Indonesia Economy Forum

[Nike]

President wants immediate realization of energy sovereignty: Minister Tahar
Sabtu, 30 Juli 2016 16:11 WIB | 593 Views

The Indonesian Minister of Energy and Mineral Resources Archandra Tahar. (ANTARA/Widodo S. Jusuf)
Jakarta (ANTARA News) - The Indonesian Minister of Energy and Mineral Resources Archandra Tahar said he has been ordered by President Joko Widodo (Jokowi) to create energy sovereignty in a relatively short time.

"Energy sovereignty is related to how to meet the energy needs at a time of an energy crisis," the minister said, during an introductory meeting with journalist on Friday (July 29, 2016).

He noted that that the government will increase its supplies in the coming years in order to achieve energy sovereignty based on the Nawacita or nine national development priority program.

The minister added that he had competent officials who will assist him to achieve Indonesian energy sovereignty.

The policy he will act on will be based on three principles:

First, all natural resources must be exploited for the greatest interest and prosperity of the people.

Second, energy sovereignty will be created through increasing supplies.

Third, assuring legal certainties for investors so that the peoples prosperity could be created.

"The policy in the energy sector has three pillars," he said.

Also, the minister confirmed that he will proceed with the 35 thousand megawatt electricity project.

"We will seek solutions to constraints hampering the 35 thousand megawatt power development," Chandra, as Archandra Tahar is popularly called, added.

Regarding the Masela Block, Chandra said although he had the offshore oil background, he would follow the presidents policy plan to build an oil refinery plant onshore.

Next week, the newly installed minister said he would start holding meetings with stakeholders in the energy sector.

"I will ask them one by one about what assistance they need. If the energy and mineral resources ministry is not able to overcome the problems, I will discuss it with the president to seek solution so that the program will run well," he said.

During the transfer of the energy and mineral resources ministerial post from Sudirman Said on Friday, Candra said the transformation of the energy and mineral resources sector will be based on three main pillars.

First, an efficient, transparent and measured business process.

Second, competent and responsible human resources supported with knowledge, skill and experience.

Third, utilization of appropriate and correctly targeted technology, so that human resources and business processes could be effective and efficient.

Further, he said Law No. 22/2001 on Oil and Gas needs to be revised because the challenges today are different from in the past.

"Regulations which are not based on the united strategy to build energy sovereignty should be abolished," he said.

The oil and gas laws sought to overcome challenges during the huge oil field era, creating simple geological conditions and supported with adequate infrastructure, should now become things of the past, he said.

"Now is the era of marginal fields, offshore, deep water, tight and shale oil/gas and enhanced oil recovery (EOR) in isolated locations which lack infrastructure," he said.
(Uu.A014/INE/KR-BSR/F001)

 

[patu]

To think is anyone's duty but to decide and acting consistensi is The Leader part. We do hope that this new leader could implement his thought and be supported by his stafs.

 

[MarveL]

Indonesia to help transform Ghana’s economy
JULY 31, 2016 54 0



An Indonesian business delegation has held a business forum with some Ghanaian companies in Accra to help transform the national economy.

The delegation introduced some products and companies to Ghana to enhance bilateral relations.

The event brought together celebrated business operators, captains of industries, potential investors and business partners to deliberate on key trade and business issues, to forge strategic trade and business partnerships.

Mr Nino Wawan Setiawan, the Director of Indonesian Trade promotion Centre, Lagos-Nigeria said Indonesia has a lot of product it would like to share with the Ghana.

He said Ghana has the right infrastructures that allows for smooth operations and to tighten relations.

Mr Harry Purwanto, the Indonesian Ambassador, congratulated the organizers for the forum and to further deepen trade relations between Ghana and Indonesia.

He said the timing for the initiative was good because Ghana and Indonesia as developing countries have some commonalities, which if harnessed would boost both economies.

Mr Purwanto said Ghana has a comparative advantage because it has a serene security atmosphere and a political stability as a West African State, which would allow for more job creation.

Dr Ekwow Spio-Garbrah, the Minister of Trade and Industry in a speech read on his behalf congratulated the Indonesian counter-parts for seeing potentials in the Ghanaian economy.

Dr Spio-Garbrah said the whole initiative was viewed as a shared partnership between Ghana and Indonesia to further promote and improve the development agenda.

