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Three factories ready to unveil electric vehicles this year: Minister​


31st March 2022



Coordinating Minister for Economic Affairs Airlangga Hartarto drove an electric Toyota Kijang Innova concept car during the 2022 Jakarta International Motor Show (IIMS) Hybrid event here on Thursday (March 31, 2022). (ANTARA/Fathur Rochman/FR)

Jakarta (ANTARA) - Three automotive factories are ready to unveil electrical cars in Indonesia this year, Coordinating Minister for Economic Affairs Airlangga Hartato stated at the 2022 Jakarta International Motor Show (IIMS) Hybrid event here on Thursday.

The first factory that had unveiled an electrical car in the nation is PT Hyundai Motor Manufacturing Indonesia.

In mid-March of 2022, the company unveiled the IONIQ 5 electric car officially inaugurated by President Joko Widodo.

The second factory known to had unveiled an electric car in Indonesia is PT Toyota Astra Motor (PT TAM).

On the first day of 2022, IIMS Hybrid officially introduced a battery vehicle electric (BEV) based on the Toyota Kijang Innova.

Hartarto expects that the electric Toyota Kijang Innova would be produced soon.

Meanwhile, the minister steered clear of sharing further details regarding the one last factory.

"There is one other factory that will produce it in September," he stated.

In addition, Hartarto noted that the government continues to push for accelerating the electric vehicle transition in the nation through several regulations, including President Regulation No. 55 of 2019 on Battery-Based Electric Motor Vehicle (KBL) for Road Transportation Acceleration Program.

This regulation stipulates several fiscal and non-fiscal incentive foundations to expedite the industrialization of Battery-Based Electric Motor Vehicle.

Moreover, the others include Government Regulation No. 74 of 2021 on Changes over Government Regulation No. 73 on 2019 on Taxable Goods Classified as Luxury Item in the Form of Motor Vehicle Subject to Sales Luxury Tax.

This regulation provides zero-percent sales luxury tax (PPnBM) for electric vehicle that fulfills the Domestic Component Level (TKDN).

During the event, the minister also noted that state-run electric company PT PLN (Persero) had a large market share for electric vehicles.

Related news: Indonesia should become key player in electric car industry: Jokowi
Related news: BRIN developing driverless electric car
Related news: Transportation Ministry holds electric car tour from Jakarta to Jambi



Reporter: Fathur Rochman, Fadhli Ruhman
Editor: Sri Haryati
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https://en.antaranews.com/news/230053/government-mulls-over-ban-on-bauxite-tin-exports-this-year

Government mulls over ban on bauxite, tin exports this year​


5 hours ago



Illustration - Tin ingots are ready for export in Bangka Belitung ANTARA/Aprionis.


We will stop exporting bauxite in 2022 and tin in late 2022
Jakarta (ANTARA) - The Indonesian government is contemplating on imposing a ban on bauxite and tin exports this year as part of the efforts to develop the downstream mineral industry, a minister stated.

The ban is an interpretation of President Joko Widodo's directive to develop the downstream industry and build a new and renewable energy-based and environmentally friendly industry, Minister of Investment/Head of the Investment Coordination Board (BKPM) Bahlil Lahadalia stated during the Road to G20: Investment Forum monitored in Jakarta on Wednesday.

"We will stop exporting bauxite in 2022 and tin in late 2022," he remarked.

He believed the ban on mineral exports will encourage development of the downstream industry that will contribute maximally to the national income.

The government has also halted nickel exports.

The ban on nickel exports has proven effective to increase the export of nickel derivative products, including stainless steel, he stated.

"What has happened in 2022 is that nickel exports only reached US$2 billion, while stainless steel exports from the downstream industry had soared to US$20 billion," he remarked.

The ban on the export of mining and mineral commodities also has had a positive impact on the country's balance of trade, particularly with China.

Related news: Indonesia's exports touch record US$27.33 bln in April: BPS

"In fact, the deficit of our trade with China is currently not more than US$2 billion. (We believe) that our trade balance with China will record a surplus in 2022 (due to) the contribution from our downstream nickel industry," he stated.

