Indonesia Economy Forum

[kaka404]

Komatsu to develop construction machinery in Indonesia
TOKYO -- Komatsu will open a site in Indonesia for developing construction equipment as early as the fall, the first time it has moved such functions outside Japan.

The development center, to be set up at Komatsu Indonesia in Jakarta, will handle hydraulic shovels and other machinery suited to the climate and fuel quality of Southeast Asia, where equipment is often operated in demanding environments such as the jungle.



Development personnel will be dispatched from Komatsu's Osaka plant to get the new site up and running quickly. Equipment manufactured in Indonesia is currently developed at the Osaka plant.

(Nikkei)
http://asia.nikkei.com/Business/Companies/Komatsu-to-develop-construction-machinery-in-Indonesia

 

[CountStrike]

FAA Officially Allows Indonesian Airlines to Enter US Airspace


Jakarta. Indonesian airlines finally received official permission from the United States Federal Aviation Administration, or FAA, to enter US airspace after having waited for nearly a decade.

The FAA announced without much fanfare on Monday (15/08) that Indonesia now complies with International Civil Aviation Organization (ICAO) safety standards and that it therefore qualifies for an upgrade to an International Aviation Safety Assessment (IASA) Category 1 rating.

"The Category 1 status announced today is based on a March 2016 FAA assessment of the safety oversight provided by Indonesia’s Directorate General of Civil Aviation," the statement said.

Hemi Pramuraharjo, communication and information bureau head at the Ministry of Transportation, confirmed the news to the Jakarta Globe.

Indonesia was downgraded to a Category 2 rating in 2007 following findings on inadequate operational control systems and serious safety concerns. A Category 2 rating means a country lacks laws or regulations on aviation safety standards equivalent to those of the FAA.

 

[kaka404]

Bank Rakyat Indonesia deploys digital branches to lure millennials
ERWIDA MAULIA, Nikkei staff writer

Bank Rakyat Indonesia officers show visitors how to use a self-service station at the bank's first 'fully digital' branch.

JAKARTA -- Following the launch of its own satellite in mid-June, state lender Bank Rakyat Indonesia on Monday opened its first "fully digital" branch and is planning to open more this year -- in what a bank executive says is an attempt to appeal to young and tech-savvy Indonesians.

BRI, Indonesia's second-largest lender by assets, has traditionally been known for its focus on microfinancing -- with small and midsize businesses in Indonesia's rural areas being its main target market.


BRI, however, seems to want to enhance that image with the launch of BRI Digital at Soekarno-Hatta Airport's Terminal 3 Ultimate, Indonesia's largest airport terminal on the outskirts of Jakarta that only recently commenced partial operations.

The branch offers the "most comprehensive digital-banking services ... the first of its kind in Indonesia," said BRI President Asmawi Syam. "This is to welcome the future, to serve BRI customers who are of the millennial generation."

"This has been enabled with the launch of the satellite," he went on, referring to the BRIsat, which was launched from the northern coast of French Guiana in South America -- making BRI the world's first bank with its own satellite.

BRI has repeatedly said that the satellite is aimed at supporting its digital services -- including in rural and remote regions of Indonesia that have for decades been BRI's forte, as compared with other Indonesian banks focusing on big towns and cities.

BRI Digital outlets, however, are obviously aimed at middle-to-upper-class Indonesians -- with BRI planning to open nine more by the end of the year in Indonesian provincial capitals, including Jakarta, Surabaya, Bandung and Medan.

"We will probably open more of these digital branches at shopping malls -- so while people shop, they can do some banking transactions," Syam said.

The BRI Digital outlet at Soekarno-Hatta Airport is equipped with self-service facilities utilizing "state-of-the-art technologies" -- such as several "smart tables" allowing visitors to access information on the bank's various services, as well as "hybrid machines" allowing new customers to open an account at the bank and "video banking tools" that let customers speak with customer service officers.

"Because later, we won't assign any officers here," Syam said.