He said Ghana is committed to provide the enabling environment to attract the requisite business partnerships and synergies towards the attainment of higher middle-income country status for both countries.

The Minister said Ghana’s vision is to become the leading agro-processing country in Africa, thus, special policies have been put in place to transform the agriculture sector to sustainably utilise all resources and commercialisation of activities in the sector to drive growth.

He said it is therefore imperative that Ghana partners with investors from around the world especially Indonesia in areas like agro-business for mutual gains.

He was of the view that the strategic business partnerships and investments with businesses in Indonesia would bring measurable benefits to both countries.

Mr Harry Mensah, Ghana National Chamber of Commerce expressed appreciation to the delegation and affirmed the support in ensuring mutual trade.

He also urged participating companies to engage partners from Indonesia to improve their trade operations for development.

Some companies included in the delegation are Pajajaran Prima Boga, Phapros RNI Group, Pim Pharmaceuticals, Promosia Trade and Resources and Sanfood.

https://www.ghanabusinessnews.com/2016/07/31/indonesia-to-help-transform-ghanas-economy/

 

[skyhigh88]

CRUNCH NETWORK
Indonesia will be Asia’s next biggest e-commerce market
Posted Jul 29, 2016 by Hugh Harsono

Indonesia presents much opportunity for e-commerce among other emerging Asian economies, with current projections putting this archipelago nation’s e-market at $130 billion by 2020 (coming third behind China and India). With an estimated annual growth rate of 50 percent and strong mobile-first initiatives, retailers have a unique opportunity in Indonesia to focus on developing truly mobile platforms to help facilitate e-market growth, particularly in the consumer packaged goods (CPGs) sector.

Indonesia’s current e-commerce market is similar to China’s online marketplace beginnings, with a large pool of entrepreneurial sellers providing goods purchased based largely on social media recommendations. Similarly, e-commerce in Indonesia also mimics the early U.S. e-market, which was flooded with customers wary to trust online payments and retailers. Indonesia is truly unique in that it has the potential to create a hybrid of the widest opportunities from America and China’s e-commerce economies, propelling the Indonesian online marketplace onto the global stage.

Mobile-first Indonesia

Indonesia has established itself as one of Asia’s foremost mobile-first nations, with a StatCounter report estimating that in 2015, more than 70 percent of Indonesia’s internet traffic originated from mobile devices.

Further evidence that Indonesians have embraced mobile-first initiatives comes from social media, with Indonesians having the highest mobile Facebook usage rate worldwide, with 63 million users in 2015. Further projections put Indonesians’ future Facebook access via mobile being almost 99 percent by 2018, showing a true dominance over desktop platforms. The mobile-first path that Indonesia has taken also allows retailers to focus on creating truly mobile functionality, presenting unique opportunities to dominate in the retail space.

Indonesian e-commerce startups and funding

Indonesia’s e-commerce market is on track to be one of the largest in Asia.

E-commerce startups founded in Indonesia or targeting it as an untapped market are growing exponentially, something reflected in increased interest in startup fundraising within the archipelago nation.

aCommerce, an end-to-end e-commerce service provider, closed a Series A venture capital round of $10.7 million, while raising another $10 million in funding ahead of a planned Series B raise later in 2016; this action is being led by MDI Ventures, a VC-initiative launched by Indonesian telecom giant Telkom Indonesia.

Jakarta-based grocery delivery app HappyFresh raised an impressive $12 million Series A round in 2015, with investors led by Vertex Ventures and Sinar Mas Digital Ventures. HijUp, another Indonesian e-commerce startup, closed a second seven-figure seed funding round from investors, including Fenox Venture Capital and 500 Startups.

However, the behemoth of all Indonesian deals so far comes in the form of Tokopedia, an online marketplace that raised an impressive $100 million round led by Softbank and Sequoia Capital. Mid- and later-stage investors should definitely keep an eye on Indonesian startups, which are clearly having very little trouble finding early-stage interest and investment.

Why specifically Indonesia?

Prospering with multiple entrants

Indonesia’s retail market currently consists of CPGs being sold in retail spaces known as “fragmented trade,” which is primarily made up of independent small business owners. E-commerce is currently growing at a rate twice as fast as fragmented trade, forcing many of these independents to turn to the e-commerce model. This in turn creates a sea of individual sellers eager to satisfy e-consumer demand, alongside mass retailers targeting this same demographic.

