Indonesia Economy Forum

[prima99]

BKPM Links Up With Three South Korean Lenders | Jakarta Globe

Jakarta. Indonesia's Investment Coordinating Board, or BKPM, has signed a memorandum of understanding with three South Korean banks in its bid to court more investment from overseas businesses into Southeast Asia's largest economy.

In a recent statement, BKPM chief Franky Sibarani said that the government agency seeks to partner with KEB Hana Bank, Woori Bank and Shinhan Bank in efforts of increasing trade and investment relations between Indonesia and South Korea.

Both KEB Hana Bank and Woori Bank have established local presence in Indonesia as the former acquired small-sized lender back in 2007 and the latter bought a stake at a local bank last year. Meanwhile, Shinhan Bank is slated to close itsacquisition of two local lenders by the end of the year.

Franky also sealed a partnership with South Korea's business lobby group the Federation of Korean Industries, whose members include South Korean giants like Samsung Electronics, Hyundai Motor and Lotte Corporation, according to a statement.

"These partnerships will expand our network with potential investors. On top of the that, we also hope to support investors from Indonesia when they're planning to invest overseas," he said.

Indra Darmawan, director of international business partnerships, added that BKPM hopes to orchestrate several promotional efforts together with the business lobby group and the three big banks, such as investment forums.

South Korean businesses were the fourth-largest source of investment for Indonesia in the first half of the year, placing approximately $800 million in investments in Indonesia between January and June, or 5.7 percent of the country's total realized investment, data from BKPM reported.

In total, South Korea has booked 4,119 projects in Indonesia worth about $7.6 billion.


Maersk Teases Indonesia Shipping Cap with $3b Expansion Plan | Jakarta Globe

Jakarta. Indonesia's shipping law stands in the way of Danish shipping company Maersk Line's plans to invest $3 billion over the next five years in expanding its logistics business in Indonesia, State-Owned Enterprise Minister Rini Soemarno said over the weekend.

Maersk, the world's largest container shipping company, has operated in Indonesia since 1958 shipping cargo in and out of the country and now sees huge potential in domestic shipping.

"[Maersk] expressed interest to transports goods within our territory, in order to reduce logistics costs," Rini said as quoted by Investor Daily over the weekend. "But they stumbled upon our shipping law that requires majority shareholders to be locals. They wanted to be the majority."

The 2008 law states only domestic-controlled shipping firms can transport goods between islands in the archipelago, using locally-registered ships and Indonesian captains. Indonesia also introduced the cabotage principle in 2005 which rules only national ships can carry national cargoes.

Ocean-based shipping makes up the majority of Indonesia's shipping industry, responsible for transporting 826 million tons of goods in 2013. The sector grows around 5 to 6 percent each year.

President Joko Widodo has placed an emphasis on sea transportation connecting the commodity-rich eastern part of the country with the manufacturing centers in the western region as part of his infrastructure push.

But, local shipping companies still largely depend on expensive ships and spare parts from abroad, as well as high-cost financing from domestic lenders limiting their ability to expand.

The government is now revising a lists that protect certain business from foreign control in order to attract more investment as part efforts to boost the ailing economy. Still, Rini did not elaborate whether the shipping sector would be liberalized.

Maersk is among the 62-company delegate that will accompany Queen Margrethe II's state visit to Indonesia on Thursday, seeking to bolster the two countries ties in logistics, renewable energy, water management, transport and education.

 

[Daniel808]

Indonesia Considers Allowing More Foreign Investment in Businesses !


JAKARTA—Indonesia is considering revising its list of sectors in which it limits or prevents foreign investment to open investment in e-commerce, Communication and Information Minister Rudiantara said Friday, ahead of a visit by President Joko Widodo to the U.S.

Discussions on revising the list, which covers a number of sectors, come amid a series of government measures over the past month aimed at boosting investment in an economy where growth has slowed to a six-year low and the weak rupiah has weighed on company revenues.

Mr. Rudiantara said Friday that the negative-investment list was among the regulations challenging investors that the government planned to address.

“We are seriously considering opening up the list,” to e-commerce, he said.

For now, the government is only looking at allowing foreign investment in e-commerce companies valued at more than 5 billion rupiah ($367,000). Mr. Rudiantara said, there was no need to open up small and medium enterprises to foreign capital.

“We would like to nurture them. We would like to grow them internally before we open up for foreign capital at a later stage,” he said.

Startups have long been pushing for foreign investment in e-commerce, saying in addition to money, the technology and expertise of foreign companies could be of great benefit.