BRI added it will not abandon its microbusiness segment with the development of BRI Digital, saying it is designed to also support the e-commerce activities of the bank's micro- and small-business clients -- by giving visitors access to information about these companies' products.

BRI on Monday announced 12.2 trillion rupiah in net profit in the first half -- a 1.9% increase from the same period last year. The bank's shares closed up 0.42%, outperforming the benchmark Jakarta Composite Index, which slumped 1.03%.
http://asia.nikkei.com/Business/AC/BRI-satellite-paves-way-to-fullydigital-branches
basically BRI is having "fun" with their satellite

BNN to Post Assign Personnel in China

TEMPO.CO, Jakarta - In a bid to boost cooperation between Indonesia and China in the fight against drug abuse, the Indonesian anti-narcotics agency, the National Narcotics Agency (BNN) is set to assign a number of its personnel to be posted at China’s National Narcotics Control Commission (NNCC).

"We are planning to post several BNN’s officials at the NNCC and vice versa so that cooperation between the two sides, which began in 2012, will be more effective,” said BNN Chief Comr. Gem Budi Waseso to Indonesia’s state news agency Antara in Beijing on Saturday (13/8).

Budi added that BNN and NNCC have also agreed to cooperate to improve abilities to deal with drug abuses cases, such as through training and supports of modern devices.

"Cooperation between the two sides have successfully disclosed a number of major drug smuggling case through China to Indonesia. Therefore, cooperation on the exchange of intelligence information will be improved so that cooperation implementation can be more effective and efficient,” Budi said.

According to Budi, China is one of the major gates of the circulation of drugs in Indonesia, both through air and land.

RINI UTAMI | ANTARA

that news is related to the following

TUESDAY, 16 AUGUST, 2016 | 06:42 WIB
Most Drugs Smuggled into Indonesia Come from China: BNN

TEMPO.CO, Jakarta - Most drugs smuggled into Indonesia came from China, according to the spokesman of the National Narcotics Agency (BNN), Senior Commissioner Slamet Pribadi.

"China is the largest supplier of drugs that come into Indonesia," Slamet Pribadi said on Sunday.

Chinese drugs network syndicates also control the drug trafficking racket in Indonesia, he added.

Iran was the second largest source of smuggled illicit drugs, he said.

As many as 44 new psychoactive substances (NPS) were currently being circulated illegally in Indonesia.

According to data from the United Nations Office on Drugs and Crime (UNODC), 651 new psychoactive substances (NPS) exist in the world, he said.

He hoped that the NPS wil be included in the substances covered by Indonesias anti-narcotic law.

The country has more than five million drug users, mostly young people. Between 30 to 50 Indonesians, mostly youth, die every day due to drug addiction.

Having declared a drug emergency status in Indonesia, it is now one of the few countries to have imposed the harshest drug laws in the world.

On July 29 this year, four death row inmates convicted for drug trafficking were executed. Among them were three Nigerians while the fourth was an Indonesian.

Last year, Indonesia had executed 14 drug convicts including an Indonesian, a Nigerian, a Brazilian, a Dutch a Vietnamese and two Australians.


ANTARA
http://en.tempo.co/read/news/2016/0...s-Smuggled-into-Indonesia-Come-from-China-BNN
weeks ago i read an article of interviews to several australian drug users who most agree that bringing drug in a country like singapore and indonesia are suicidal and consider australia as a drug users paradise. support war on drug on all front. death sentence to the trafficker and give the user support for a successful rehabilitation. don't let Indonesia become a drug users paradise..

 

[pr1v4t33r]

weeks ago i read an article of interviews to several australian drug users who most agree that bringing drug in a country like singapore and indonesia are suicidal and consider australia as a drug users paradise. support war on drug on all front. death sentence to the trafficker and give the user support for a successful rehabilitation. don't let Indonesia become a drug users paradise..