Unlike other Asian nations, Indonesians currently do not solely rely on mass retailers to guide their purchasing decisions, allowing for these individual sellers to maintain market share. This in turn allows the e-market segment to be open to any competitor determined enough to form a market impact, something uncommon in other mobile-first nations.

Procuring specialized goods to rural areas

Many Indonesian cities are currently woefully underdeveloped, because of a lack of strong government and infrastructure to support retail construction. However, e-commerce’s rise in popularity exploits this challenge by allowing consumers to purchase CPGs previously unavailable in their specific locales.

With lots of potential growth in rural and semi-rural areas, e-commerce specifically allows Indonesian consumers to source hard-to-find goods, as opposed to other nations, where rural areas would not have as high use of internet-capable mobile devices. In fact, popular Indonesian online site BliBli has more than one-third of its 2.5 million customers living in rural areas, providing goods ordered almost exclusively off mobile platforms to a population whose sole form of internet access comes via smartphone. This procurement of specialized CPGs to rural areas makes Indonesia a uniquely perfect place for online marketplace growth.

Providing truly mobile-first platforms

Indonesia’s e-market also allows for retailers and participants in the fragmented trade space to focus on developing truly mobile-first platforms. This specifically targets the mobile user as the captured demographic, instead of simply re-tooling a desktop platform to a mobile one.

This truly mobile-first scenario also allows sellers to use smartphones to their advantage, gathering hyper-personalized data to target individual Indonesian consumers as opposed to just specific demographics or groups among Indonesia’s more than 250 million population.

Mobile-first also allows for the easier entry of participants into the Indonesian e-commerce scene, with startups having the flexibility to choose what CPGs they sell, and even who they want as a consumer, through market penetration via mobile apps.

Profitability through social media

With other mobile-first nations being split between different social media sites (China: Weibo/QZone/Tencent QQ; India: Facebook/Google+/Twitter; Philippines: Instagram/Snapchat/Facebook), Indonesia is unique because of its widespread use of a singular social media platform: Facebook (with more than 92 percent of Indonesians having a Facebook account).

With so much of Indonesians’ current purchasing power being shaped through social media recommendations, focusing on developing integration with Facebook’s platforms offers companies a unique space to potentially profit through direct CPG sales, advertising or even partnerships. Tying Facebook into popular sites such as online forums like Kaskus and Tokobagus, or even online stores like Sukamart, could lead to the inclusion of high-quality videos, product comparisons and optimized images, alongside other mobile-first features, to encourage e-market growth.

Potential with online payments

Indonesian consumers are very wary of online payments, much like Americans were in the U.S.’ early online marketplace days, particularly when compared to other mobile-first populations. Many e-commerce transactions are currently paid through either direct bank transfer or bayar di tampat (cash-on-delivery), which is greatly limiting e-commerce growth through lost transactions.

With Indonesian spend growing nearly 10 percent annually; bayar di tampat will soon be unsustainable. Creating a trusted solution to utilize online payments could lead to huge growth, with retailers both large and small being able to streamline their business flows for optimum efficiency.

Procuring a modernized logistics/delivery platform

Indonesia currently also presents a unique opportunity for e-commerce growth because of the country’s weak infrastructure and poor logistics system. This provides a huge growth area for the e-market, with sellers able to vertically integrate their delivery systems with their ordering ones.

In the age of companies developing in-house solutions instead of relying on outsourcing, the untapped logistics market also gives rise to the growth in Indonesian e-commerce. Companies have the ability to develop proprietary, or even simply more efficient, delivery systems as another form of competition in the online marketplace, with supply strength being a key component in e-commerce.

Conclusion

Often underestimated as a driving economic force among its more well-known Asian brethren, Indonesia presents a variety of unique opportunities in becoming one of the largest e-commerce spaces.

With so many mobile internet users, combined with weak internal infrastructure, companies and individual sellers alike have the potential to grow the e-commerce market to heights unseen. Additionally, a growing middle class with disposable income will only help spread e-commerce growth, alongside a rising influx of both individual sellers and corporations vying to compete in the e-market.

