several dams in some regions throughout Indonesia and additionally built irrigation systems to drive productivity in agricultural centers.

"The construction of dams has been followed by the development of irrigation systems. Hence, the dams, built at a high cost, could be beneficial by supplying water to the farmers' paddy fields," Hadimuljono noted in a statement here on Friday.

The ministry has set a target to build 500 thousand hectares of irrigation network and conduct rehabilitation of 2.5 million hectares of irrigation network during the period from 2020 to 2024 to boost the country's food and water resilience.

The target would support the National Medium-Term Development Plan for 2020-2024 to improve water adequacy to support national economic growth.

Development of the seven irrigation networks had been stipulated in Presidential Regulation No. 56 of 2018 on accelerating the implementation of PSN.

Two irrigation projects completed were the irrigation area (DI) Umpu System in Lampung that served an area of 7,500 hectares and the 86-km DI Leuwigoong that would distribute water to 5,313 hectares of potential area.

The five other irrigation networks still under construction are DI Jambo Aye Kanan in North and East Aceh districts, Aceh; DI Lhok Guci in West Aceh District, Aceh; DI Lematang in Pagaralam City, South Sumatra; DI Gumbasa in Sigi District and Palu City, Central Sulawesi; and DI Baliase in East Luwu District, South Sulawesi.
Related news: Indonesia's economic recovery relies on COVID-19 handling: Mulyani
Related news: Endeavoring for a balance between COVID-19 handling, economy recovery



Translated by: Aji Cakti, Sri Haryati
Editor: Rahmad Nasution
https://en.antaranews.com/news/1533...irrigation-networks-to-spur-economic-recovery

 

[Nike]

Government readies compensation scheme to boost geothermal investment
30th Jul 2020 16:57

Jakarta (ANTARA) - The Energy and Mineral Resources Ministry has readied a compensation scheme in the form of reimbursement for exploration costs and incentives for the development of geothermal infrastructure to encourage investment in renewable energy in Indonesia.

Taking into account the high risk and investment in the development of environment-friendly geothermal power plants, the ministry has realized the significance of offering some incentive.

The ministry's Director General of Renewable Energy and Energy Conservation, Fx Sutijastoto, noted in a statement here on Thursday that the compensation was aimed at ensuring geothermal energy is priced at an affordable level.

"The government has provided incentive and compensation, so the price of renewable energy can be affordable for the public while still being economically feasible for the developer. For instance, in the geothermal sector, to reduce the risk, we provide incentive and compensation, so that PT PLN can offer a better price. We will also provide the exploration costs and tax holidays," Sutijastoto noted.

The ministry projected that the incentive and compensation could press the geothermal energy price lower to some US$2.5-4 cent per kilo Watt hour (kWh).

A regulation on this scheme will be included in the draft of the presidential decree on renewable energy purchasing by state-owned electricity firm PT PLN.

According to Sutijastoto, the ministry will form a team to supervise the process to reimburse the exploration costs that will involve the ministry's Geological Agency and academicians.

The ministry has already received a nod from the Finance Ministry's Fiscal Policy Agency (BKF) to implement the scheme, and the compensation fund will be allocated from the state budget (APBN).

Indonesia has 442 gigawatts (GW) of renewable energy capacity, but merely 10.4 GW, or 2.4 percent, has been installed.

Indonesia has 23.9 GW of geothermal energy potential, and as of May 2020, some 8.17 percent was explored.

Related news: World Bank approves $150 million geothermal energy loan

Related news: Pertamina earmarks US$2 billion for geothermal energy development

Close

EDITED BY INE

Translated by: Kelik Dewanto, Sri Haryati
Editor: Fardah Assegaf

https://en.antaranews.com/news/1533...nsation-scheme-to-boost-geothermal-investment

 

[Nike]

Indonesia, New Zealand set Rp40-trillion trade target by 2024
29th Jul 2020 16:55

Jakarta (ANTARA) - Indonesia and New Zealand set an ambitious Rp40-trillion target for bilateral trade by 2024 amid the COVID-19 pandemic.