While restrictions would remain, such a move would likely be met positively by e-commerce players and investors.

“We see the negative-investment list generally as largely unnecessary and an impediment to investment, in e-commerce especially, which is a vibrant sector of the economy,” said Lin Neumann, managing director of the American Chamber of Commerce, which held a briefing with several ministers ahead of Mr. Widodo’s trip to Washington, D.C., on Oct. 25. Mr. Widodo will also head to Silicon Valley during his three-day stop.

E-commerce is increasingly drawing attention from investors. Many see Indonesia, a country of 250 million people where Internet penetration is low but growing as more come online through smartphones, as the next big tech gem after China and India.

As Southeast Asia’s largest economy, Indonesia provides a gateway to the region, and the nascent startup climate is poised to take off even faster given the right support and attention, industry players say.

The sector is currently valued at around $12 billion, but Mr. Rudiantara said it could grow to as much as $260 billion in the next five years. Earnst and Young, which is advising the government on the roadmap, puts the value at a more modest $130 billion, he said.

A government road map for growing e-commerce will address issues such as simplifying tax requirements, improving logistics and improving access to capital through foreign investment for the country’s biggest e-commerce firms, Mr. Rudiantara said.

For startups and SMEs, the government is discussing ways it could extend credit through programs currently available to the agricultural sector, said Mr. Rudiantara.

The negative-investment list was last revised in May 2014, opening space for some industries but closing it to others, including e-commerce. On Friday, the investment coordinating board sought input from business groups, ministries and the public on what sectors should be open for more investment.

Mr. Rudiantara said the road map would be ready before the end of the year.

Indonesia President Joko Widodo, second from left, talks with Jakarta Gov. Basuki Tjahaja Purnama, second from right, and others at the site of tunnel project for mass rapid transit in Jakarta on Oct. 8. Indonesia is trying to revitalize its economy, as growth has slowed to a six-year low. PHOTO: REUTERS

Indonesia Considers Allowing More Foreign Investment in Businesses - WSJ

 

[Mamsalaphala]

nice.

 

[pr1v4t33r]

Jokowi’s 1 year economic review: Fixing a ship surrounded by mighty waves

In a storm, it is impossible to have a ship floating comfortably. And of course, it is totally unfair to expect a ship to cruise at normal speed. Nonetheless, we can expect the ship to move accordingly, riding the mighty waves and not sinking.

This analogy should be applied when we are evaluating what President Joko "Jokowi" Widodo has done in his first year of taking office, in terms of economics and business.

read more: Jokowi’s 1 year economic review: Fixing a ship surrounded by mighty waves | The Jakarta Post

 

[prima99]

Bandung to Break Ground on First Cable Car Transit System in December | Jakarta Globe

Jakarta. After announcing it would begin construction on a 1.5 kilometer monorail track as proof of concept to attract investment, the city of Bandung revealed its aim to make a similar move for a cable car.

Bandung mayor Ridwan Kamil said construction for the cable car would begin by the end of the year, linking Jalan Gelap Nyawang to Jalan Cihampelas, one of Bandung's most popular shopping and tourist areas.

The two areas are only 800 meters away but separated by a deep ravine, forcing motorists to take a 3.8 kilometer detour.

"We will try to break ground in December," Ridwan said as quoted by Detik.com. "This [project] is a prototype. If successful, we will open a tender for other routes stretching up to 42 kilometers long."

The mayor said construction firm Aditya Dharmaputra Persada will finance and carry out the proof of concept project, with the city administration providing land and supporting facilities.

The firm's chief executive Sandjaya Susilo said the project will cost around $9 million, mainly to build a 20-meter high platform on Jalan Gelap Nyawang and a 60-meter supporting pole on the other side of the ravine.

The company will also provide between 50 to 60 cable cars with a capacity of eight to 10 people each.

"The system can support 2,400 people at once. The distance can be covered in three minutes but because [the cable cars] are mainly for tourists, we will reduce the speed," he said.

Municipal authorities have struggled to raise the estimated Rp 5 trillion ($366.8 million) to build a five-line cable car system to link the city center to its hilly suburbs, and another Rp 18 trillion needed to build a planned five-line monorail system

Ridwan on Wednesday announced plans to build a 1.5-kilometer monorail track next year, to run from Bandung’s main train station to the city’s main park, as a proof of concept to attract investment in its public transportation sector.

The mayor said both proof of concept projects would hopefully convince the central government to either simplify Indonesia’s investment procedures or help the city finance the entire project.