The real hell for drug users, peddlers and traffickers today is Philippines. Police and vigilante mob kill them like cockroach there. #jadi-inget-petrus

 

[Nike]

Russian Ambassador lauds President Jokowi`s speech
Selasa, 16 Agustus 2016 20:09 WIB | 696 Views

Ambassador Mikhail Galuzin. (ANTARA)

Jakarta (ANTARA News) - Russias Ambassador to Indonesia Mikhail Galuzin has lauded President Joko Widodo (Jokowi)s speech in which he had emphasized the need to make Indonesia more competitive globally.

"I am impressed by the message conveyed by President Joko Widodo. President Joko Widodo has declared that Indonesia is becoming stronger in the global competition," Mikhail Galuzin said when attending the annual session of the Peoples Consultative Assembly (MPR) on the occasion of the 71st anniversary of Indonesias Independence, here on Tuesday.

The ambassador remarked that Russia has expressed its readiness to cooperate with Indonesia in the field of infrastructure development.

The infrastructure development program increases the competitiveness of Indonesia, Galuzin noted, and has resulted in friendly countries wanting to cooperate and invest further.

In addition, the ambassador asked the foreign diplomats to study a number of new laws put in place by Indonesia, including the legislation offering a tax amnesty.

"I hope we can comprehensively discuss the issue of infrastructure development in the eastern part of Indonesia," Galuzin pointed out.

President Joko Widodo had earlier noted that the government was focusing on poverty eradication, employment creation and narrowing down the social gap as part of the efforts to accelerate the national development program.

"As part of the efforts to expedite development, the government focused on three breakthrough steps of eradicating poverty, unemployment and social gap and imbalance," President Joko Widodo (Jokowi) recalled in his State of the Nation address during a joint session of the House of Representatives (DPR) and the Regional Legislative Council (DPD) here on Tuesday, in connection with the 71st anniversary of the Indonesian Independence.

The three steps are, respectively, accelerating infrastructure development; improving human resources and enhancing productive capacity building; and deregulating and de-bureaucratizing procedures.

Infrastructure development will strengthen connectivity and narrow down the social gap and imbalances, he stressed.

The acceleration of logistics infrastructure development include construction of roads, seaports, airports and railways, while strategic infrastructure development covers, among other things, power plants, telecommunication networks, irrigation system and public housing.
(Uu.A063/INE/KR-BSR/A014)
http://www.antaranews.com/en/news/106276/russian-ambassador-lauds-president-jokowis-speech

 

[Kalazan]

The real hell for drug users, peddlers and traffickers today is Philippines. Police and vigilante mob kill them like cockroach there. #jadi-inget-petrus

punishement without justice...
my point is... why the f*cking most advanced human right country like US, France are shut up.
while indonesia doing with lawfull punishment they are speak loudly.

 

[Nike]

Why Is Indonesia Sinking 70 Foreign Vessels on Its Independence Day?
Jakarta will conduct its largest public sinking of foreign vessels under Jokowi to date.

By Prashanth Parameswaran
August 10, 2015
571
3
3
577 Shares

The Indonesian Navy (TNI-AL) plans to blow up 70 foreign ships when the country celebrates the 70th year of Indonesian independence August 17, the country’s navy chief said August 7.

Speaking following a base inauguration in Pontianak, TNI Navy Chief of Staff Admiral Ade Supandi said the foreign ships to be sunk were ones caught poaching in Indonesian waters by the nation’s authorities.

The act itself will come as little surprise to most Indonesia watchers. As I’ve written previously, Indonesia under President Joko “Jokowi” Widodo has launched a tough crackdown on illegal fishing in Indonesian waters, which he says causes the country to suffer annual losses of over $20 billion (See: “Explaining Indonesia’s ‘Sink the Vessels’ Policy Under Jokowi”). That has resulted in a series of highly public sinking of boats from neighboring countries over the past year – part of what Jokowi has described as a “shock therapy” approach in spite of concerns among some of Indonesia’s neighbors (See: “Is Indonesia Turning Away From ASEAN Under Jokowi?”). While the practice of sinking vessels itself is not new, it has been conducted in a more high-profile and expansive manner as part of Jokowi’s broader vision of turning the country into a “global maritime fulcrum” between the Indian and Pacific Oceans (See: “The Trouble With Indonesia’s Foreign Policy Priorities Under Jokowi”).