"I emphasize that it is not easy to achieve this target in the midst of this situation. We must work extra hard. We are also keen to witness a more balanced trade," Foreign Minister Retno Marsudi stated after holding a virtual Joint Commission Meeting (JCM) with her counterpart from New Zealand, Winston Peters, on Wednesday.

Indonesia is especially upbeat about New Zealand simplifying the import health standards (IHS) as a prerequisite for exporting fruits to the country.

In 2019, Indonesia's exports to New Zealand had risen to US$745.33 million, up 11 percent, while the value of imports plunged to $772.19 million.

Thus, the Indonesia-New Zealand trade balance is getting narrower, with a difference of $26.85 million.

The Indonesian Embassy in Wellington noted that the rise in exports to New Zealand was contributed by the five leading export commodities of palm oil, chemicals, wood floors, television, and rubber tire products. In addition, coffee from Indonesia is also a favorite among New Zealanders.

In the investment sector, the Indonesian government recorded a substantial increase from New Zealand in the first half of 2020, reaching $9 million, as compared to $3.25 million during the corresponding period last year.

In addition to trade and investment, the foreign ministers of Indonesia and New Zealand also discussed ways to intensify cooperation in the MSME and renewable energy sectors in a bid to mitigate the effects of climate change.

Both nations are also striving for expediting negotiations for arrangements on New Zealand's recognition of bachelor’s degrees, while for the undergraduate and applied science degrees from Indonesia.

The foreign ministers also briefly discussed regional issues, including the South China Sea and Rohingya refugees.

To this end, New Zealand lauded Indonesia's keenness to temporarily accept Rohingya refugees left adrift in the waters of Aceh some time ago in the midst of the COVID-19 pandemic.

"The essence of the meeting was in the midst of a very fluid world situation and tinged with a lot of uncertainties. Indonesia and New Zealand continue to enhance cooperation and are committed to promoting peace, stability, and world cooperation," Marsudi noted. Related news: Indonesia, New Zealand discuss handling COVID-19 impacts
Related news: Indonesia pursues market access to New Zealand at SOMTIF



Translated by: Yashinta DP, Fardah
Editor: Rahmad Nasution


https://en.antaranews.com/news/153242/indonesia-new-zealand-set-rp40-trillion-trade-target-by-2024

 

[Nike]

Construction of roads near Indonesia-Malaysia border to continue: govt
29th Jul 2020 13:30

Jakarta (ANTARA) - The government has planned to continue the work to construct roads in North Kalimantan (Kaltara) near the Indonesia-Malaysia borderline for ensuring equitable development across the nation.

"This border road network is a strategic infrastructure for Indonesia in terms of the defense and security aspects as well as aims to support a new center of economic growth in the border region," Public Works and Public Housing (PUPR) Minister Basuki Hadimuljono noted in a statement here on Wednesday.

The 966.59-km-long roads are projected to help boost connectivity between regions and open access to isolated areas.

The roads comprise 614.55 km of roads parallel to the borderline and 352 km of roads that offer access to border areas. Until the end of 2019, some 80.8 km of roads had yet to be developed.

For the 2020 fiscal year, the ministry has allotted Rp231 billion for the construction of eight border road sections and three border access road sections in North Kalimantan.

The ministry has completed the construction work of Malinau - Long Semamu - Long Bawan - Long Midang (Indonesia) - Lawas (Sarawak, Malaysia) roads spanning 8.5 km of the planned 198.71-km-long roads; Malinau - Mensalong - Tau Lumbis - Keningau (Sabah, Malaysia) roads stretching 221.73 km long; and Malinau - Langap - Long Kemuat - Long Nawang (Indonesia) - Sibu (Serawak, Malaysia) roads reaching 6.4 km long out of the planned 443.43-km-long roads, among others.

