Indonesia Indonesian Economy News and Updates

[Madokafc]

No wonder, Alman got jitter and bitter with this move no one can't hold any deals with Japan. The politician who backed the deal likely all is heavy weight class including the monster class

@Ravager @Gundala and other

 

[Madokafc]

Duet Luhut-Erick 'Blusukan' ke Jepang Demi Dana Abadi Jokowi​

Muhammad Iqbal, CNBC Indonesia
NEWS

03 December 2020 06:10

Foto: Bendera Jepang (REUTERS/Toru Hanai)

Jakarta, CNBC Indonesia - Menteri Koordinator Bidang Kemaritiman dan Investasi Jenderal TNI (Purn) Luhut Binsar Pandjaitan dan Menteri Badan Usaha Milik Negara Erick Thohir melakukan kunjungan kerja ke Jepang. Salah satu poin penting dari kunjungan ini berkaitan dengan rencana Indonesia mendirikan Sovereign Wealth Fund (SWF) atau lebih dikenal dengan Nusantara Investment Authority (NIA).

"Presiden RI menugaskan Menteri Koordinator Bidang Kemaritiman dan Investasi dan Menteri BUMN RI berbicara dengan pemerintah dan pengusaha terkait di Tokyo pada 3-4 Desember 2020 untuk mendapatkan dukungan. Kunjungan kedua menteri ini juga merupakan tindak lanjut dari kesepakatan Presiden RI dan PM Jepang di Bogor pada tanggal 20 Oktober 2020," ujar Dubes RI untuk Jepang Heri Akhmadi seperti dikutip dari laman KBRI Jepang, Kamis (3/12/2020).

Menurut rencana, Luhut dan Erick direncanakan akan bertemu sejumlah pejabat Kementerian Ekonomi (METI) dan beberapa lembaga keuangan di Jepang, antara lain Japan Bank for International Cooperation (JBIC).

NIA adalah lembaga yang akan berfungsi mengelola investasi dan menunjang pembangunan ekonomi Indonesia. Pemerintah RI mengharapkan NIA dapat mendorong perbaikan iklim investasi, pengembangan nilai aset negara dan menunjang pembangunan ekonomi, khususnya dalam mendukung realisasi proyek-proyek prioritas nasional.

Selain penjajakan dukungan dari Jepang, Pemerintah Indonesia juga sedang menjajaki dukungan dari Amerika Serikat dan Uni Emirat Arab.

Baca:​ Titah Luhut: Jangan Ada Kerumunan Lagi dengan Alasan Apapun!

Berikut adalah agenda Luhut dan Erick pada Kamis (3/12/2020) yang diterima CNBC Indonesia:

10.20-10.40 Meeting w/ Mr Hiroshige Seko, Former METI minister di Diet Member's Office Building

11.30-12.00 Meeting w/ Mr. Yasunaga CEO Mitsuo & Co di Garuda Room KBRI.

12.00- 13.00 Makan siang di Garuda Room KBRI

13.30-14.00 Meeting w/ Mr Kobayashi (Chairman of Mitsubishi Corp) di Garuda Room KBRI.

14.30-15.00 Meeting w/ Mr Fujimoto (CEO Sojitz Corporation) di Garuda Room KBRI.

15.50-16.20 Meeting w/ Mr. Hiroto Izumi ( Special Advisor PM) di VIP Room PM Office

17.00-17.30 meeting w/ Mr. Eiji Hashimoto (president Nippon Steel Co. Ltd) di Garuda Room KBRI

18.00-19.00 Meeting w/ Mr. Hironari Furukawa ( president Hanwa Co. Ltd) di Garuda Room KBRI

Duet Luhut-Erick 'Blusukan' ke Jepang Demi Dana Abadi Jokowi

Luhut dan Erick direncanakan akan bertemu sejumlah pejabat Kementerian Ekonomi (METI) dan beberapa lembaga keuangan di Jepang

www.cnbcindonesia.com

 

[Ravager]

Damn , that FFM ships were done deal allready . Indonesia and japan alignment was a due far course . It's a symbiotic relationship forges from ages . While i stay to keep my feet in the ground things were bound to accelerated fast !! I just wish it wasn't on the SoKor expenses tho'
Those kimchi lover are sure a persistent and possesives

 

[Madokafc]

Damn , that FFM ships were done deal allready . Indonesia and japan alignment was a due far course . It's a symbiotic relationship forges from ages . While i stay to keep my feet in the ground things were bound to accelerated fast !! I just wish it wasn't on the SoKor expenses tho'
Those kimchi lover are sure a persistent and possesives

They met with chairman of Mitsubishi corps and Nippon steel...