Indonesia’s e-commerce market is on track to be one of the largest in Asia, utilizing mobile-first platforms to provide all Indonesians with convenient access to consumer packaged goods.

 

[UMNOPutra]

Congrate to Indonesia as host of 12th WIEF .. I hope Indonesia can learn from Malaysia and UAE as Global Centre for islamic finance ...

 

[pr1v4t33r]

Indonesia to Start Natural Gas Output from Two Deepwater Fields
Indonesia expects to start natural gas production from two deepwater fields this year and next, even as major oil companies are reviewing the economics for other projects, a senior energy official said late on Thursday (28/07).

The Bangka project, majority owned by Chevron, will start operation in August, Wiratmaja Puja, the director general of oil and gas at Indonesia's Energy Ministry, told Reuters in an interview.

Italian oil firm Eni's Jangkrik project is 80 percent complete and is expected to commence operation in July 2017, he said.

Both projects are located in the Kutai Basin offshore East Kalimantan province where several projects are being planned under the name of the Indonesia Deepwater Development (IDD).

Two other IDD projects - Chevron's Gendalo-Gehem and Eni's Merakes - have been put on hold after oil and gas prices fell, Puja said.

The Indonesian government is in talks with the companies on providing more incentives to raise the internal rate of return for the deep-water projects to at least 25 percent, up from 10 to 15 percent currently, Puja said.

The companies have proposed incentives that include extending the length of the production sharing contracts for the deepwater projects beyond the initial 30 years because of their complexity and a longer exemption period for being obligated to sell to the domestic market.

"We're still discussing it. It's not decided yet," Puja said.

Chevron has a 62 percent interest in the Bangka project, according to its website. The project has a design capacity of 115 million cubic feet of natural gas and 4,000 barrels per day (bpd) of condensate, a light oil typically produced in association with gas.

The Jangkrik project, which Eni holds a 55 percent stake, is expected to produce 450 million cubic feet of natural gas and 4,400 bpd of condensate, according to the project contractor Saipem's website.

Separately, Indonesia has offered 17 oil and gas blocks in an auction this year, including the deepwater Surumana block, Puja said.

http://jakartaglobe.beritasatu.com/business/indonesia-start-natural-gas-output-two-deepwater-fields/

 

[patu]

What about natuna?Have you any new info?

 

[pr1v4t33r]

Govt, Business Pins Tax Amnesty Hopes to Sri Mulyani
The appointment of Sri Mulyani Indrawati as the country's new finance minister is hoped to lend much needed credibility to the government's stalling tax amnesty program.

The amnesty — aiming at repatriating Rp 1,000 trillion ($76.2 billion) in funds, adding Rp 165 trillion in tax revenue to government coffers — is off to a slow start, with potential users looking for assurance the economy will be stable, fearing the risk of losing money would be greater in Indonesia than elsewhere.

"As we are currently implementing the tax amnesty, we need somebody with credibility and confidence to run this program. She is the right person for it," said David Sumual, chief economist at Bank Central Asia, one of 20 banks managing the repatriated funds.

Sri Mulyani was a pivotal force in reforming the tax office during her first five-year stint in the position before leaving to become chief managing officer at the World Bank in 2010.

Sri Mulyani has been out of favor with some politicians in the current ruling coalition due to her role in the Rp 6.7 trillion bail out for Bank Mutiara at the heigh of the global financial crisis in 2008. The bank was later sold for far below the cost of the bail out.

But, for business leaders on whom the success of the tax amnesty depends the bail out reflected her resolve in taking action when needed — even if controversial or difficult — to maintain economic stability.

As some observers have pointed out, President Joko "Jokowi" Widodo's infrastructure ambition risks the country's budget by exceeding the deficit limit and dragging growth. Sri Mulyani is expected to return discipline to fiscal management.

"Sri Mulyani joining the cabinet has been expected since the start of the Jokowi-JK [Vice President Jusuf Kalla] administration," Hariyadi Sukamdani, chairman of the Indonesian Employers Association (Apindo), told the Jakarta Globe.

"Apindo is among those who [suggested her for Finance Minister] at the time. Unfortunately, she refused at the time."

She stills commands respect among ministry officials, who received a significant salary boost following her bureaucratic reform during her first tenure.

It's likely she'll be welcomed back to the ministry to get started on establishing services across its offices to facilitate tax amnesty program.