The roads are expected to help address the isolation of remote areas, lower regional disparities, enhance connectivity among Indonesian regions, and boost the smooth supply of logistics up to remote areas.

Related news: Government plans to build 11 integrated border checkpoints in 2020
Related news: Jokowi reviews border road construction aboard custom motorcycle





Translated by: Aji Cakti, Fardah
Editor: Rahmad Nasution
https://en.antaranews.com/news/1532...ar-indonesia-malaysia-border-to-continue-govt

 

[acelaw]

This white paper summarizes the development of unicorn and centaur startups in Asia and Indonesia; and several case studies in collaboration with financial institutions.

https://dailysocial.id/research/unicorns-centaur-collaboration-with-financial-institutions-2020

 

[Indos]

Indonesia’s GDP contracts deeper than expected at 5.32% in Q2

• Adrian Wail Akhlas
  The Jakarta Post
  

Jakarta / Wed, August 5, 2020 / 12:15 pm

Indonesia’s economy suffered its sharpest downturn since the 1998 Asian financial crisis in the second quarter, as the COVID-19 pandemic shut down large parts of the country, ravaging businesses and leaving millions out of work.

GDP contracted 5.32 percent in the second quarter, the lowest since the first quarter of 1999, Statistics Indonesia (BPS) announced Wednesday. The figure is deeper than the government's estimate of 4.3 percent contraction and economists' consensus of 4.6 percent contraction according to a Reuters survey.

“The coronavirus pandemic has had a very negative effect on health care, social and economic conditions, as it delivered a crushing blow for households and businesses,” BPS head Suhariyanto told reporters during a press briefing on Wednesday.


The GDP report reflected the impact of widespread disruptions to the economy as the government ordered the imposition of large-scale social restrictions (PSBB) to contain the virus spread, forcing businesses and factories to shut down and consumers to stay home for much of April and May. The measures to contain the virus have hit most components of economic activity.

As many as 3.7 million individuals have lost their jobs this year, according to data from the National Development Planning Agency (Bappenas). The total number of unemployed people will hit around 10 million by the end of the year.

The government’s decision to lift containment measures in early June has stirred economic activity back to life gradually – just not to the levels seen before the pandemic, Suhariyanto said.

Household spending, which makes up more than 50 percent of GDP, fell 5.51 percent – far lower than the 5.18 percent growth booked in the same period last year - led by a near-total collapse in spending on restaurant meals, recreational services and transportation, among others. Health care and educational spending, however, grew 2.02 percent.


Investment, meanwhile, fell 8.61 percent, a far cry from 4.55 percent growth recorded over the same period last year, as businesses pulled back sharply on their investment in vehicles and other products.

Exports and imports also plunged 11.66 percent and 16.96 percent, respectively, reflecting the slowdown in global economic activity as the pandemic hit. The export of non-oil and gas, as well as foreign tourist arrivals fell sharply in the second quarter.

Meanwhile, government expenditure fell 6.9 percent in the second quarter, lower than the 8.23 percent growth recorded in the same period last year, as it cut spending on business trips and canceled events.

“The main factor for the economic contraction was declining household spending and investment in the second quarter,” Suhariyanto went on to say. “Going forward, we should try to improve spending and investment to post positive growth in the third quarter.”

The government has allocated Rp 695.2 trillion (US$47.5 billion) to stimulate the economy and strengthen the country’s pandemic response, but slow disbursement due to red tape and the rise in COVID-19 cases could constrain economic recovery.