Bandung to Build Monorail Proof of Concept to Lure Investors | Jakarta Globe

Jakarta. The Bandung city administration plans to build a 1.5-kilometer monorail track next year as a proof of concept to attract investment in its public transportation sector.

Municipal authorities have struggled to raise the estimated Rp 18 trillion ($1.3 billion) needed to build a planned five-line monorail system aimed at easing the progressively worsening traffic in the West Java capital.

Mayor Ridwan Kamil also wants the monorail network – Indonesia’s first, once completed – to serve as an engineering showcase as he tries to rebrand Bandung into a technology hub.

He said the city-funded proof-of-concept line, to run from Bandung’s main train station to the city’s main park, both in the city center, would hopefully convince the central government to either simplify Indonesia’s investment procedures or help the city finance the entire project.

Construction of the proof of concept will begin early next year, with city engineers still working out the cost.

“The prototype will use the ‘metro capsule’ technology,” Ridwan said as quoted by Tempo, referring to a transit system that uses a fleet of small, independently operating “capsules” to move commuters around the city.

The same technology was once proposed for use in Jakarta, but the city administration opted instead for a higher-volume light rail transit system.

The Bandung administration also plans to introduce cable cars to link the downtown area to the hilly suburbs.



Danish Royals to Boost Economic Ties in Indonesian State Visit | Jakarta Globe

Jakarta. Queen Margrethe II and the Prince Consort Henrik of Denmark will be in Indonesia this week for their first state visit to the country with the intention of increasing bilateral trade and investment ties.

Danish Ambassador Casper Klynge said the royal couple's three-day visit, with a delegation that includes two ministers and representatives of 62 Danish companies, would mark "a historic moment for Denmark's relationship with Indonesia," which have enjoyed strong relations for the past 65 years.

The Danish ministers who will visit Indonesia include Foreign Minister Kristian Jensen and Energy, Utilities and Climate Minister Lars Christian Lillehold. Meanwhile, the companies represented in the delegation come from various sectors such as maritime, agribusiness, urban and clean-tech solutions and design lifestyle.

During the visit, Queen Margrethe II and Prince Henrik are scheduled to meet with President Joko Widodo and Vice President Jusuf Kalla, as well as several ministers, such as Foreign Minister Retno L.P. Marsudi and Coordinating Minister for Maritime Affairs and Natural Resources Rizal Ramli.

The royal couple will also attend an array of business and cultural events in Jakarta, Surabaya and Yogyakarta.

"There is a strong case of expanding trade and business opportunities between [Denmark and Indonesia]... We are slowly recognizing that 21st-century Asia is not only about China and India. It's also about Indonesia," Klynge told reporters during a press briefing in Jakarta on Tuesday.

Total trade between Indonesia and Denmark reached $240.3 million between January and July this year, where Indonesia saw a $10 million surplus, according to Trade Ministry data.

Danish businesses ranked 32nd on investment realization in Indonesia in the January-June period with seven projects totaling $1.7 million in value, according to Indonesia's Investment Coordinating Board (BKPM).

"We hope that a massive investment will be announced during the meetings. It will be in the energy sector," Klynge said, adding that the Danish business delegation intended to sign up to eight agreements during the state visit.


Indonesia to Woo American Investment in E-Commerce Sector | Jakarta Globe

Jakarta. Indonesia's biggest e-commerce companies will meet high-profile Silicon Valley venture capitalists next week, a cabinet minister said, when they accompany President Joko Widodo on a US trip to woo investment in the country's fledgling tech sector.

Widodo, who just marked a year in office, is keen to attract much-needed foreign investment to kick start Southeast Asia's largest economy, which has been growing at its slowest pace in six years.

Start-ups like Gojek, a motorcycle taxi hailing app, and Tokopedia, an online store, will be among over five companies seeking investments of hundreds of millions of dollars from firms like Sequoia, Communications Minister Rudiantara said.

"The president's visit to Silicon Valley is a totally different ballgame to his visit to the east coast of the US," Rudiantara told Reuters in an interview.

He said the visit to the world-renowned tech hub was aimed specifically at attracting private sector investment.

Widodo's visit to California will come after meetings with President Barack Obama, US congressional leaders and executives from energy and mining companies in Washington.

Indonesia recently announced it is considering revising its negative investment list to allow foreign investment in the e-commerce sector. Rudiantara declined to comment on how much foreign ownership would be allowed.

The country currently allows no foreign investment in the local e-commerce industry, which analysts predict will be the region's largest by 2020, on the back of a voracious appetite for Internet use in Indonesia.