Earlier, President Joko Widodo affirmed that the government's bold step to stop exporting mining raw materials has had a positive impact on the country's balance of trade, and so, the government will go ahead with the policy.

"Our courageous move to stop (exporting crude nickel ore) has been fruitful. Hence, we will stop the export of bauxite, copper, tin, and so on," the president remarked.

Related news: Gesits explores export market expansion to Australia, the Philippines




Reporter: Ade irma Junida, Suharto
Editor: Rahmad Nasution
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Indonesia's exports touch record US$27.33 bln in April: BPS​


17th May 2022



West Sumatra Deputy Governor Audy Jounaldi (left) speaks with coffee farmer Zikwan (right) during the release of the first export consignment of Arabica coffee to Japan from South Solok district on April 29, 2022. (ANTARA PHOTO/Muhammad Arif Pribadi/Lmo/nym/rst)

Jakarta (ANTARA) - The value of Indonesia’s exports reached the highest on record at US$27.33 billion in April this year, Statistics Indonesia (BPS) has reported.

"This April 2022, our export figure reached the highest of all time. The previous record was set in March 2022 at US$26.5 billion," Head of BPS Margo Yuwono said during a press conference in Jakarta on Tuesday.

The value of exports grew 3.11 percent in April compared to the previous month, Yuwono informed. Compared to April 2021, the export value surged by 47.76 percent.

Cumulatively, the value of Indonesia’s exports for the period from January to April this year reached US$93.47 billion, an increase of 38.68 percent from the year-ago period. Meanwhile, non-oil and gas exports reached US$88.73 billion, an increase of 39.12 percent, Yuwono said.

According to BPS data, during the April–March 2022 period, the largest increase in non-oil and gas exports was seen in mineral fuel commodities and amounted to US$642.8 million (13.88 percent). Meanwhile, the largest decline was recorded in shipments of goods made from precious metals and jewelry/gems, which were valued at US$525 million (47.84 percent).

Related news: BNI assists 200,000 Indonesian diaspora in export-import activities

By sector, non-oil and gas exports from the processing industry in January–April 2022 increased 29.19 percent compared to the corresponding period of 2021, while exports of agricultural, forestry, and fishery products swelled 11.94 percent, and exports of mining and other products shot up by 106.29 percent.

In addition, Indonesia’s largest non-oil and gas exports in April 2022 were recorded with China at US$5.49 billion, followed by the United States (US$2.46 billion) and Japan (US$2.24 billion), with the three accounting for 39.37 percent of the total exports. Meanwhile, exports to ASEAN and the European Union (27 countries) were recorded at US$5.44 billion and US$2.02 billion, respectively.

According to the province of origin, the largest exports in January–April 2022 came from West Java and were valued at US$13.03 billion (13.94 percent), followed by East Kalimantan, which exported goods worth US$9.51 billion (10.18 percent), and East Java, which shipped goods worth US$9.13 billion (9.77 percent).

 

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Foxconn has agreed to build electric car components, batteries, and electric motors and relocate its telecommunications spare part manufacturing facilities from China to the Batang integrated industrial area in Central Java in a move estimated to bring $8 billion direct investment to Indonesia.

Mantan ketua HIPMI itu mengatakan Foxconn juga berminat menanamkan dana di Ibu kota baru (IKN).

"Mereka berkeinginan masuk investasi di IKN. Jadi tidak benar kalau ada orang yang mengatakan IKN tidak ada investasi," katanya.

Foxconn also interested to invest in the new capital city Nusantara.
 

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LG to Relocate China Factory to Indonesia, Invest in IKN​


TEMPO.CO, Jakarta - Indonesian Investment Affairs Minister Bahlil Lahadalia stated that LG Electronics would relocate its factory in China to Indonesia, including their research & development. Bahlil conveyed the news following his meeting with LG Corporation CEO Brian Kwon, along with President Joko Widodo or Jokowi in South Korea.

"The relocation plan is good news for Indonesia. The Investment Ministry will facilitate [the process starting] from the permit until the realization of the investment," said the minister in a written statement on Saturday, July 30.