The government expects full-year growth of 1 percent at best, or full-year contraction of 0.4 percent at worst this year, depending on the severity of damage and how long the country takes to recover.

https://www.thejakartapost.com/news...racts-deeper-than-expected-at-5-32-in-q2.html

 

[Indos]

Synergizing with ITB and Pupuk Kujang, Pertamina Signs Joint Venture National Catalyst Factory

2020-07-29 18:49:00 news-release 35

Jakarta, July 29, 2020 - Pertamina, together with Institut Teknologi Bandung (ITB) and PT Pupuk Kujang, made a new history by signing a joint venture to build the first national catalyst factory in Indonesia. It was held in Aula Barat, Institut Teknologi Bandung (ITB), West Java, on Wednesday (7/29). The signing was carried out by President Director of Pertamina, Nicke Widyawati, Plt. President Director of PT Pupuk Kujang, Rita Widayati, and President Director of PT Rekacipta Innovation ITB, Alam Indrawan.

Present at the signing was Minister of Energy and Mineral Resources, Arifin Tasrif, Minister of Research and Technology, Bambang Brodjonegoro, Rector of ITB, Prof. Reini Wirahadikusumah, Head of ITB Catalysis Engineering Center, Prof. Dr. Ir. Subagjo and Pupuk Kujang directors and ITB academics.

ESDM Minister Arifin Tasrif said the utilization of new and renewable energy was the Government's target. Along with increasing national energy security, it is also reducing economic pressure due to fuel imports.

"At present, we have 3 national strategic projects, including the Dumai Refinery, which has produced D100 as a first step. The others are the Cilacap Refinery that will produce biodiesel and the catalyst factory, which is targeted to be completed in 2021. Let us together support the national strategic program for our energy security," Arifin said.

The Minister of Research and Technology, Bambang Brodjonegoro, said the signing of the cooperation between BUMN and ITB lays the foundation for the national economy to be more stable in the future.

"With the development of bioenergy, we can reduce our dependence on imported fuels," said Bambang.

President Director of Pertamina, Nicke Widyawati said, energy needs in Indonesia continue to increase, so energy security is a must. It is appropriate that the Government of Indonesia establishes a policy to start making the transition towards new and renewable energy.

Nicke asserted that, in the world, there is also a global megatrend in terms of energy. It is starting in 2030, where the growth of new and renewable energy will be higher than fossil energy. Therefore, exactly ten years earlier, Pertamina set a milestone to begin setting up the Merah Putih Catalyst Factory to optimize the development of bioenergy in Indonesia.

"With this global megatrend, Pertamina has set a vision going forward to make an energy transition by optimizing Indonesia's natural resources. Moreover, palm oil is one of the many natural resources in Indonesia. Therefore the bioenergy that we will develop a lot is based on palm oil," Nicke said.

Nicke added that the construction of this catalyst factory would also encourage TKDN in the oil and gas industry and the chemical industry. Furthermore, many types of catalysts will also be found. Therefore, through this factory, we can produce many catalysts from within the country.

"The target market already exists, and we are committed to opening a refinery for trials. Pertamina also commits to invest in the Merah Putih Catalyst Factory. Hopefully, this can all enhance the national industry and absorb a large workforce," concluded Nicke. **

https://www.pertamina.com/en/news-r...signs-joint-venture-national-catalyst-factory

 

[Nike]

Indofood, ICBP book double-digit growth in first half of 2020

• Riska Rahman
  The Jakarta Post
  

Jakarta / Wed, August 5, 2020 / 08:00 pm
Consumer products of PT Indofood CBP Sukses Makmur (ICBP) (tempo.co/Subekti)
0
Shares

• 
  
• 
  
• 
  
• 
  
• 
  

Food manufacturing giant PT Indofood Sukses Makmur and its subsidiary, processed food company PT Indofood CBP Sukses Makmur (ICBP), have managed to book double-digit profit growth in the first half of the year thanks to an increase in sales and a drop in production costs.

Indofood booked an 11.7 percent year-on-year (yoy) increase in profit to Rp 2.8 trillion (US$195 million) in the first half of 2020. The rise in profit during the period was in line with the firm’s sales, which rose 2 percent to Rp 39.4 trillion, while cost of goods sold declined 1.2 percent to Rp 26.9 trillion.