Enjoying this article? Click here to subscribe for full access. Just $5 a month.
But this appears to be the largest mass public sinking of foreign vessels under Jokowi thus far. The last one of its kind, which occurred on May 20 to commemorate National Awakening Day, involved 41 foreign vessels, including the first vessel from China to be sunk (See “Why Did Indonesia Just Sink a Vessel from China?”). The choice to blow up 70 vessels to celebrate 70 years of Indonesian independence this time is likely to fuel fears that the Jokowi administration is using the issue to stoke Indonesian nationalism amid its waning popularity.

Yet Indonesian officials continue to point out that the problem is a serious one and that the country has little choice but to employ the approach to safeguard its rights. Asep Burhanudin, the director general of marine and fisheries natural resources supervision, said that as of the beginning of August 2015, his office had handled at least 92 cases of poaching. However, as Asep himself admitted, poaching is not an act perpetrated by foreign vessels alone – 41 of those 92 cases actually involved Indonesian-flagged ships. Among the foreign ships, a majority of them came from Vietnam (33 ships) while the rest came from the Philippines (eight), Thailand (five), and Malaysia (five).

http://thediplomat.com/2015/08/why-is-indonesia-sinking-70-foreign-vessels-on-its-independence-day/

 

[Kalazan]

Why Is Indonesia Sinking 70 Foreign Vessels on Its Independence Day?
Jakarta will conduct its largest public sinking of foreign vessels under Jokowi to date.

By Prashanth Parameswaran
August 10, 2015
571
3
3
577 Shares

The Indonesian Navy (TNI-AL) plans to blow up 70 foreign ships when the country celebrates the 70th year of Indonesian independence August 17, the country’s navy chief said August 7.

Speaking following a base inauguration in Pontianak, TNI Navy Chief of Staff Admiral Ade Supandi said the foreign ships to be sunk were ones caught poaching in Indonesian waters by the nation’s authorities.

The act itself will come as little surprise to most Indonesia watchers. As I’ve written previously, Indonesia under President Joko “Jokowi” Widodo has launched a tough crackdown on illegal fishing in Indonesian waters, which he says causes the country to suffer annual losses of over $20 billion (See: “Explaining Indonesia’s ‘Sink the Vessels’ Policy Under Jokowi”). That has resulted in a series of highly public sinking of boats from neighboring countries over the past year – part of what Jokowi has described as a “shock therapy” approach in spite of concerns among some of Indonesia’s neighbors (See: “Is Indonesia Turning Away From ASEAN Under Jokowi?”). While the practice of sinking vessels itself is not new, it has been conducted in a more high-profile and expansive manner as part of Jokowi’s broader vision of turning the country into a “global maritime fulcrum” between the Indian and Pacific Oceans (See: “The Trouble With Indonesia’s Foreign Policy Priorities Under Jokowi”).

Enjoying this article? Click here to subscribe for full access. Just $5 a month.
But this appears to be the largest mass public sinking of foreign vessels under Jokowi thus far. The last one of its kind, which occurred on May 20 to commemorate National Awakening Day, involved 41 foreign vessels, including the first vessel from China to be sunk (See “Why Did Indonesia Just Sink a Vessel from China?”). The choice to blow up 70 vessels to celebrate 70 years of Indonesian independence this time is likely to fuel fears that the Jokowi administration is using the issue to stoke Indonesian nationalism amid its waning popularity.