Indonesians are among the most active users in the world of social media websites like Facebook and Twitter.

In California, Widodo is also scheduled to meet Apple CEO Tim Cook as well as executives from Google , Facebook and Microsoft.

Apple is looking to invest in sustainable tin mining in Indonesia, the world's biggest tin exporter, and in setting up research and development facilities there, according to cabinet ministers.

US Ambassador Robert Blake told reporters earlier on Wednesday that a wide range of agreements was set to be signed by Widodo and Obama next week to "expand cooperation in maritime, energy and defense sectors".

 

[acelaw]

Japan to Make Indonesia as Production Base: Minister


TEMPO.CO, Jakarta-Industry Minister Saleh Husin said that Japanese investors operating in the Aichi Prefecture planned to make Indonesia as its production base for foreign markets.

“They said that Indonesia would be one of their main investment destinations. They want to make Indonesia as a production base for exports,” Saleh said in Jakarta on Wednesday, October 21, after a meeting with Aichi Governor Hideaki Omura who led the delegation of the Chubu Economic Federation and the Nagoya Chamber of Commerce and Industry.

The Chubu Economic Federation is an association of companies operating in various industries in Nagoya.

Saleh added that Japan also asked to set a direct flight route connecting Jakarta and Nagoya or Denpasar and Nagoya to facilitate cooperation of the two countries.

---snipped---
source

Indonesia becomes Isuzu’s third global hub


Japanese automaker Isuzu Astra Motor Indonesia (IAMI) officially opened on Thursday the company’s new commercial vehicle assembly plant in the Karawang industrial area, West Java, to tap into rising demand both in domestic and export markets.

With the operation of the new plant, Indonesia has become Isuzu’s third global production hub after Japan and Thailand, IAMI’s president director Yohannes Nangoi said after the inauguration of the new plant, which was also attended by Industry Minister Saleh Husin and Trade Minister Rachmat Gobel.

He said the new plant, which has an annual production capacity of 52,000 units of commercial trucks a year, comprising 42,000 units of Isuzu Elf light trucks and 7,000 units of Isuzu Giga mid-sized trucks, replaced the operation of the company’s first truck assembly plant in Pondok Ungu, East Jakarta.

---snipped---
source

 

[pr1v4t33r]

crysis in indonesia usually lead to good policy making.

 

[Nike]

RI`s economic growth still better than other countries`: World Bank
Kamis, 22 Oktober 2015 20:22 WIB | 770 Views

Jakarta (ANTARA News) - The World Bank has stated that Indonesia still has better economic growth than other commodity exporting countries.

"The Indonesian growth is still better than that of other commodity exporting countries," Chief of the World Bank representative for Indonesia Rodrigo Chavez said while launching the Indonesia Economy Quarterly Report of October 2015 edition here on Thursday.

Indonesia is facing the same challenge as other countries because of Chinas effort toward economic rebalancing and the US preparations for the normalization of its monetary policy.

The Indonesian governments efforts, including granting stimuli, reforming policies and improving the quality of its state spending have helped the country overcome the global volatility which has hampered economic growth.

"Of course, the efforts can also help Indonesia reduce (its burden) in the following years," he said.

Indonesias national gross domestic product (GDP) remained at 4.7 percent in the second quarter due to the weakening global trade, low commodity prices, and slow investment and domestic consumption growth, he said.

"The implementation of the governments policy is a good step in the reform efforts, thereby strengthening investors confidence," he said.

Meanwhile, World Bank chief economist Ndiame Diop said various policies taken by the Indonesian government amid global economic uncertainty have propped up budget absorption in the third quarter to 21.4 percent in the real condition during the first nine months of 2015 compared to the same period last year. (*)

RI`s economic growth still better than other countries`: World Bank - ANTARA News

 

[prima99]

Danish Bring Large-Scale Wind Power Project to Indonesia | Jakarta Globe

Jakarta. Indo Wind Power, a subsidiary of Asia Green Capital Partner, signed an engineering, procurement and construction (EPC) agreement with Vestas Wind Systems, a Denmark-based wind turbine manufacturer for a wind power project in Makassar, the capital of South Sulawesi.

While both companies did not disclose the value of project Jeneponto 1, they did mention that the project would be the first large utility-scale wind farm in Indonesia.

“The signing of this agreement with Vestas for our wind project in South Sulawesi is another step in the development of the wind sector in Indonesia. We strongly believe that the wind sector in Indonesia is set for a significant growth," said Edgare Kerkwijk, Asia Green Capital Partner's managing director.