 

[Gundala]

17.00-17.30 meeting w/ Mr. Eiji Hashimoto (president Nippon Steel Co. Ltd) di Garuda Room KBRI

Uh oh I like this one, with Eric Tohir present I hope there would be significant changes related to Krakatau Steep and all its related company. Sell/merge it with Nippon steel advanced technology via SWF will boost domestic metalurgy technology and balance the dominance of China steel company here. We also need the metalurgy technology + production technology from them.

 

[Madokafc]

Menteri Perhubungan Budi Karya Sumadi (kanan) melepas keberangkatan kapal MV Ostina saat mengecek kesiapan operasional Pelabuhan Patimban di Subang, Jawa Barat, Kamis (3/12/2020). Dalam kesempatan tersebut, Menhub Budi Karya melihat langsung uji coba bongkar muat pengangkutan sebanyak 22 unit mobil dari Car Terminal ke dalam kapal MV Ostina yang akan menuju Pelabuhan Belawan di Medan. Pelabuhan Patimban rencananya beroperasi pada minggu ke-2 atau ke-3 Desember 2020. ANTARA FOTO/Humas Kementerian Perhubungan/Handout/rwa.

 

[Madokafc]

Petugas melihat kondisi Kereta Rel Listrik (KRL) saat berada di Stasiun Klaten, Jawa Tengah, Jumat (4/12/2020). PT Kereta Commuter Indonesia (KCI) masih melakukan tahapan uji coba KRL Jogja-Solo dalam sistem listrik aliran atas, kecepatan KRL, dan sarananya sehingga dapat mengurangi masalah dalam pelayanan perjalanan KRL. ANTARA FOTO/Aloysius Jarot Nugroho/rwa.

edited by mod:
Officers see the condition of the Electric Rail Train (KRL) at Klaten Station, Central Java, Friday (4/12/2020). PT Kereta Commuter Indonesia (KCI) is still conducting the trial stage of the Jogja-Solo KRL in its overhead power system, KRL speed, and its facilities so as to reduce problems in KRL travel services. BETWEEN PHOTOS / Aloysius Jarot Nugroho / rwa.

 

[Umigami]

After a flurry of deals, is Indonesia becoming too reliant on Huawei?

There are concerns that Huawei is becoming the country’s only vendor, and worries over the increased risk of Chinese interference, cyberattacks and hacking.

amp.scmp.com

 

[Kafkaesque]

Hello, new (few days old) member here!

This is an old-ish news (few weeks old), but since I keep hearing the phrase "we don't have money" - I'd like to say that "we do. Lots of available yet unused money". It's just the money is not allocated for military / weapons procurement. This year, as per November-December, there is around 70 BILLION USD (1000 trilliun rupiah) of unused money! Although the number of this year is quite huge (due to "Covid fund"), but I am sure that lots of you guys are familiar with the story of "ngabisin anggaran di akhir tahun" that happened EVERY YEAR.

This is one of the reasons of why I regret that we don't have military industry capable of building stuff like jet fighters or large-ish ship of our own, because if we do, the DoD can ask the Finance minister and convince the public to use these money for defense purpose instead, since we built our armaments locally.

Uang Belanja Masih Banyak, Sri Mulyani Sesalkan Kurangnya Penyerapan APBD

Dana tersebut terdiri dari APBN Rp 798,7 triliun dan APBD yang sekitar Rp 402,3 triliun.

www.suara.com

 

[trishna_amrta]

Damn , that FFM ships were done deal allready . Indonesia and japan alignment was a due far course . It's a symbiotic relationship forges from ages . While i stay to keep my feet in the ground things were bound to accelerated fast !! I just wish it wasn't on the SoKor expenses tho'
Those kimchi lover are sure a persistent and possesives

More like alignment of interest rather than any long historical ties. Unfortunately I extremely doubt Nippon could still exist as a sovereign nation past this century

Uh oh I like this one, with Eric Tohir present I hope there would be significant changes related to Krakatau Steep and all its related company. Sell/merge it with Nippon steel advanced technology via SWF will boost domestic metalurgy technology and balance the dominance of China steel company here. We also need the metalurgy technology + production technology from them.

That is also what I've always said, but most Indonesian are just too severely entrenched by feel good news articles & chauvinism. Who knows we might be able to locally produce ballpoint in the near future (that will be a metallurgy & precision work achievement on its own)

After a flurry of deals, is Indonesia becoming too reliant on Huawei?