"There are still complains about tax offices services regarding tax amnesty," Jokowi said on Wednesday.

Jokowi noted some people come to tax office only to find officers unavailable or cannot explain tax amnesty program in detail.

"So now I warn the tax chief and the minister: tax amnesty must success," Jokowi said.

http://jakartaglobe.beritasatu.com/business/govt-business-pins-tax-amnesty-hopes-sri-mulyani/

 

[pr1v4t33r]

Round Two Against Tax Dodgers for Indonesia's New Finance Chief
Six years after bowing out of a bruising battle to make Indonesian tycoons pay taxes, new Finance Minister Sri Mulyani Indrawati is back to finish what she started - this time with the full backing of reformist President Joko Widodo.

Under former President Susilo Bambang Yudhoyono, Sri Mulyani steered the Indonesian economy through the global financial crisis and gained the respect of financial markets with a drive to stamp out corruption.

But Sri Mulyani, who was ranked number 37 on the Forbes list of the world's 100 most powerful women this year, made a formidable political opponent in tycoon-politician Aburizal Bakrie, the then-chairman of Indonesia's second-biggest political party Golkar.

Bakrie's coal firm was on a list of 100 top tax dodgers that Indrawati's tax office published in early 2010, to put pressure on the business elite to pay up.

Even before then, there was bad blood between them.

"She doesn't understand a thing about the real sector," Bakrie told Reuters in an interview in 2009. "...as a cashier she is good."

Four months after naming and shaming the tax dodgers on the list, she was gone. Indrawati, who has a doctorate in economics from the University of Illinois, resigned under a barrage of criticism for allegedly causing state losses during a bank bailout. She denied any wrongdoing.

She then joined the World Bank, where she was managing director and chief operating officer, the number two post after the president.

Fast forward six years and a lot has changed. Widodo was elected to office in 2014 by voters keen to sweep out the old guard. He offered Indrawati a ministerial post when he took power, a high-ranking government official told Reuters.

She declined at the time, because Golkar was in opposition and Bakrie was still in charge of the party, the official said, declining to be named due to the sensitivity of the matter. As an opposition party it would not have shied away from criticising a government minister.

Two years later, Bakrie is no longer Golkar chairman - he was made head of its advisory board after a bitter internal dispute - and the party has joined Widodo's coalition. This helped convince Sri Mulyani to take the job, the official said.

When asked why she accepted Widodo's offer, Sri Mulyani told reporters after her inauguration on Wednesday it was "a noble task", but declined to comment further.

Sri Mulyani is the right choice as she had "good economic skills", Bakrie told Reuters on the sidelines of a Golkar meeting on Thursday, and denied there was any conflict between them.

"Straightforward and a little tough"

Widodo personally asked World Bank President Jim Yong Kim for permission to bring Sri Mulyani home as finance minister, Cabinet Secretary Pramono Anung told reporters on Wednesday.

"I know that President Widodo's highest priority is the ongoing reform program, and Sri Mulyani's return will increase confidence in Indonesia's performance and will be highly important for promoting transparency," Kim said in a letter to the World Bank staff.

Sri Mulyani commands respect from the rank and file in the finance ministry and was received with loud applause from 700 tax officers on Thursday when she entered a state palace hall in Jakarta for a briefing by the president.

"She is straightforward and a little tough", but she looks after her staff well and nurtures team spirit, former finance minister Chatib Basri, who was once an adviser to Indrawati, told Reuters.

Widodo needs Sri Mulyani more than ever now, as he has staked political capital on a tax amnesty scheme launched this month aimed at bringing back billions of dollars stashed overseas to rejuvenate Indonesia's sluggish economy.

Indrawati has already told the tax office to work hard to prepare for the first three months of the amnesty, when most cash is likely to be repatriated.

"Not only the tax amnesty, but the state budget itself must be credible," she said on Thursday. "The most important thing is that I want to build certainty. Certainty for the internal finance ministry and the tax office, certainty for businessmen and the economy, certainty about where the government's policy is headed because it is important to get the economy working."

Growth in Southeast Asia's biggest economy is expected to improve only slightly to 5.2 percent this year from 4.79 percent in 2015, the slowest growth rate in six years.