The signing ceremony was witnessed by Queen Margrethe II of Denmark, who is in Indonesia for an official state visit, Danish Minister for Energy, Utilities and Climate Lars Christian Lilleholt, Danish Minister for Foreign Affairs Kristian Jensen and the Danish ambassador to Indonesia, Casper Klynge.

The Jeneponto 1 wind farm will be located around 70 kilometers southeast of Makassar. The wind farm will have a capacity of 62.5 megawatts, consisting of 25 2.5-megawatt wind turbines.

Construction is expected to start in May 2016.

"We are confident that bringing our technical expertise to the market can support wind power growth in Indonesia," said Chris Beaufait, Vestas Asia-Pacific and China president, adding that wind power can offer a solution to the growing electricity demand in the country.

Indo Wind Power, who's current portfolio totaled 182.5 megawatts in South Sulawesi and West Timor, is scheduled to sign another wind farm construction contracts in the coming months.



Australia PM Plans Indonesia Trip by Year's End | Jakarta Globe

Padang. Recently appointed Australian Prime Minister Malcolm Turnbull intends to make a trip to Indonesia within the next two months, Australia's Foreign Affairs Minister Julie Bishop confirmed on Friday.

"We're hoping that the prime minister could visit President Widodo this year. Both of them have already had very constructive and positive talks," Bishop said on the sidelines of the Indian Ocean Rim Association (IORA) ministerial meeting in Padang, West Sumatra.

Bishop arrived on Thursday night at the Sumatran province, which has been severely affected by haze from forest and peatland fires.

She said that the two leaders would like to strengthen ties between their nations as both face global and regional challenges.

Bishop added that Trade and Investment Minister Andrew Robb would also bring an Australian delegation consisting of 250 business executives to Indonesia for three days from Nov. 17.

"They will meet their partners here to discuss opportunities of boosting bilateral trade and the economy," Bishop said.

Meanwhile, Indonesia's foreign affairs minister also said that Indonesia and Australia will organize a meeting between foreign affairs and defense ministries to be held on Dec. 21 .

"We will also talk about Australia's plan to open a consulate general office in Makassar [South Sulawesi], which they target [to begin operations] next year," Minister Retno Marsudi said.

Australian-Indonesian relations have been strained in recent years, over spying and asylum seeker issues as well as the execution of two Australian nationals in Indonesia for drug offenses, in April.

However more recently, Australia has been helping Indonesia fight the haze-causing wildfires.



Indonesia, Denmark SIgn MOU on Maritime Sector Cooperation | Jakarta Globe

Jakarta. Indonesian and Danish officials have signed a memorandum of understanding for greater cooperation in the maritime sector.

The agreement was signed on Thursday in Jakarta by Rizal Ramli, Indonesia’s coordinating minister for maritime affairs, and Danish Foreign Minister Kristian Jensen, with Queen Margrethe II of Denmark present at the signing.

"This is good, we’re glad to partner with Denmark,” Rizal told reporters after the signing at the State Palce. “[Denmark] has a high ethical standard and its education, as well as its human development index, are among the best in the world. Hopefully the partnership will greatly improve our own development.”

He did not elaborate on the specifics of the MOU, which included a deal with Danish shipping line Maersk, but a statement issued by his office later said the two countries would cooperate on data and information exchange for maritime policies; developing maritime industry and infrastructure, including the building of more environmentally friendly vessels; as well as helping Indonesia develop a comprehensive maritime economic zone.

Both countries will also partner on policies to monitor and inspect ports, ensure the safety of seagoing passengers and sailors, boost port capacity and marine technology, and train sailors, the statement said.

“While our countries are greatly different in size and scope, there is much more than meets the eye,” Jensen said. “Indonesia and Denmark are both maritime nations surrounded by open seas. Be it maritime, agribusiness, clean tech or design and lifestyle, our nations have much to offer one another.”



Indonesia, India to increase bilateral cooperation - ANTARA News

Jakarta (ANTARA News) - Indonesian Foreign Minister Retno LP Marsudi met Indian Minister of State for Foreign Affairs Vijay Kumar Singh here on Friday in which both sides agreed to increase bilateral cooperation through the Indian Ocean Rim Association.

The two met on the sidelines of the IORA meetings in Padang, West Sumatra, according to a written press statement issued by the foreign ministry and received here.

The two exchanged views regarding Indonesia-India Eminent Persons Group which will be holding its first meeting in Indonesia at the end of this year.