Indofood president director and chief executive officer Anthoni Salim said Tuesday that the company managed to maintain a positive performance despite the global challenges caused by COVID-19.


“We expect this challenging situation to continue until the second half of the year, so we will continue to maintain supplies and product quality for our clients,” he said in a statement.

Mirae Asset Sekuritas analyst Mimi Halimin said that she had expected the solid performance early in the year.

“Indofood’s revenue in the second quarter of this year was quite resilient as it was supported by the recovery of its agribusiness segment,” she said.

Read also: Consumer goods firms grow in Q1 amid economic crisis


Agribusiness sales rose 7 percent yoy to Rp 6.88 trillion from January to June. The relaxation of lockdown measures in several countries in the second quarter of the year boosted crude palm oil prices during the period, Kontan reported.

Although sales in the firm’s wheat manufacturing segment, Bogasari, contracted 4.5 percent yoy to Rp 11.08 trillion, its consumer-branded product sales managed to record positive growth during the period.

Consumer-branded products, which include famous instant noodle brand Indomie operated by ICBP, recorded 4.15 percent yoy growth during the first six months of the year to Rp 23.05 trillion as the sale of instant noodles, the company’s biggest contributor, increased 6.31 percent yoy to Rp 15.49 trillion.

The growing top line during the period, however, was mainly supported by its strong sales in the first quarter of the year as sales in the second quarter were slower, Mimi said.

“We note that ICBP’s top line in the second quarter of this year also got hit by the sluggish economic activities due to the implementation of large-scale social restrictions (PSBB),” she said, adding that the company’s revenue from March to June saw a quarterly contraction of 8 percent.

The PSBB were implemented in most regional administrations across the country as part of efforts to curb the spread of the coronavirus. The measures forced non-essential businesses to shutter their doors and saw millions face unemployment.

Despite the weaker sales in the second quarter, ICBP still managed to book Rp 3.38 trillion in profit throughout the first quarter, a jump of 31.4 percent yoy.

Anthoni, the former CEO of ICBP, said that the firm would also focus on maintaining the health of its employees and preserve product quality for its customers.

“We will also improve our ability to adapt swiftly to the ever-changing market dynamics,” he said.

Read also: Investors wary of Indofood CBP’s acquisition of noodle maker Pinehill

In the meantime, ICBP has announced that its shareholders have consented to its plan to acquire all of the shares of Pinehill Company Limited (Pinehill Group), which supplies Indomie to the Middle East, Africa and Serbia.

Corporate secretary Gideon A. Putro said in February that the company responded to its British Virgin Island affiliates, Pinehill Corpora Limited and Steele Lake Limited, on an offer to acquire Pinehill Group.

Pinehill Group’s core business was manufacturing instant noodles in Saudi Arabia, Nigeria, Turkey, Egypt, Kenya, Morocco and Serbia under the “Indomie” brand licensed by ICBP’s parent company, Indofood.

Indofood’s share price, traded under the code INDF, had gained 4.44 percent to Rp 7,025 as of 2:38 p.m. on Wednesday. Meanwhile, ICBP’s share price went up by 4.74 percent from the day before to Rp 10,500.

https://www.thejakartapost.com/news...ouble-digit-growth-in-first-half-of-2020.html

 

[Nike]

Bio Farma commences phase 3 clinical trial for COVID-19 vaccine
6 hours ago

A medical worker interviewed volunteers for the clinical trial of the COVID-19 vaccine at the Faculty of Medicine, Padjajaran University, in Bandung on Thursday (Aug 6, 2020). ANTARA/Bagus Ahmad Rizaldi

"On the occasion of our 130th anniversary today on Thursday (August 6), we will start the clinical trial for development of the COVID-19 vaccine."
Jakarta (ANTARA) - State-owned vaccine manufacturer Bio Farma has begun the third phase of the clinical trial for a COVID-19 vaccine from China-based biopharmaceutical company Sinovac Biotech on Thursday.