Bahlil said that LG iterated its plan to invest in Indonesia. Besides the factory relocation, the South Korean company also intended to invest in the development of Indonesian new capital or IKN Nusantara. In addition, LG will build an EV battery industry that is integrated from upstream to downstream.

Brian Kwon views that the Indonesian government is serious about developing renewable energy, which can bring great progress to the country. Therefore, he said, LG Corporation is committed to realizing the integrated EV battery industry in Indonesia with a grand package development plan worth US$ 9.8 billion.

LG also eyes to help develop the smart city plan in IKN. Brian hopes the grand package investment will run as planned. However, he sees that there needs to be a development in the human resource quality to balance the technology transfer from South Korea

During the President's working visit to Seoul, South Korea, Jokowi met with ten CEOs of South Korean companies. The ten companies were considered to be interested in investing in Indonesia. The meeting recorded a $6.72 billion investment commitment.

The Investment Ministry data showed that from 2017 until the first semester of 2022, South Korea ranks fifth as the largest contributor to foreign investment in Indonesia, with a total realized investment of US$ 9.08 billion.

 

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Chinese-Indonesia high speed rail cost overrun will be solved with... more debt
🤣👍

Solved this in few weeks or months. IFX ?
 

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Indonesia says Tesla strikes $5 bln deal to buy nickel products - media​


JAKARTA, Aug 8 (Reuters) - U.S. carmaker Tesla (TSLA.O) has signed contracts worth about $5 billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia.

Southeast Asia's biggest economy has been trying to get Tesla to set up a production facility in the country, which has major nickel reserves. President Joko Widodo met with Tesla founder Elon Musk earlier this year to drum up investment.

"We are still in constant negotiation with Tesla ... but they have started buying two excellent products from Indonesia," Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan said in an interview broadcast on Monday.

He said Tesla signed a five-year contract with nickel processing companies operating out of Morowali in Sulawesi island. The nickel materials will be used in Tesla's lithium batteries.


Tesla did not immediately respond to a Reuters email seeking comment.

Indonesia is keen to develop electric vehicles and batteries industries at home and had stopped exports of nickel ore to ensure supply for investors. The move had successfully attracted investments from Chinese steel giants and South Korean companies like LG and Hyundai.

However, most nickel investment so far have gone to production of crude metal such as nickel pig iron and ferronickel.

The government plans to impose export tax on these metals to boost revenue while encouraging more domestic production of higher-value products, a senior official told Reuters last week.

 

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Indonesia: I hope you will invest and build nickel processing plant in Indonesia.

Tesla: Well yes, actually no. I'll only buy the half processed nickel and process the rest to become battery in other country.
Tesla will build a factory in Thailand, right?
 

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Before the pandemic, the project was able to draw interest from big international figures like Tony Blair, the former British prime minister; Sheikh Mohamed bin Zayed Al Nahyan, Abu Dhabi's then crown prince and now UAE president; and SoftBank billionaire Masayoshi Son. But SoftBank Group in March confirmed it will not be investing in the project.

Why? Japanese government officials and experts alike say outside investors have been put off by what they say is a mega project that lacks a big-picture vision. They remain unswayed by Widodo's description of a capital that "will not only house government offices, but it will also become a new economic driving force. It will not only be an ordinary city, but it will be a forest city with world class education and health services."

 

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Before the pandemic, the project was able to draw interest from big international figures like Tony Blair, the former British prime minister; Sheikh Mohamed bin Zayed Al Nahyan, Abu Dhabi's then crown prince and now UAE president; and SoftBank billionaire Masayoshi Son. But SoftBank Group in March confirmed it will not be investing in the project.

Why? Japanese government officials and experts alike say outside investors have been put off by what they say is a mega project that lacks a big-picture vision. They remain unswayed by Widodo's description of a capital that "will not only house government offices, but it will also become a new economic driving force. It will not only be an ordinary city, but it will be a forest city with world class education and health services."

They are doubting the political will post 2024, waiting for the pilpres?