The II-EPG will comprise personalities from the two countries who would exchange views to produce recommendations for strengthening bilateral strategic cooperation.

Minister Retno hailed the Indian Vice President Mohammad Hamid Ansaris plan to visit Indonesia from November 1-4, 2015.

During the visit, the Indian Vice President is also scheduled to meet his Indonesian counterpart Jusuf Kalla to discuss efforts to enhance bilateral relations.

Several concrete cooperation programs would be discussed, including a memorandum of understanding on renewable energy and cultural exchange.

The Indian Vice President is also scheduled to attend the Indonesia-India Business Forum and deliver a general lecture.

Besides discussing Ansaris upcoming visit, the two ministers also discussed the planned Fifth Joint Commission Meeting in Indonesia.

"This is a forum for the two countries to review progress in our bilateral relations," Minister Retno said.

The two ministers also discussed plans to give a free visa facility to Indonesian citizens who wish to visit India and Garuda Indonesias plan to open a new route to India in the near future.

India has been one of Indonesias important strategic trade partners, with the total trade between the two countries reaching US$16.20 billion in 2014 while Indian investment in Indonesia reached US$37.1 billion in 137 projects. Around 217,000 Indian tourists visit Indonesia every year.



Trade Expo Indonesia (TEI) 2015 Opens with 118 Countries Ready to Make Transactions - ANTARA News

JAKARTA, Oct 24, 2015 - (Antara) - Indonesia is once again holding its largest international scale trade promotions exhibition, the Trade Expo Indonesia (TEI) 2015. The 30th TEI event will be attended by more than 14 thousand buyers from 118 countries. TEI this year will be carrying the theme "Sourcing at Remarkable Indonesia" and is being held at the Jakarta International Expo (JIExpo) from the 21-25 October, showcasing export oriented products and services.

The Indonesian Minister of Trade, Thomas Trikasih Lembong, said that TEI was an important instrument for promoting Indonesian exports. "TEI is one of the tools to increase market access and export target market diversification, particularly to nontraditional and emerging markets. The same as last year, TEI this year will focus on Business to Business transactions (B2B)," said Trade Minister Tom at the opening of TEI on Wednesday.

In order to make TEI become an effective promotional event, the Ministry of Trade is focused on ways to bring in buyers from all over the world. This was done by way of cooperation with the Ministry of Foreign Affairs; through Indonesian representative offices abroad such as Indonesian Embassies, Trade Attaches, Indonesian Trade Promotion Centers (ITPCs); and also through cooperation with the Chambers of Commerce and Industry of friendly countries to spread information abroad about the holding of TEI.

"Efforts to diversify markets has continuously been carried out by the Ministry of Trade and it seems that now the buyers delegation list comprises mostly of countries from nontraditional markets, including Nigeria, India, Saudi Arabia, Bangladesh, and Malaysia," said Tom.

TEI this year will occupy a 50.000 m2 of exhibition space, larger than last year, which only occupied 40,000 m2 with occupancy reaching 99% of the target. The products that will be showcased include manufactured products (automotive products, footwear, textile products, household appliances, building materials, housewares, consumer goods, paper products, health equipment, rubber products, etc.), professional services, furniture, home decorations, processed food, fishery products, agriculture products, and other creative products.

The "Pride of Indonesia" Pavilion has also returned with local products that are the pride of Indonesia and has been accepted in the global market. There will also be an ASEAN Pavilion set up with an information stand by ASEAN representative countries as well as an ASEAN Economic Community Center (AEC Center) to welcome the implementation of the ASEAN Economic Community (AEC), which will go into effect in December 2015.

Events at TEI 2015

On the first day of TEI 2015, several trade contracts worth more than USD 8 million were already recorded. The signing of trade contracts were conducted between seven Indonesian exporters with five buyers, namely PT. Cipta Panel Buana with Kohnan Shoji Co., Ltd. from Japan, PT. Anggana Catur Prima with JANS Enterprises from the United States, PT. Perkebunan Nusantara VIII with Kong Wooi Fong Tea Merchant Sdn. Bhd from Malaysia, Sinar Sosro with Eastern Cross Trading Pty. Ltd. from Australia, and PT. Inti Bintang Mas Perkasa with Canejava Pty Ltd from Australia.

TEI 2015 also continuously strives to inform about the latest in developments and regulations of the international export market by holding various activities such as the Trade, Tourism, and Investment (TTI) Seminar to inform exporters, buyers, and investors about taking advantage of international trade and investment opportunities. Regional Discussions will also be held to inform about potential products and foreign market access as well as discuss issues related to international trade.