There are concerns that Huawei is becoming the country’s only vendor, and worries over the increased risk of Chinese interference, cyberattacks and hacking.

amp.scmp.com

False premise (very typical of SCMP) It doesn't matter whether our telecommunication infrastructure use Huawei, Alcatel-Lucent, Ericsson, Cisco, etc we will still be EXTREMELY VULNERABLE to massive & coordinated cyberattack. What most people don't understand about cyberattack vulnerability (and most likely won't) that is in practice it's about human factor (kualitas SDM) rather than buying any fancy pieces of hardware

Hello, new (few days old) member here!

This is an old-ish news (few weeks old), but since I keep hearing the phrase "we don't have money" - I'd like to say that "we do. Lots of available yet unused money". It's just the money is not allocated for military / weapons procurement. This year, as per November-December, there is around 70 BILLION USD (1000 trilliun rupiah) of unused money! Although the number of this year is quite huge (due to "Covid fund"), but I am sure that lots of you guys are familiar with the story of "ngabisin anggaran di akhir tahun" that happened EVERY YEAR.

This is one of the reasons of why I regret that we don't have military industry capable of building stuff like jet fighters or large-ish ship of our own, because if we do, the DoD can ask the Finance minister and convince the public to use these money for defense purpose instead, since we built our armaments locally.

Uang Belanja Masih Banyak, Sri Mulyani Sesalkan Kurangnya Penyerapan APBD

Dana tersebut terdiri dari APBN Rp 798,7 triliun dan APBD yang sekitar Rp 402,3 triliun.

www.suara.com

Its has nothing to do with procuring domestic products / service, it's about left over bureaucratic practice & culture since the days of VOC.

Even IF... IF... we do have the necessary industrial capacity (which is extremely unlikely in any foreseeable future) the practice will still persist simply due to bad planning or bad execution

 

[Kafkaesque]

Its has nothing to do with procuring domestic products / service, it's about left over bureaucratic practice & culture since the days of VOC.

Even IF... IF... we do have the necessary industrial capacity (which is extremely unlikely in any foreseeable future) the practice will still persist simply due to bad planning or bad execution

I know why it happened, my point is, IF we have capable military industry, then at least we can absorb the unused money for something that is actually useful (rather then spending it on parties at hotels and / or silly social ads on TV / radios).

Of course state institutions "seminars / gatherings / parties at hotels" means money for airlines, hotel owners etc, but after there is zero to show as a result. Meanwhile, defense spending create demand for steel and aluminium, jobs for PT DI, PT PAL, Pindad, LEN etc, and their subsidiaries / sub-contractors, and as the result, we have direly needed weapon systems.

EDIT:

On further thought, actually we are not so far from it, if we are ONLY speaking of building the ship hull and / or aircraft's airframe. We already have experience (although limited) in building around 2k tonnes of ship, same thing with airframe. We may need special kind of steel and aluminium, but we already have Krakatau Steel and Inalum.

We don't have the (proven) technology to build say, a frigate or jet fighters, but again, if we ONLY talking about the hull and airframe, these are not something that is very secretive, unless if we want something like stealth fighter or some very advanced submarine.

With commitments (to buy the product) from the state, ToT and maybe a little PMN (Penanaman Modal Negara), I am sure that these are feasible in a very near future.

The cost? Maybe around 5 billion each (Navy and Airforce - ToT, new jigs etc) - and we can use multi year budgeting scheme to finance it.

 

[Ravager]

More like alignment of interest rather than any long historical ties. Unfortunately I extremely doubt Nippon could still exist as a sovereign nation past this century
False premise (very typical of SCMP) It doesn't matter whether our telecommunication infrastructure use Huawei, Alcatel-Lucent, Ericsson, Cisco, etc we will still be EXTREMELY VULNERABLE to massive & coordinated cyberattack. What most people don't understand about cyberattack vulnerability (and most likely won't) that is in practice it's about human factor (kualitas SDM) rather than buying any fancy pieces of hardware


Its has nothing to do with procuring domestic products / service, it's about left over bureaucratic practice & culture since the days of VOC.

Even IF... IF... we do have the necessary industrial capacity (which is extremely unlikely in any foreseeable future) the practice will still persist simply due to bad planning or bad execution

Even if hypotheticaly ...they should stop be a sovereign nation their legacy are too deeply entrenched in the world psyche and their people would be sought after by the world at large hence the continuation of their said society are definitely preserved . And no single nation would be allowed to take a monopoly/annexed them ...
Especially China would be allowed to touch their land.

Then again ...it's a hypothetical situation .

 

[trishna_amrta]

On further thought, actually we are not so far from it, if we are ONLY speaking of building the ship hull and / or aircraft's airframe. We already have experience (although limited) in building around 2k tonnes of ship, same thing with airframe. We may need special kind of steel and aluminium, but we already have Krakatau Steel and Inalum.