"On the occasion of our 130th anniversary today on Thursday (August 6), we will start the clinical trial for development of the COVID-19 vaccine," Bio Farma President Director Honesti Basyir stated during a virtual ceremony to celebrate the pharmaceutical firm's anniversary in Bandung, West Java, on Thursday.

Basyir pointed to the wild rush among nations worldwide to find a vaccine for the novel coronavirus SARS-CoV-2 that causes COVID-19.

"Only this vaccine can help in restoring normalcy back into our lives. Of course, we do not want to wear masks and face shields and maintain social distancing forever, as it will affect our social interactions. Humans are social beings," he affirmed.

Basyir sought the support of all parties for the smooth running of the clinical trial, so that the pharmaceutical holding, also including Kimia Farma and Indofarma, could produce the vaccine.

On July 19, a total of 2,400 doses of the potential COVID-19 vaccine developed by Sinovac Biotech arrived in Indonesia and were delivered to Bio Farma, with the support of the State Enterprises Ministry and Foreign Affairs Ministry that viewed the vaccine as diplomatic goods.

Bio Farma is optimistic of commencing production of the Chinese COVID-19 vaccine Sinovac in the first quarter of 2021, if the third phase clinical trial were to run smoothly.

The third phase of the clinical trial, scheduled to run for six months, is expected to conclude by January 2021.

The vaccine has cleared several phases before the clinical trial in August, including the laboratory trial at Bio Farma's laboratory, and was required to secure several permits.

The phase 3 clinical trial will be conducted at the Clinical Trial Center of the Medicine Faculty of Padjajaran University (Unpad).

The trial will involve 1,620 volunteers aged between 18 and 59 years that meet a specific criteria. The rest of the vaccine will be used for lab tests at several laboratories, including Bio Farma and the National Food and Drug Testing Center (PPOMN).
Related news: Government prioritizing speed, safety, precision in COVID-19 vaccine

Related news: VP Amin hopes COVID-19 vaccine would become available mid-2021

EDITED BY INE

Reporter: Aji Cakti, Sri Haryati
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2020

https://en.antaranews.com/news/1536...s-phase-3-clinical-trial-for-covid-19-vaccine

 

[Nike]

Farmland spanning 700 hectares readied for strengthening food security
6 hours ago

Head of the Rural People's Economic Empowerment Unit in Jayapura District Elisa Yarusabra (ANTARA News Papua/HO-Humas COVID-19 Kabupaten Jayapura)

Local food crops will be planted in those 700 hectares of farmland to boost the residents' economy
Sentani, Papua (ANTARA) - Jayapura's district government bolstered its food security program amid the ongoing novel coronavirus disease (COVID-19) pandemic to fulfill the food requirements of residents in five sub-districts and 139 villages by preparing farmland spanning 700 hectares.

"Local food crops will be planted in those 700 hectares of farmland to boost the residents' economy," Head of the Rural People's Economic Empowerment Unit in Jayapura District Elisa Yarusabra remarked here on Thursday.

The district government has worked alongside local communities to realize its food security program by offering financial aid to the tune of Rp100 million to every village, he noted, adding that the government had allotted a budget of Rp14 billion for the program.

Yarusabra stated that the district government's food crops and horticulture office had provided agricultural advisors to assist local farmers in villages.

According to ANTARA's observation, despite a steady rise in Indonesia's population, the country had yet to achieve food security, which by definition is related to "food availability, food access, and food utilization" (USAID 1995 in FAO).

Instead of feeding its people the rice produced by its own farmers, the central government has repeatedly imported rice over the past years to meet the public's requirements.

This condition has, indeed, posed a grave challenge and does not bode well with Indonesia's status as one of the world's top agricultural countries.

Indonesia would be better off not importing rice from countries, including Thailand and Vietnam, on a permanent basis since it would potentially disadvantage local farmers and threaten its national security in the long term.

On April 21, 2020, President Widodo had called on officials to make a precise assessment of Indonesia's rice stocks.