Besides that, there will also be a Business Counseling, which is a consultation event facilitated by the Trade Attache and the Head of the Indonesian Trade Promotion Center (ITPC) in order to provide information access and information on penetrating foreign markets for exporters. There will also be a Business Matching to introduce buyers to suitable Indonesian exporters that matches the products the buyers are looking for.

Moreover, TEI 2015 have also awarded the Primaniyarta Award to 30 Indonesian exporters for various categories, namely 7 companies in the Domestic Capital Investment High-performance Exporter Category, 7 companies in the Foreign Capital Investment High-performance Exporter Category, 6 companies in the Global Brand developers Category, 7 companies in the Superior Potential Exporters Category, and 3 companies in the Exporters of New Market Pioneers Category.

Afterwards, the presentation of the Primaduta Award to 60 loyal buyers that have been importing Indonesian products. This is a form of appreciation presented by the Government to those who have contributed to increasing Indonesian exports. "We hope that TEI this year will be able to result in even more trade cooperation between Indonesian exporters with buyers so that it could directly contribute to the growth of the national export performance," said Trade Minister Tom.

New Zealand opens mission to ASEAN in Jakarta - Xinhua | English.news.cn

WELLINGTON, Oct. 23 (Xinhua) -- New Zealand has officially opened its first diplomatic mission to the ASEAN (Association of South East Asian Nations) bloc in Jakarta, Trade Minister Tim Groser said Friday.


The opening of the New Zealand Mission was a significant demonstration of commitment to the region, said Groser who opened the mission.

"It comes at an important time. This year marks the 40th anniversary of New Zealand's formal relationship with ASEAN, and also the year that ASEAN will launch the ASEAN Community," Groser said in a statement from his office.

"ASEAN is now home to around 625 million people and has a combined GDP of 2.4 trillion U.S. dollars. Taken as a bloc, ASEAN is now the seventh largest economy in the world and New Zealand's fourth largest trading partner. ASEAN has become a pillar of New Zealand trade."

Groser's visit to Indonesia was part of a series of events held in ASEAN countries this year to celebrate the 40th anniversary of New Zealand-ASEAN relations.

 

[pr1v4t33r]

Exceeding Expectations in Indonesia
The perception that this administration has given Indonesia little to celebrate is resoundingly wrong.

Indonesian President Joko Widodo will meet U.S. President Barack Obama on Monday in his first official visit to the United States since assuming office last October. Domestic reviews of Mr. Widodo’s performance are mostly negative due to deteriorating economic fundamentals. But the president’s tenure has exceeded expectations in other ways, and he is undertaking economic reforms that could help restart growth. As a potentially transformational leader, he deserves U.S. engagement and support.

readmore: Exceeding Expectations in Indonesia - WSJ

 

[pr1v4t33r]

Widodo says Indonesia intends to join TPP deal
Indonesian President Joko Widodo, speaking after a meeting with U.S. President Barack Obama on Monday, said his Southeast Asian country intends to join the Trans-Pacific Partnership trade deal the United States has forged with 11 other nations.

"We are the largest economy in Southeast Asia," Widodo said through a translator. "And Indonesia intends to join the TPP."

readmore: http://asia.nikkei.com/Politics-Eco...Widodo-says-Indonesia-intends-to-join-TPP-deal

 

[initial_d]

crysis in indonesia usually lead to good policy making.

It depents on the leader, when megawaty and gusdur on R.I 1 seat, they make lot's of blunder

 

[pr1v4t33r]

Indonesia in The Changing World
A Conversation With President Joko Widodo of Indonesia

Brookings Institute

 

[Nike]

Garuda posts profit of $51 million
Jumat, 23 Oktober 2015 23:12 WIB | 1.192 Views

Jakarta (ANTARA News) - Garuda Indonesia has announced that its net income jumped 123.4 percent to US$51.4 million in the year that ended on September 30, 2015, after it suffered a loss of US$220.1 million during the same period last year.

The national flag carrier also managed to increase its total revenues from US$2.831 billion in the January-September 2014 period to US$2.845 billion in the corresponding period this year, Garuda Indonesia President Director M Arif Wibowo said here on Friday.

Total expenses fell to US$2.72 billion from US$3.08 billion.

"The companys increased performance is a result of the application of business development strategy through the so-called "quick wins" program and tight cost efficiency discipline, implemented in a sustainable manner since early 2015," he said.