My guess they still mad with KCIC wkwk
 

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Indonesia's digital economy to reach US$77 bln, study projects​


8th November 2022



A resident takes a look at ‘start-up’ applications that can be downloaded via smartphones in Jakarta. Indonesia’s digital economy is projected to grow at a compound annual growth rate of 19 percent to reach US$130 billion by 2025 and more than triple to around US$220 billion to US$360 billion by 2030. (ANTARA FOTO/Aditya Pradana Putra/aww)


After years of acceleration, the growth in the use of the digital technology is now gradually returning to normal, with the wealthy and technology-savvy youth in urban areas becoming the largest users of digital services.
Jakarta (ANTARA) - The e-Conomy SEA 2022 report has projected that the gross merchandise value (GMV) of Indonesia's digital economy will reach US$77 billion by the end of 2022.



"Indonesia has the second-fastest growing e-commerce sector (after Vietnam). However, apart from GMV, there are many dimensions of growth that must now be focused on," Google Indonesia managing director Randy Jusuf said during an online discussion, which was followed from here on Tuesday.



According to Jusuf, to drive short-term growth, businesses now need to focus more on achieving profitability by cutting costs and optimizing operations.



The digital economy is projected to grow at a compound annual growth rate (CAGR) of 19 percent to reach US$130 billion by 2025, and more than triple to around US$220 billion to US$360 billion by 2030.


Related news: Ministry spotlights pros of analog switch-off to several parties

In Indonesia, e-commerce, transportation, and food delivery services are the top three digital services with near-wide usage rates among digital users in urban areas.



Meanwhile, the value of the e-commerce sector, which has continued to drive the digital economy, is expected to reach US$59 billion this year. Though offline shopping activity is now starting to revive, the e-commerce sector accounts for 77 percent of the overall digital economy.



The GMV of transportation and food delivery is projected to reach US$8 billion in 2022 and continue to grow at a CAGR of 22 percent to touch US$15 billion by 2025. Meanwhile, online travel services have shown 60-percent growth compared to the previous year to reach US$3 billion this year.


Related news: Youth digital skills to put Indonesia on progress path: ministry


Digital financial services are also growing thanks to the post-pandemic shift in offline-to-online behavior. In 2022, the gross total value (GTV) of digital payments in Indonesia is estimated to reach US$266 billion and continue to grow by 17 percent to reach US$421 billion by 2025.



"After years of acceleration, the growth in the use of the digital technology is now gradually returning to normal, with the wealthy and technology-savvy youth in urban areas becoming the largest users of digital services," said Jusuf.



The majority of digital players have shifted their priority from acquiring new customers to creating deeper engagement with existing customers, he added.



The e-Conomy SEA report is a multi-annual report that combines data from Google Trends and Temasek, analysis from Bain & Company, and information from various industry sources and interviews with experts regarding the digital economy of six countries in Southeast Asia, namely Indonesia, Vietnam, Malaysia, Thailand, Singapore, and the Philippines.


Related news: G20 Summit to discuss food security, health, digital transformation

Related news: Youngsters should have basic digital technology skills: Minister





Reporter: Aji Cakti, Katriana
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2022
 

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Indonesia remains attractive place for technology investments: study​


8th November 2022



Illustration: An employee scans a barcode for digital payment at a supermarket in Jakarta on September 29, 2022. Digital financial services have replaced the e-commerce sector as the top investment sector by reaching a value of US$1.5 billion in the first half of this year. (ANTARA FOTO/M Risyal Hidayat/YU) (ANTARA FOTO RISYAL HIDAYAT)


Indonesia's digital economy will continue to attract investment because of its strong fundamentals, such as having a large, highly active user base and a dynamic technology start-up ecosystem.
Jakarta (ANTARA) - Indonesia remains an attractive place for technology investments, according to the e-Conomy SEA 2022 report.



"Indonesia's digital economy will continue to attract investment because of its strong fundamentals, such as having a large, highly active user base and a dynamic technology start-up ecosystem," said Fock Wai Hoong, the deputy head of technology and consumer and Southeast Asia at Temasek, during an online discussion here on Tuesday.



In 2022, Singapore and Indonesia will be the top two investment destinations in Southeast Asia. Indonesia has attracted 25 percent of the total value of private funding in the region and in the long term, it will remain attractive to investors along with Vietnam and the Philippines.