Nevertheless, Sri Mulyani's decision to join what analysts say is an economic 'dream team' has been cheered by investors and is seen as a coup for Widodo.

"Sri Mulyani is a tough, clear-headed, reform-minded economist who knows her way around the complex world of Indonesian politics, and understands how Indonesia engages with the rest of the world," said Hal Hill, professor of economics at Australian National University.

"I think everybody has moved on from the painful events of 2008-2010."

http://jakartaglobe.beritasatu.com/...ainst-tax-dodgers-for-indonesias-sri-mulyani/

 

[Boss Dragun]

Indonesia, Tajikistan discuss expansion of economic cooperation

http://www.antaranews.com/en/news/1...tan-discuss-expansion-of-economic-cooperation

Jakarta (ANTARA News) - President Joko Widodo (Jokowi) held a bilateral meeting with Tajikistans President Emomali Rahmon, discussing expansion of trade cooperation.

Trade between the two countries in the first five months of 2016 was valued at US$37,200. In the whole of 2015, the trade value was US$69,800, the Indonesian foreign affairs ministry said in a statement here, Monday.

Indonesia exported soap, lubricant oil, electronic goods, etc, to Tajikistan and imports from that country cotton, hard rubber and derivatives.

President Jokowi said the business cooperation between the two countries needs to expansion for mutual benefit.

For that purpose the government invited Tajikistan business leaders to take part in an Indonesian Trade Expo to be held in October, 2016, the foreign ministry said.

President Emomali is visiting Indonesia at the head of a 10-men delegation including Tajikistan foreign minister, trade minister, industry and new technology minister , head of the national committee for investment and head of the Tajikistan National Bank.

President Emomali is visiting the country to attend the World Islamic Economic Forum (WIEF) to be opened here on Tuesday.

The Tajikistan president visited Indonesia earlier to attend the commemoration of the Asia Africa Conference in Bandung in April, 2015.

Indonesia and Tajikistan opened diplomatic relations in 1994.

The Indonesian government said it would follow up a cooperation agreement on textile sector with Tajikistan.

Follow up step would be taken in economic cooperation in textile sector including cotton processing industry, Jokowi said.

The two leaders also discuss various other issues including security, political affairs and diplomatic cooperation.

Jokowi said Indonesia and Tajikistan agreed to strengthen cooperation in the fight against terrorism.

"We also exchange views on global strategic issues for mutual benefit. Indonesia welcomes the signing of four cooperation documents including about visa free travel, the fight against terrorism, exchange of intelligence and finance related to money laundering and terrorism financing and diplomatic education and training," Jokowi said.

Emomali said Indonesia has potential economic capacity, which is significant especially in southeast Asia.

Tajikistan has invited Indonesia business leaders to tale part in investment projects including regional programs in Tajikistan.

He said the two countries agreed to support each other and strengthen cooperation in international organization forums on global and regional issues.

"The two countries share the same view on how to cope with terrorism and Islamophobia," he said.



Govt allocates Rp175 billion for fishermen`s insurance program: Minister Susi

http://www.antaranews.com/en/news/1...or-fishermens-insurance-program-minister-susi

Jakarta (ANTARA News) - The Maritime Affairs and Fisheries Ministry (KKP) has allocated Rp175 billion for an insurance program for fishermen across the country.

"We have readied Rp175 billion for providing insurance facilities to some one million fishermen this year," KKP Minister Susi Pudjiastuti stated at a press conference here on Monday.

Minister Susi expressed hope that the fishermen will register with the insurance program in future.

Based on data at the Central Bureau of Statistics, there are 2.7 million fishermen across the country.

Susi noted that her ministry will evaluate the application documents on Monday evening (Aug 1) and on Tuesday (Aug 2) and will announce the names of selected fishermen.

The compensation scheme for a fisherman, who dies in a fishing accident, is set at Rp200 million, Rp100 million for fishermen who suffered from permanent disabilities, and Rp20 million for medical treatment.

Fishermen killed in an accident unrelated to fishing activities can receive a compensation of Rp160 million, while those who ailed from permanent disabilities can avail Rp100 million, and Rp20 million for medical treatment.

The minister said the insurance facilities are provided to fishermen and not to ship crew members as they are insured through the Social Security Management Agency and other insurance schemes provided by the ship owners.