We don't have the (proven) technology to build say, a frigate or jet fighters, but again, if we ONLY talking about the hull and airframe, these are not something that is very secretive, unless if we want something like stealth fighter or some very advanced submarine.

Building ship hull even welding submarine hull is already within our industrial capacity, the same thing with manufacturing fuselage. However even those are far from having the know how of let say turbine blade (monocrystalline high speed steel), or nano-crystalline steel (ultra-high hardness steel)

 

[Madokafc]

Indonesian horor movie going global

 

[Madokafc]

Indonesia PT INKA delivered Locomotive system built in Madiun to Philippines, the deal is reach 1,3 Billion Philippines peso

 

[schuimpjes]

First term Jokowi, we used utangan from Chinese BRI Project for the capital (modal) to fueled our booming and growing infrastructures.

In Jokowi second term and future, we find the way to make our infrastructures by making an SWF (probably the name will be Nusantara Investment Authority) and less reliant to PRC. What is unique, the capitals (modal) are not in the shape of debt (utang), but foreign investments, Quite an idea...

And don't forget in the past we have IGGI, Widjoyo's idea to find capital. From this initiative, we can get capital for Repelita in the form of foreign debt but with low even very low interest (bunga).

Prabowo's father students, Widjoyo and his friends were called as Berkeley Mafia. Even though, Prabowo's father was from Socialist Party (PSI), but PSI was not a leftist party that have a communistic way of thinking about economy, even the PSI was called as Soska (Sosialis Kanan) and Sosialis Salon by the PKI. And had a really unique US anti-communist trace which we have to proud, that our country was and is a great country.

*History about Berkeley Mafia

 

[Madokafc]

Talking about debts, our SOE total debt actually quite worrysome to me, but at least they are using it as funds for infrastructure Development and can be used as colateral bargaining chip.

----+++++----

Indonesian

Home

Media Room

Latest Info

Latest Info​

Title	:	Indonesia’s External Debt April 2020 Managed
Date	:	15-06-2020
Data Source	:	Communication Department
Contact	:	Contact Center BICARA : 1500-131 e-mail : [email protected] Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time
Hits	:	2252
Description	:
Attachment	:

Indonesia’s external debt was managed with a healthy structure at the end of April 2020. The external debt was recorded at USD400.2 billion, consisted of public debt (government and central bank) of USD192.4 billion, as well private debt (including state-owned enterprises) of USD207.8 bilion. Indonesia’s external debt grew 2.9% (yoy), higher than 0.6% (yoy) in the previous month, stemming from higher growth of government external debt, amid slower growth of private external debt.
Government external debt increased, after having contraction in the previous month. Outstanding of government external debt at the end of April 2020 was recorded USD189.7 billion, grew by 1.6% (yoy), reversing the previous month which contracted by 3.6% (yoy). The increasing government’s external debt position was influenced by capital inflow from government securities (SBN) market, and government’s global bonds issuance as part of funding needs, including the handling of COVID-19 outbreak. The management of government external debt is conducted in a prudent and accountable manner to support government spending towards priority sectors, which focus on COVID-19 handling and economic stimulus. These priority sectors include human health & social work activities sector (23.3% of external debt), construction sector (16.4%), education sector (16.2%), financial & insurance sector (12.8%), and public administration, defense, & compulsory social security sector (11.6%).
The trend of slowing private external debt continues. At the end of April 2020, private external debt grew at 4.2% (yoy), lower than 4.7% (yoy) in the previous month. Such development was influenced by a deeper contraction of financial corporation external debt, amid a stable growth of nonfinancial corporation external debt. In April 2020, external debt of financial corporation contracted by 4.8% (yoy), deeper than previous month’s contraction of 2.4% (yoy). Meanwhile, the nonfinancial corporation growth slightly increased from 7.0% (yoy) in March 2020 to 7.3% (yoy) in April 2020. Several sectors with the largest share of external debt, amounted to 77.4% of total private external debt, were the financial & insurance sector; electricity, gas, steam & air conditioning supply sector; mining & drilling sector; and manufacturing sector.
Indonesia's external debt maintained a healthy structure supported by the prudential principle application in its management. Indonesia's external debt to Gross Domestic Product (GDP) ratio in April 2020 at 36.5%, slightly increased from 34.6% in the previous month . In addition, the debt structure remained dominated by long-term debt, accounted for 88.9% of the total external debt. Bank Indonesia, in close coordination with the Government, continues to monitor external debt by promoting the prudential principle application in its management to maintain a solid external debt structure. Furthermore, external debt's role will also be optimized in supporting development financing by minimizing the risks which may affect macroeconomic stability.
The complete data on the latest Indonesia’s external debt and its metadata can be obtained in the publication of Indonesia's External Debt Statistics (SULNI) June 2020 edition on the Bank Indonesia website. This publication can also be accessed through the Ministry of Finance website.​