The performance was achieved at a time when the aviation industry was facing a wide range of challenges, including economic slowdown, volcanic eruption and haze disaster, he said.

During the January-September 2015 period, Garuda Indonesia Group including Citilink managed to transport 24.55 million passengers, up 17.5 percent from 20.89 million passengers in the same period last year, he said.

Just in the third quarter, Garuda Indonesia transported 17.69 million passengers comprising 14.51 million domestic passengers and 3.18 million international passengers. During the same period last year, the company had handled 15.56 million passengers.

Arif said Citilink, a subsidiary of Garuda Indonesia, carried 6.87 million passengers in the year that ended on September 30, 2015, a 28.8 percent increase compared to 5.33 million during the same period last year.

The frequency of Garuda Indonesias and Citilinks flights in the domestic and international sectors rose to 186,105 in the third quarter of 2015 from 165,642 in the same period last year.

"In addition, the production capacity (availability seat kilometer/ASK) also increased from 36.9 billion (in 2014) to 38.75 billion in 2015," he said.

As of now, Garuda Indonesia Group operates 181 planes including eight Boeing 777-300ERs, 22 Airbus A330-200/300s, two Boeing 747-400s, 10 ATR72-600s, 15 Bombardier CRJ1000 NextGen, 88 Boeing 737-300/500/800NGs, and 36 Airbus A320s, with the average age of 4.7 years.(*)

Garuda posts profit of $51 million - ANTARA News

 

[MarveL]

Google Alphabet's Wi-Fi beaming balloons prepare to lift off in Indonesia
Google's parent company wants to connect remote regions to the Internet. Next stop: Southeast Asia.

Google co-founder Sergey Brin said more people around the world need access to the Internet.

MOUNTAIN VIEW, California -- Alphabet's Project Loon is one step closer to taking flight.

The project uses high-flying balloons to beam Wi-Fi access to remote areas of the globe. Alphabet, the new parent company of Google, said Wednesday it will begin testing the balloons in Indonesia.

Alphabet is signing a preliminary agreement, known as a memorandum of understanding, with three Indonesian telecommunications companies -- Indosat, Telkomsel and XL Axiata -- to bring the balloons to the country over the next year.

"While the physical distance between here and Indonesia is great, increasingly the emotional distance around the world is shrinking," Sergey Brin, Google co-founder and Alphabet president, said at a press event here.

That's because our world is connected, but we need to do more, he said. Brin stood next to a large inflated balloon on display in the courtyard of Google X offices, the secretive lab where the project was developed. The prop balloon, though, was only half the size of the actual ones that will take flight.

"While the physical distance between here and Indonesia is great, increasingly the emotional distance around the world is shrinking," said Google co-founder and Alphabet president, Sergey Brin (right).

Four billion people still don't have access to the Web, according to Alphabet. Changing that could have staggering implications for emerging countries. The Internet could give rural villages video access to remote doctors and classrooms, for example. It could even help break the cycle of poverty, according to the Bill and Melinda Gates Foundation, by allowing the rural poor to send and receive money right from their phones.

Facebook has a similar goal, but wants to use drones instead of balloons. Space X CEO Elon Muskplans to launch clusters of cheap, low-flying satellites to beam the Internet around the world. Sir Richard Branson wants to build the world's largest satellite constellation to provide high-speed Internet to the billions who still don't have it.

By using balloons, Alphabet can skirt the need to build a network of cell towers. Instead, "the cell towers we're building are 60,000 feet up in the sky," said Mike Cassidy, vice president of Project Loon.

Of course, spreading the Internet to remote locations is also good for Alphabet's business. The more people connected to the Internet, the more people are likely to use the company's services, including Gmail, search and its YouTube video site.

The solar- and battery-powered balloons will fly in the stratosphere, 8 to 30 miles above the ground. The team handling the project began tests two years ago in New Zealand and has since expanded into Brazil and California's Central Valley. The team has also done preliminary testing in Sri Lanka.

Now Indonesia joins that small group.

Developing flying cell towers hasn't always gone smoothly. Astro Teller, the head of Google X, said in March he's had to send teams by boat and helicopter to the Arctic Circle and South Pacific to collect balloons that drifted where they shouldn't have.

Alphabet said it hasn't set a date for a full commercial launch. The Indonesian pilot will show how much work still needs to be done.

"This testing is going to be very revealing to us about how close we are to commercial launch," said Cassidy.

Alphabet's Wi-Fi beaming balloons prepare to lift off in Indonesia - CNET