Minister Susi also hoped the media will take part in spreading awareness on the program, particularly with regard to the crew members of fishing ships who are not offered insurance facilities by the KKP.

Earlier, the Peoples Coalition for Fishery Justice (Kiara) had reminded the Indonesian government of the need to take a cue from Malaysia in implementing a policy for improving the welfare of fishermen.

"Licensed fishermen in Malaysia get a monthly allowance of 300 ringgits from the state," Kiara Secretary General Abdul Halim stated in November last year.

The fishermen also receive subsidized fuel allowance, regardless of whether they go fishing. This is apart from the living cost provided by the government.

The fishermen in Malaysia are also offered healthcare services free of charge at government hospitals. If the fishermen are killed in an accident, they will receive funds worth some two thousand ringgits that come under the management of the Malaysian fishery agency.


RI, Australia to conclude trade agreement

http://www.antaranews.com/en/news/106027/ri-australia-to-conclude-trade-agreement

Jakarta (ANTARA News) - Australian Trade, Tourism and Investment Minister Steven Ciobo is visiting Indonesia this week to conclude a free trade agreement with Indonesia, the Australian Embassy here said on its website on Monday.

"This week I am visiting Jakarta to build further momentum for concluding a free trade agreement with Indonesia," he said as quoted by the embassy on its official website.

He said that while Indonesia is Australias largest neighbour, a fellow G20 member and important regional partner, the Australian trade and economic relationship can and should be much stronger.

The Turnbull Government is seeking to build this relationship though the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). Negotiations, relaunched earlier this year, are making good progress.

IA-CEPA will create the framework for a new era of closer economic engagement between our countries and open new markets and opportunities for Australian businesses, primary producers and service providers

Indonesia has a population of more than 255 million, including a middle class of more than 45 million forecast to grow to 135 million by 2020, an opportunity to supply the growing needs of Indonesian consumers with Australian goods and services.

Increasing Australian exports, through trade with countries such as Indonesia, will create Australian jobs and drive economic growth.

"In Jakarta I will meet with Indonesias new Trade Minister Enggartiasto Lukita, new Chairman of the Indonesian Investment Coordinating Board (BKPM) Thomas Lembong and Minister of Industry Airlangga Hartarto," he said.

"During the visit, Minister Lukita and I will receive an updated report on trade priorities from the Indonesia-Australia Business Partnership Group," Minister Steven Ciobo said.

From Jakarta, he will travel to Vientiane, Laos for consultations with ASEAN trade ministers, the East Asia Summit Economic Ministers Meeting and the Regional Comprehensive Economic Partnership Ministerial Meeting



Number of tourists visiting Bali increased by 18.59 percent

http://www.antaranews.com/en/news/106034/number-of-tourists-visiting-bali-increased-by-1859-percent

Denpasar, Bali (ANTARA News) - Bali welcomed 2.27 million foreign tourists during the first semester of 2016, 18.59 percent more than the previous years figure of 1.91 million tourists.

"A total of 2.23 tourists came by air directly through the Ngurah Rai Airport while the remaining 38,644 people come via the sea port," said the head of the Central Statistics Agency (BPS) of Bali, Adi Nugroho, in Denpasar on Monday.

The Bali Provincial Tourism Office has set a target of attracting as many as 4.2 million foreign tourists to the Dewata Island this year. In 2015, Bali received 4.001 million people, 6.24 percent more than previous year when 3.76 million people had arrived. The numbers are slightly above the target set at 4 million tourists.

Adi Nugroho said the month of June 2016 witnessed 405,835 people visiting Bali, 12.83 percent more than those who visited in the same month in 2015, and 2.86 percent more than the number of visitors coming in May this year.

Of the ten countries from where tourists mainly come to Bali, seven have seen a major increase in the numbers. The number of tourists arriving from the other three has decreased.

The seven countries from where significantly larger number of tourists arrived included Australia, that registered an increase of 10.43 percent, as 486,087 people arrived between January and June 2015 compared to 536,767 people arriving in the same period in 2016.

China came second as tourist numbers rose by 35.85 per cent, from 341,559 to 464,002. Similarly, 4.97 percent more Japanese tourists arrived with numbers going up from 104,246 to 109,424.