Digital financial services have replaced the e-commerce sector as the top investment sector by reaching a value of US$1.5 billion in the first half of this year.



Meanwhile, e-commerce is attracting substantial funding from investors as a sector with a high contribution to the digital economy in Indonesia. The e-commerce sector drew 23 percent of the total private investment in the first half of 2022, equivalent to US$800 million.



In Southeast Asia, including Indonesia, more than 80 percent of venture capitalists (VCs) want to focus more on new sectors such as health technology (healthtech), software as a service (SaaS), and Web 3.0, while the education technology sector (edutech) has experienced a post-pandemic decline following the reopening of schools.



During the online discussion, partner and head of digital practice in Southeast Asia, Bain and Company, Aadarsh Baijal, said that Indonesia's digital economy remains the largest and most diverse out of all Southeast Asian nations.



Digital service providers must keep pace with strong consumer demand through meaningful engagement with different user demographics, which can encourage more active participation in the Internet economy, he added.



"The key to maintaining this positive momentum is to drive the acceleration of Small and Medium Enterprises (SMEs) towards the next growth, particularly by deepening the digital adoption of SMEs across SaaS and financial tools," Baijal said.



The e-Conomy SEA report is a multi-annual report that combines data from Google Trends and Temasek, analysis from Bain & Company, and information from various industry sources and interviews with experts to track the digital economy of six Southeast Asian countries—Indonesia, Vietnam, Malaysia, Thailand, Singapore, and the Philippines.







Reporter: Aji Cakti, Katriana
Editor: Fardah Assegaf
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Indonesia and South Korea building deeper bilateral ties: Hartarto​


8th November 2022



Coordinating Minister of Economic Affairs Airlangga Hartarto receiving the visit of Ambassador of South Korea to Indonesia, Park Tae-sung, in Jakarta, Monday (November 7, 2022). ANTARA/HO-Kemenko Perekonomian.


Those investments will have great contribution to the development of the industry and creation of jobs in Indonesia
Jakarta (ANTARA) - Coordinating Minister of Economic Affairs Airlangga Hartarto expressed optimism that bilateral relations between Indonesia and South Korea would improve, as it would be beneficial for both countries.

While receiving the visit of Ambassador of South Korea to Indonesia Park Tae-sung here, Monday , Hartarto expressed hope that cooperation could be expanded in the energy transition, healthcare, and digital economy sectors., according to a statement from the minister's office here on Tuesday.

He noted that South Korea was placed 7th in terms of investment realization in Indonesia during the January-September 2022 period, with a total investment value of US$1.66 billion spread across 4,016 projects.


Related news: National economy is strong against various challenges: Minister

"Those investments will have great contribution to the development of the industry and creation of jobs in Indonesia," Hartarto noted.

He said that Ambassador Park's visit aims to bolster bilateral cooperation, especially through the holding of the Indonesia-Korea Business Round Table and the signing of a memorandum of understanding (MoU) on digital economic cooperation.

The MoU will be signed between Hartarto and the South Korean minister of trade, industry, and energy on the sidelines of the G20 Summit in Bali on November 15-16, he noted.

The coordinating minister commended the MoU as a foundation to expand the bilateral digital economic cooperation and develop cooperation between private enterprises of both countries.

Related news: Energy transition must be fair, affordable: minister


He also lauded the Indonesia-Korea Business Round Table being organized on the sidelines of the G20 Summit in Bali, which could encourage cooperation between private enterprises of both countries and become a medium for Indonesian and South Korean entrepreneurs to discuss and expand networking in domestic markets.

Hartarto lauded the completion of the Indonesia-Korea Comprehensive Economic Partnership Agreement (IKCEPA) and encouraged all parties to partake in expediting its implementation by January 2023.

Related news: Palm oil industry contributes to economic recovery: Minister Hartarto

Related news: Vocational training key for meeting need for skilled workers: Minister



Reporter: Agatha Olivia V, Nabil Ihsan
Editor: Fardah Assegaf
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Indonesian, Czech companies ink aircraft purchase commitment​


5th November 2022



An L410 NG aircraft purchase commitment was inked at the Halim Perdanakusuma Airport in Jakarta on Friday (November 4, 2022). (ANTARA/Raka Adji).