Yet Indonesian officials continue to point out that the problem is a serious one and that the country has little choice but to employ the approach to safeguard its rights. Asep Burhanudin, the director general of marine and fisheries natural resources supervision, said that as of the beginning of August 2015, his office had handled at least 92 cases of poaching. However, as Asep himself admitted, poaching is not an act perpetrated by foreign vessels alone – 41 of those 92 cases actually involved Indonesian-flagged ships. Among the foreign ships, a majority of them came from Vietnam (33 ships) while the rest came from the Philippines (eight), Thailand (five), and Malaysia (five).

http://thediplomat.com/2015/08/why-is-indonesia-sinking-70-foreign-vessels-on-its-independence-day/

how many vessel for today Independence?

 

[Robin Wong]

Why Is Indonesia Sinking 70 Foreign Vessels on Its Independence Day?
Jakarta will conduct its largest public sinking of foreign vessels under Jokowi to date.

August 10, 2015

Not sure why you'd post this one year old article on Indonesian economy news thread

 

[Bennedict]

Indonesia to Explore Possibility of Joining TPP

TEMPO.CO, Jakarta - Foreign Minister Retno Marsudi said Indonesia will step up exploration of possible membership in international cooperations including the Trans-Pacific Partnership Agreement (TPPA).

The message was said by Minister Retno explaining President Joko Widodo’s stance on international agreements, which was conveyed before the House of Representative.

President Joko Widodo in his state of the nation address celebrating Indonesia’s 71st Independence Day said that the Indonesian government will expedite the exploration of international trade deals and mull Indonesia’s participation in international economic partnerships, in which he referred to Trans-Pacific Partnership Agreement (TPPA) and Regional Comprehensive Economic Partnership (RCEP).

“We have been studying the TPPA. We are conducting cost-benefit analysis [of joining the TPPA]. The study is carried out by the Coordinating Ministry for Economic Affairs,” Minister Retno toldAntara.

She also said that the Indonesian government is also taking part in the negotiation process of the RCEP.

“It has to be said that the RCEP is also being negotiated and it has yet to reach conclusions,” she explained.

On possible overlap of Indonesia’s plans to join the TPPA and the RCEP, in addition to the implementation of ASEAN Economic Community (AEC), Minister Retno said the government is still evaluating the issue.

“Some articles [in the TPPA and the RCEP] are similar indeed, but not exactly the same,” she said.

ANTARA

-
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Indonesia`s Economic Growth, One of the highest in Asia

TEMPO.CO, Jakarta - President Joko "Jokowi" Widodo said the Indonesian people should be thankful of the state's record as one of the countries with the highest economic growth in Asia despite affected by the global economic slowdown.

“Indonesia’s economy in Q1 2016 grew 4.92 percent. In Q2 2016, the national economic growth climbed 5.18 percent,” said Jokowi at the speech of 71st Indonesia Independence Day celebration in Parliament Building, Senayan-Jakarta on Tuesday, August 16, 2016.

He said the state’s economic growth was above the world and developing countries’ average economic growth.

The president says that 2016 is the Year of National Development Acceleration following the development of infrastructure across the country; particularly in villages, suburbs, and border areas in order to strengthen national connectivity.

“Armed with the achievement of fundamental economic transformation, entering the second year, the government intends to accelerate the development,” said Jokowi.

The Joint Session between the National Parliament and Local Parliament led by Parliament Chairman Ade Komaruddin was attended by leaders of state institutions including the chairman of the People’s Consultative Assembly Zulkifli Hasan and the House of Representative chairman Irman Gusman.

ANTARA
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[Nike]

Indonesia, Singapore to open joint Kendal Industrial Complex
Kamis, 18 Agustus 2016 17:29 WIB | 377 Views

Jakarta (ANTARA News) - Indonesia and Singapore will open the Kendal Industrial Park (KIP), a joint industrial complex, built in Kendal City, Central Java, on August 26.

"President Joko Widodo and Prime Minister Le Hsien Loong will officially inaugurate the industrial complex," Indonesia Foreign Affairs Ministrys Director for East Asia and Pacific Affairs Edi Yusup stated here on Thursday.