Great Britain contributed the fourth largest chunk of foreign tourists. The number of tourists from that country increased by 42.45 percent, up from 68,977 people arriving from January to June 2015 as 98,311 arrived in the same period in 2016.

While 59,509 tourists came from India in the same period in 2015, the number rose by 55.83 percent since 92,731 tourists came from the South Asian country this year in that period in 2016. The number of tourists from the United States grew by 32.50 percent, from 63,097 to 83,606 people, just as French tourists number increased by 26.79 percent from 53,128 to 67,362.

Adi Nugroho added that three other countries from where lesser number of tourists arrived were Malaysia, South Korea and Singapore. Malaysia contributed 9.08 percent less tourists. Compared to 98,658 tourists who came from Malaysia from January to June 2015, only 89,699 people arrived in the same period in 2016.

South Koreans number dropped 6.50 percent from 75,902 tourists to 70,971 while number of tourists from Singapore slipped 8.41 percent from 75,580 people to 69,224, said Adi Nugroho.

 

[UMNOPutra]

The main problem ... Although BNM (Central Bank of Malaysia) have made relaxation in our regulation ... But, there is still no bank from Indonesia (in term of paid up capital and rating) can qualify to open their branch in Malaysia ... So, this mean that our bank regulation is more prudent than Indonesia ..

BNM, Otoritas Jasa Keuangan ink regulatory cooperation deal

KUALA LUMPUR: Bank Negara Malaysia (BNM) on Monday signed a bilateral agreement with Otoritas Jasa Keuangan under the Asean Banking Integration Framework (ABIF).

The agreement was signed by Bank Negara Malaysia governor Datuk Muhammad Ibrahim and Otoritas Jasa Keuangan Board of Commissioners Chairman Dr Muliaman D. Hadad, in conjunction with the 11th Meeting of the Annual Consultation between Prime Minister Datuk Seri Najib Tun Razak and Indonesia President Joko Widodo.

BNM said in a statement here the agreement, which seeks to operationalise the earlier heads of agreement in 2014, would provide greater access and operational flexibility for Malaysian and Indonesian Qualified Asean Banks operating in the respective jurisdictions.

 

[patu]

BNM, Otoritas Jasa Keuangan ink regulatory cooperation deal

KUALA LUMPUR: Bank Negara Malaysia (BNM) on Monday signed a bilateral agreement with Otoritas Jasa Keuangan under the Asean Banking Integration Framework (ABIF).

The agreement was signed by Bank Negara Malaysia governor Datuk Muhammad Ibrahim and Otoritas Jasa Keuangan Board of Commissioners Chairman Dr Muliaman D. Hadad, in conjunction with the 11th Meeting of the Annual Consultation between Prime Minister Datuk Seri Najib Tun Razak and Indonesia President Joko Widodo.

BNM said in a statement here the agreement, which seeks to operationalise the earlier heads of agreement in 2014, would provide greater access and operational flexibility for Malaysian and Indonesian Qualified Asean Banks operating in the respective jurisdictions.

Good news for these two countries.

 

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Indonesia Will Propose Corporate Tax Cut After Tax Amnesty Program
Indonesia president Joko Widodo said the government will propose a cut in the corporate tax rate to improve competitiveness once a tax amnesty program expires.

"We are in a competitive era, if we are not brave, investors will leave," Widodo told reporters on Monday (01/08). The amnesty is due to expire at the end of March next year.

Widodo said the government was still calculating what the appropriate tax rate should be. The finance ministry has previously said tax may be lowered to 20 percent from 25 percent currently.

http://jakartaglobe.beritasatu.com/...ropose-corporate-tax-cut-tax-amnesty-program/


Kampanye Tax Amnesti di JIExpo Kemayoran

 

[CountStrike]

Malaysia, Indonesia aim to double trade value

• The Jakarta Post

Jakarta | Tue, August 2 2016 | 08:56 am

President Joko “Jokowi Widodo and Malaysian Prime Minister Najib Razak hold a joint press conference after meeting at the State Palace in Jakarta on Monday. (Antara/Puspa Perwitasari)
Topics

• Malaysia Tradebilateral-ties

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

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

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

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

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

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

Najib said the country wanted to increase investment in Indonesia, including in road and property projects. (dmr)
http://www.thejakartapost.com/news/2016/08/02/malaysia-indonesia-aim-to-double-trade-value.html

 

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