The president's directive came on the back of the FAO of the United Nations' warning of the COVID-19 pandemic triggering a global food crisis.

To enable the Indonesian farmers to optimize the profitable uses of their farmland for supporting the government's efforts to make the country a food barn, the Ministry of Agriculture has encouraged them to implement an integrated farming method.
Related news: Bulog readies land for building warehouse in food estate area

Related news: Family farms vital to food security, in need of support: FAO

EDITED BY INE

Reporter: Muhsidin, Rahmad Nasution
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2020

https://en.antaranews.com/news/1536...tares-readied-for-strengthening-food-security

 

[Nike]

Plantation Company prioritizing palm oil, sugar for food independence
5th August 2020

Chairman of the National Plantation Holding, Abdul Ghani (middle) at a press conference themed "PTPN Group Sugar to Penetrating Retail Market," held in Jakarta, Wednesday (5/8/2020). ANTARA/Mentari Dwi Gayati/ac.

We will cut down the land for rubber and tea and instead expand those for sugar and palm oil. It is part of the role of PTPN, as a state-owned enterprise, in supporting national food independence
Jakarta (ANTARA) - National Plantation Holding, housing the National Plantation Corporation (PTPN) as its subsidiary, will channel its attention on key commodities -- palm oil and sugar -- to mark commitment to maintaining food independence of the country.

Chairman of the National Plantation Holding Abdul Ghani expounded that the company has in place a strategy to bolster the production of sugar and palm oil commodities by reducing plantation areas for other commodities, including rubber and tea.

"We will cut down the land for rubber and tea and instead expand those for sugar and palm oil. It is part of the role of PTPN, as a state-owned enterprise, in supporting national food independence," he stated during a press conference themed “PTPN Group Sugar to Penetrating Retail Market” held in Jakarta on Wednesday.

Ghani expounded that the company will strengthen the production of sugar by expanding the area of sugarcane plantation, from some 56 thousand hectares to around 80 thousand hectares.

One of the expansion measures will encompass converting the rubber land owned by the subsidiary's land and synergizing with other SOE companies, including Perum Perhutani.

Ghani noted that the company's decision to reduce the area of rubber and tea plantations was based on the rising national sugar demand. Fulfillment of domestic sugar production through the expansion of sugarcane plantation areas is deemed to be an effective means of reducing the country's dependence on sugar imports.

In 2019, PTPN recorded that the national sugar demand had reached some six million tons, comprising three million tons for household consumption and three million tons for the food and beverage industry. In the meantime, domestic sugar production had only reached 2.2 million tons.

On the other hand, the contribution of rubber and tea to the scale of food independence can be substituted with other commodities.

"Rubber is very useful for exports, but if it is related to the realization of national food security, it can be replaced with other crops. In future, PTPN will focus on the two main commodities of sugar and palm oil," Ghani stated.

Ghani noted that the PTPN Group targets sugar production to reach one million tons this year, with a yield of some eight percent.

The production is sourced from PTPN's sugarcane plantations of PTPN II, PTPN VII, PTPN IX, PTPN X, PTPN XI, PTPN XII, and PTPN XIV or the farmers' property this year of around 168 thousand hectares, and sugarcane production is projected to reach 12.2 million tons.
Related news: Family farms vital to food security, in need of support: FAO

Related news: Govt to focus spending on food security, ICT next year: minister

EDITED BY INE

Reporter: Mentari Dwi Gayati/Aria Cindya
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2020

https://en.antaranews.com/news/1536...ritizing-palm-oil-sugar-for-food-independence

 

[Nike]

IDX: Indonesians Have More Phones Than Stock Market Shares
Translator:
Ricky Mohammad Nugraha

Editor:
Laila Afifa
6 August 2020 14:39 WIB
0 Comment
AddThis Sharing Buttons
Share to Facebook
Share to TwitterShare to WhatsAppShare to LINEShare to More


TEMPO.CO, Jakarta - Indonesia Stock Exchange (IDX) Commissioner Pandu Patria Sjahrir on Thursday said a large portion of Indonesians do not invest their funds in the stock market as there is only 3 million or one percent of people who do.