Jakarta (ANTARA) - Indonesian airlines inked an L410 NG aircraft purchase commitment with an aircraft manufacturer from the Czech Republic, LET Aircraft Industries, and PT Prasandha Dumayasa, which will serve as the local partner in Indonesia, on Friday.

The purchase commitment was signed by the director of PT Prasandha Dumayasa, Evi Lusviana; the director of Wise Air, Wibisana Sugria; the director of Sulut Airways, Marco Dino Umbas; the CEO of Star Wisata Air, Rahmat Effendi; the director of PT Merpati Maintenance Facility (MMF), Rowin Mangkoesubroto; and the deputy commercial director, Asia, of OMNIPOL (the holding company of LET Aircraft Industries), David Holubec.

“So far, 18 units of the aircraft (will be) purchased (under the commitment),” Lusviana said after the signing of the purchase commitment during the Indo Aerospace Expo & Forum 2022 at Halim Perdanakusuma Airbase here on Friday.

Of the 18 aircraft that will be purchased by three Indonesian private airlines under the purchase commitment signed on Friday, 10 aircraft will be purchased by Sulut Airways, three by Wise Air, and five by Star Wisata Air.

According to Lusviana, one of the benefits of purchasing the aircraft through her company is that its MRO (maintenance, repair, and overhaul) is already available in Indonesia through cooperation with the MMF.

“Therefore, every user (of the aircraft) can go to the MMF,” she added.

She said that her side’s main goal is to build the aircraft industry ecosystem in Indonesia.

Thus, she asked the aircraft manufacturer to make the aircraft’s components in Indonesia if, later on, the purchase commitment reaches 50 aircraft.

Apart from that, she also noted that the other goal is to improve air connectivity to regions and islands in the country.

“What we see is the function of this aircraft is to help the community and regional governments to carry out their activities,” she remarked.

The L410 NG aircraft manufactured by LET Aircraft Industries is a multipurpose mission aircraft that can be used for various purposes, for example, passenger aircraft (19 seats), cargo aircraft, air ambulance & flying doctor, and maritime surveillance.

Related news: Indonesian, Czech Republic defense industries ink cooperation pact
Related news: Czech Republic, Indonesia discuss cybercrime prevention












Reporter: Raka Adji
Editor: Rahmad Nasution
COPYRIGHT © ANTARA 2022
 

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Indonesian, Czech companies ink aircraft purchase commitment​


5th November 2022



An L410 NG aircraft purchase commitment was inked at the Halim Perdanakusuma Airport in Jakarta on Friday (November 4, 2022). (ANTARA/Raka Adji).

Jakarta (ANTARA) - Indonesian airlines inked an L410 NG aircraft purchase commitment with an aircraft manufacturer from the Czech Republic, LET Aircraft Industries, and PT Prasandha Dumayasa, which will serve as the local partner in Indonesia, on Friday.

The purchase commitment was signed by the director of PT Prasandha Dumayasa, Evi Lusviana; the director of Wise Air, Wibisana Sugria; the director of Sulut Airways, Marco Dino Umbas; the CEO of Star Wisata Air, Rahmat Effendi; the director of PT Merpati Maintenance Facility (MMF), Rowin Mangkoesubroto; and the deputy commercial director, Asia, of OMNIPOL (the holding company of LET Aircraft Industries), David Holubec.

“So far, 18 units of the aircraft (will be) purchased (under the commitment),” Lusviana said after the signing of the purchase commitment during the Indo Aerospace Expo & Forum 2022 at Halim Perdanakusuma Airbase here on Friday.

Of the 18 aircraft that will be purchased by three Indonesian private airlines under the purchase commitment signed on Friday, 10 aircraft will be purchased by Sulut Airways, three by Wise Air, and five by Star Wisata Air.

According to Lusviana, one of the benefits of purchasing the aircraft through her company is that its MRO (maintenance, repair, and overhaul) is already available in Indonesia through cooperation with the MMF.

“Therefore, every user (of the aircraft) can go to the MMF,” she added.