Yusup noted in a press briefing at the Foreign Affairs Ministry that the Kendal Park by the Bay was being built by Indonesian company PT Jababeka and Singaporean firm Sembcorp in two phases: a thousand-hectare integrated industrial park completed in 2013 and a 2.7 thousand-hectare industrial complex to be developed by 2020.

The KIP is being built to meet international standards and developed for mixed use as an industrial as well as a residential and commercial area that will meet the rising demand for cost-competitive manufacturing facilities in Indonesia.

The KIP is strategically located some 21 kilometers (km) west of Semarang, the capital of Central Java, 20 km from the Ahmad Yani International Airport, and 25 km to the Tanjung Emas Seaport.

Yusup said the investment to build the KIP has reached Rp3.2 trillion, which was sourced from Japan, Singapore, and Malaysia.

"A total of 16 companies from Japan, Singapore, and Malaysia have joined the KIP," he noted.

The KIP would be developed into an industrial center for developing sectors, such as garment, textile, leather, heavy industry, food processing, and chemical as well as for manufacturing beauty care products and automotive parts and components.

The KIP would also be supported by trained workforce from Central Java, with some 1,184 vocational training institutes to churn out 150 thousand graduates per year and 274 universities and 20 polytechnics to produce 103 thousand graduates per year. (*)

http://www.antaranews.com/en/news/106307/indonesia-singapore-to-open-joint-kendal-industrial-complex

5.3 percent growth target achievable: Minister
Kamis, 18 Agustus 2016 08:03 WIB | 586 Views

Jakarta (ANTARA News) - Coordinating Minister for Economic Affairs Darmin Nasution said he is optimistic that the economic growth target of 5.3 percent in 2017 could be achieved by optimizing the performance of the investment sector.

"If you ask whether the 5.3 percent target is achievable, I think it is not something that is difficult to achieve," Nasution stated in Jakarta on Wednesday.

Nasution noted the government could count on the proposed investment actually being realized as the 2017 begins once the contracts for the procurement of infrastructure projects, such as highways and power plants, are signed in 2016.

"At least by November or December, or by early next year, actual investment will be made. That will be recorded as having been realized and will have an impact on economic growth," he added.

However, Nasution reminded that the investment is not yet adequate, because infrastructure development could last longer than initially estimated.

"The realization of investment can be slow because these projects are generally long term in nature, such as toll roads and power plants. The construction can start only after two or three years," he pointed out.

Besides investments, Nasution observed that the government could still rely on domestic consumption to support economic performance by ensuring that people retain their purchasing power and by keeping inflation under control.

Nevertheless, global economic challenges could also pose an obstacle that could hamper the potential for economic growth in 2017 because the turmoil in developed and developing countries has disrupted the performance of the national trade sector until now.

"There seems to be an upward movement of exports and imports, but we cannot do much. We realize this as a formidable challenge before the recovery of global economic growth," Nasution conceded.

Nasution believed the government can solve a variety of domestic and global challenges because it has taken certain steps in anticipation, such as the issuance of economic policy packages which will start yielding visible results in 2017.

"We believe that all this could enhance the economic growth, but not too significantly," he underlined.

Overall, the government expects the economic growth in 2017 to have a qualitative improvement, thanks to better human resources, improved productivity and equitable economic development.(*)

http://www.antaranews.com/en/news/106294/53-percent-growth-target-achievable-minister

 

[UMNOPutra]

Now .. I can understand why Jokowi offered our PM Najib Razak to take over the majority shares of PTDI and/or to establish a joint venture with PTDI ...

I think Malaysia will totally support Indonesia in this "strategic industry" ... So, it would be nice if PTDI can move their main production facility to Selangor and Kertajati by 2025 ... ..A win win scheme for both countries ....Serumpun Melayu ...
-------
Bisnis.com, BANDUNG--PT Dirgantara Indonesia (PTDI) berencana memindahkan pabrik pesawat terbang ke kawasan aerocity Kertajati, Majalengka.