“Indonesians have more mobile phones than stock market shares,” said Pandu in today’s virtual discussion held by IDN Times, August 6.

Meanwhile, Pandu said that in the United States, one out of four people has invested in the stock market. He argued that Indonesia’s ideal statistic must see at least 10 percent of shareholders compared to the total population of 267 million people.

He believed the current crisis that people face should be used as a momentum to start investing.


“Mutual funds are pretty good, why not. People say cash is king. In crises like this, it is best to purchase something by investing to create value,” said Pandu Patria Sjahrir.

The IDX commissioner suggested purchasing blue-chip shares for those who are interested to start, such as in telecommunication, culinary, and transportation companies.

Read: Covid-19 Pandemic, IDX: More Investors Coming

FRANCISCA CHRISTY ROSANA

https://en.tempo.co/read/1373113/idx-indonesians-have-more-phones-than-stock-market-shares

 

[Indos]

Farmland spanning 700 hectares readied for strengthening food security
6 hours ago

Head of the Rural People's Economic Empowerment Unit in Jayapura District Elisa Yarusabra (ANTARA News Papua/HO-Humas COVID-19 Kabupaten Jayapura)

Local food crops will be planted in those 700 hectares of farmland to boost the residents' economy
Sentani, Papua (ANTARA) - Jayapura's district government bolstered its food security program amid the ongoing novel coronavirus disease (COVID-19) pandemic to fulfill the food requirements of residents in five sub-districts and 139 villages by preparing farmland spanning 700 hectares.

"Local food crops will be planted in those 700 hectares of farmland to boost the residents' economy," Head of the Rural People's Economic Empowerment Unit in Jayapura District Elisa Yarusabra remarked here on Thursday.

The district government has worked alongside local communities to realize its food security program by offering financial aid to the tune of Rp100 million to every village, he noted, adding that the government had allotted a budget of Rp14 billion for the program.

Yarusabra stated that the district government's food crops and horticulture office had provided agricultural advisors to assist local farmers in villages.

According to ANTARA's observation, despite a steady rise in Indonesia's population, the country had yet to achieve food security, which by definition is related to "food availability, food access, and food utilization" (USAID 1995 in FAO).

Instead of feeding its people the rice produced by its own farmers, the central government has repeatedly imported rice over the past years to meet the public's requirements.

This condition has, indeed, posed a grave challenge and does not bode well with Indonesia's status as one of the world's top agricultural countries.

Indonesia would be better off not importing rice from countries, including Thailand and Vietnam, on a permanent basis since it would potentially disadvantage local farmers and threaten its national security in the long term.

On April 21, 2020, President Widodo had called on officials to make a precise assessment of Indonesia's rice stocks.

The president's directive came on the back of the FAO of the United Nations' warning of the COVID-19 pandemic triggering a global food crisis.

To enable the Indonesian farmers to optimize the profitable uses of their farmland for supporting the government's efforts to make the country a food barn, the Ministry of Agriculture has encouraged them to implement an integrated farming method.
Related news: Bulog readies land for building warehouse in food estate area

Related news: Family farms vital to food security, in need of support: FAO

EDITED BY INE

Reporter: Muhsidin, Rahmad Nasution
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2020

https://en.antaranews.com/news/1536...tares-readied-for-strengthening-food-security

Good critics to the government which is conveyed by Antara that is owned by government of Indonesia. Freedom of press also works in state owned news outlet.

 

[Var Dracon]

Gesits (Indonesian electric motorcycle) being delivered

View this content on Instagram

View this content on Instagram

View this content on Instagram

View this content on Instagram

View this content on Instagram

View this content on Instagram

View this content on Instagram

View this content on Instagram