Head of Communication Department
Onny Widjanarko
Executive Director

Information about Bank Indonesia
Tel. 021-131, Email: [email protected]

404

www.bi.go.id

 

[Madokafc]

Indonesia's financial inclusion index increased in 2019: Jokowi​

Selasa, 28 Januari 2020 17:04 WIB

Our financial inclusion index has increased from 67.8 percent in 2016 to 76.19 percent in 2019
Jakarta (ANTARA) - President Joko Widodo (Jokowi) drew attention to Indonesia's financial inclusion index (FII) having risen to 76.19 percent in 2019.

"Our financial inclusion index has increased, from 67.8 percent in 2016 to 76.19 percent in 2019," Jokowi stated at a meeting on national financial inclusion at the State Palace in Jakarta on Tuesday.

However, the head of state noted that the index is yet below that recorded of neighboring countries in the ASEAN, with Singapore standing at 98 percent; Malaysia, 85 percent; and Thailand, 82 percent.

"This means that we still rank below them," Jokowi stated.

In the meantime, the country's financial literacy index increased, from 29.7 percent in 2016 to 38.03 percent in 2019, which the president considers is yet too low.

Hence, Jokowi has highlighted the importance of prioritizing easy access to formal financial services for all people.

He also sought further expansion of micro-financial institutions, so it can reach all citizens covered by banking services.

Jokowi has called to develop internet-based digital financial services, as internet users in Indonesia had reached 170 million, or some 64.8 percent of its total population.

"I see fintech, digital financial can become an alternative to fast and easy financial services. Fintech outstanding loans had reached Rp12.8 trillion, or increased 141 percent, in November 2019," the president stated.

The head of state also sought to expand access to formal financial services through non-banking services, such as insurance, stock market, and pension fund, to support funding from domestic investors.

"Finally, it is deemed crucial to boost consumer protection, so that people can easily and safely access formal financial services. Public trust is important and inevitable for sustainability of the financial industry and services," Jokowi added. Related news: Jokowi stresses on raising financial literacy to boost micro economy

Related news: Govt optimistic about increasing financial inclusion index

Related news: Indonesia promotes UN resolution on financial inclusion

EDITED BY INE



Translated by: Rangga Pandu AJ, Sri Haryati
Editor: Fardah Assegaf
COPYRIGHT © ANTARA 2020

Indonesia's financial inclusion index increased in 2019: Jokowi - ANTARA News

President Joko Widodo (Jokowi) drew attention to Indonesia's financial inclusion index (FII) having risen to 76.19 percent in 2019. "Our financial ...

www.google.com

 

[Madokafc]

Covid 19 pandemic actually giving momentum for the increase of Financial inclusion and finance literally among people as Fintech and E commercial is badly needed during home isolation

 

[Gary]

This Week in Asia / Economics

Why are Google and Amazon investing in Indonesia’s tech unicorns? Because Alibaba and Tencent are too​

• The US tech giants have made inroads into the Southeast Asian nation this year, joining companies from China in vying for the lucrative regional market
• The American firms are seen as cautious, mostly targeting heavily funded tech companies, while Chinese investors are viewed as more willing to take risks

Resty Woro Yuniar
Published: 8:30am, 30 Nov, 2020

Jakarta-based e-commerce company Bukalapak has attracted a wide range of foreign investment, including most recently from Microsoft. Photo: Handout

Southeast Asia is increasingly becoming a battleground for tech giants from the United States and China
vying for investment opportunities in the region, amid slow growth in the West and heightened political tensions between Washington and Beijing. At the centre of their battle is Indonesia, the region’s largest digital market. This year, four American tech juggernauts – Google, Microsoft, Facebook and PayPal – have invested in the country’s unicorns, or private tech firms valued at over US$1 billion, and the trend is not expected to abate any time soon, analysts say.
“Indonesia, specifically, is the fourth-largest internet population in the world, has a high number of exciting tech start-ups and is the largest market by population,” said Pinn Lawjindakul, vice-president at Lightspeed Venture Partners in Singapore.

Why are Google, Amazon eyeing Indonesia? Because Alibaba, Tencent are too

The US tech giants have made inroads into the Southeast Asian nation this year, joining companies from China in vying for the lucrative regional market.

www.scmp.com