Dirut PTDI Budi Santoso mengatakan rencana kepindahan ini merupakan permintaan Presiden Joko Widodo (Jokowi) pada pihaknya dalam dua kali kesempatan berbeda. Presiden menilai pabrik pesawat terbang tak layak menempati lokasi saat ini yang terbatas.

"Pertemuan kami dengan presiden, ditanyatakan PT DI berapa luasannya? 50 ha. Masa produksi kapal terbang segitu . Ga maju-maju. Akhirnya pak presiden minta di Kertajati," katanya usai bertemu Gubernur Jabar Ahmad Heryawan di Gedung Sate, Bandung, Kamis (18/6/2016).

Diakuinya kondisi pabrik pesawat PT DI di komplek Husein Sastranegara saat ini sudah tidak bisa dikembangkan karena lahan makin terbatas.

"PT DI pindah dari Bandung, tapi tetap di Jabar, karena kalau di Bandung sudah terlalu.." ujarnya tanpa melanjutkan.

Menurutnya rencana kepindahan akan mulai diproses dari sekarang, namun Budi memastikan kemungkinan ini bisa terealisasi dalam 2 atau 3 tahun mendatang. Dia menilai yang penting saat ini memastikan lahan di aerocity Kertajati aman.

"Nanti secara bertahap pindah. Yang di Bandung nanti dikembalikan ke negara," paparnya.

Budi mengatakan kepindahan PT DI ke kawasan baru tersebut adalah program jangka panjang BUMN ini. Secara bertahap nantinya pengerjaan pesawat akan dikerjakan di Bandung, namun untuk produksi akan dilakukan di Majalengka.

"Atas perintah Presiden, untuk pesawat militer di Bandung," cetusnya.

 

[Kalazan]

you waannt? errr...

 

[skyhigh88]

Singapore PM to boost investment during Indonesia visit
Liza Yosephine
The Jakarta Post
Jakarta | Thu, August 18 2016 | 05:31 pm

Indonesian President Joko€ Widodo (left) shakes hands with Singaporean Prime Minister Lee Hsien Loong during a press conference at the Presidential Palace in Singapore on July 28.(AP/Joseph Nair)

Singaporean Prime Minister Lee Hsien Loong is set to meet with President Joko "Jokowi" Widodo on Aug. 24-26 for a leaders' retreat in Semarang, Central Java, in a bid to boost investment opportunities in Indonesia.

The Foreign Ministry’s East Asia and Pacific director Edi Yusup said the visit would focus on strengthening economic ties and would be marked by an opening ceremony for an industrial area in Kendal in Semarang.

"The industrial area is the result of collaboration between [Indonesian company] PT Jababeka and [Singaporean company] Sembcorp. It is the first industrial area in Semarang," Edi told reporters during a press briefing on Thursday.

The Prime Minister will be accompanied by his deputy, nine ministers and 14 CEOs from Singaporean companies, Edi said.

Singapore is Indonesia's biggest investor and it is hoped the upcoming visit will inspire more investment.

According to Edi, there are already 16 companies from Singapore, Malaysia and Japan that have expressed interest in investing in the area. The combined investment portfolio amounts to roughly 3.2 trillion (US$244 million).

The companies range from garment, textile, leather, wood processing, beauty treatment products and processed food companies to automotive spare-parts manufacturers, he added.

Kendal Industrial Park (KIP), a 2,700 hectares integrated industrial park in Central Java, Indonesia.

 

[UMNOPutra]

It is interersting to hear a rumor in Singapore that Jokowi also offered ST Engineering to join Indonesia to develop PTDI, PINDAD, PAL and others .... So, may be better if not only Singapore and malaysia can join it .. but also other ASEAN countrues can also participate it ...So, PTDI, PAL, PINDAD can easily reach its "Econonmic of Sale" to compete with others in global market ...