She said that her side’s main goal is to build the aircraft industry ecosystem in Indonesia.

Thus, she asked the aircraft manufacturer to make the aircraft’s components in Indonesia if, later on, the purchase commitment reaches 50 aircraft.

Apart from that, she also noted that the other goal is to improve air connectivity to regions and islands in the country.

“What we see is the function of this aircraft is to help the community and regional governments to carry out their activities,” she remarked.

The L410 NG aircraft manufactured by LET Aircraft Industries is a multipurpose mission aircraft that can be used for various purposes, for example, passenger aircraft (19 seats), cargo aircraft, air ambulance & flying doctor, and maritime surveillance.

Related news: Indonesian, Czech Republic defense industries ink cooperation pact
Related news: Czech Republic, Indonesia discuss cybercrime prevention












Reporter: Raka Adji
Editor: Rahmad Nasution
COPYRIGHT © ANTARA 2022
N219 ?
 

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L410 NG from LET aircraft industry Czech

this is part of negotiation deal between Czech bank with Indonesian side...
The same deal that got us loan for TriSula and Khan?
 

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Tax revenues in 2022 surpassed target: Finance Minister​


11 hours ago



Finance Minister Sri Mulyani Indrawati at the KiTA State Budget Press Conference in Jakarta, Tuesday, January 3, 2023. (ANTARA/Astrid Faidlatul H/rst)

Jakarta (ANTARA) - Finance Minister Sri Mulyani Indrawati stated that tax revenues throughout 2022 amounted to Rp1,716.8 trillion, or 115.6 percent of the target of Rp1,485 trillion, and increased 34.3 percent (yoy), from Rp1,278.6 trillion.

"The increase in the past two years was extraordinary. In 2021, the tax revenue grew by 19.3 percent, and in 2022, it grew by 34.3 percent," the minister noted at the KiTA State Budget Press Conference in Jakarta on Tuesday.

Tax revenue that exceeded the target was driven by tax components that almost entirely exceeded the target, specifically non-oil and gas income tax, value-added tax (VAT) and luxury goods sales tax (PPnBM), and oil and gas income tax.

In detail, non-oil and gas income tax revenues amounted to Rp920.4 trillion, or 122.9 percent of the target, and were able to grow 43 percent (yoy), while oil and gas income tax amounted to Rp77.8 trillion, which exceeded 120.4 percent of the target and able to grow 47.3 percent (yoy).

The minister noted that oil and gas income tax performance growth was driven by rising oil and gas commodity prices, while non-oil and gas income tax was supported by economic activity and a mix of policies.

Meanwhile, VAT and PPnBM were able to reach Rp687.6 trillion, or 107.6 percent of the target, and grew 24.6 percent due to the increase in expansive economic activity, including changes in VAT rates.

Meanwhile, property tax and other taxes were only able to reach Rp31 trillion, which was 95.9 percent of the target, and grew slightly by three percent (yoy) due to increased commodity prices.

Indrawati explained that the number of tax revenues components were reflections of economic recovery that was fairly distributed across all sectors and regions.

"This is in line with our economic recovery that is fairly even in all sectors and all regions and in terms of aggregate demand and production," she pointed out.

Meanwhile, customs and excise revenue in 2022 was reported at Rp317.8 trillion that also exceeded the target of reaching 106.3 percent and grew 18 percent (yoy), from Rp269.2 trillion.

In detail, excise revenues amounted to Rp226.9 trillion, or 103.1 percent of the target, due to the effectiveness of policies or tariff adjustments and supervision as well as the improvement in pandemic conditions, especially the relaxation of tourist destinations.

For import duties, the revenue amounted to Rp51.1 trillion, or 120.6 percent of the target, influenced by the trend of increasing national import performance as a result of increasing domestic demand.

Meanwhile, export duties revenue is at Rp39.8 trillion, or 108.5 percent of the target, driven by increased export volumes and commodity prices, especially palm oil and mineral and coal products.

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Reporter: Astrid Faidlatul H, Resinta S
Editor: Rahmad Nasution
COPYRIGHT © ANTARA 2023

 
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