Indonesia Indonesian Economy News and Updates

[schuimpjes]

AMMDes is reported to be exported to Dangote group in Africa, with prospects of export to more than 40 countries.

Investors be like : hmm money there, boys. Lock and load.

 

[Madokafc]

Investment in processing industry estimated at Rp323 trillion in 2021​

28th Dec 2020 16:32

Jakarta (ANTARA) - The Industry Ministry has forecast investment in the processing industry to reach Rp323.56 trillion in 2021 based on the assumption that all sub-sectors have recorded positive growth.

According to Industry Minister Agus Gumiwang Kartasasmita, the projection was based on the hypothesis that the COVID-19 vaccination could help to bring the pandemic under control and to usher in recovery in economic activities.

The non-oil and gas processing industry is projected to record a 3.95-percent increase in 2021.

"After it recorded an increase of 37.1 percent as compared to the same period in 2019, investment in the processing industry in 2021 is projected to maintain its increasing trend and reach Rp323.56 trillion," the minister noted at the virtual year-end press conference here on Monday.

According to Kartasasmita, investment would become a driving factor for industrial sector growth in 2021. The law on job creation and the government's commitment to finalizing its derivative regulations have attracted investors.

Furthermore, the minister pointed out that investment contraction in Indonesia amid the pandemic was lower as compared to that in other ASEAN countries.

Some Chinese companies' plan to relocate their plants to Indonesia indicated that the country has emerged as an investment destination during the post-pandemic era.

As of September, investment growth in the processing industry had reached Rp265.28 trillion, up 37.1 percent, from the corresponding period in 2019.

Among the industry sub-sectors to have positive growth projection in 2020 are pharmaceutical, chemical and traditional medicine industry, chemical goods, basic metal, and food industry.

"We can see that food and beverage remained the favorite sector. Metal and automotive remain our power to encourage the development of battery-based and electricity-based vehicles," Kartasasmita affirmed.
Related news: Chinese investment to keep flowing into Lake Toba area: Pandjaitan

Related news: Product packaging should hold importance for MSMEs: Pandjaitan

Close

EDITED BY INE

Translated by: Mentari D Gayati, Sri Haryati
Editor: Fardah Assegaf

 

[Madokafc]

Investors be like : hmm money there, boys. Lock and load.

Ammdes clearly has Niche market and clear purpose. They can be used even for government services like small dump truck, or to carry palm oil kernel and the likes

 

[CountStrike]

Indonesia says US$9.8 billion EV battery MOU agreed with LG Energy Solution​

File photo of the logo of LG Group, one of South Korea's biggest corporations. (Photo: AFP/PARK JI-HWAN)

30 Dec 2020 02:05PM (Updated: 30 Dec 2020 03:35PM)



JAKARTA: Indonesia and a unit of South Korean firm LG Group have signed a memorandum of understanding (MOU) on a US$9.8 billion electric vehicle (EV) battery investment deal, the head of Indonesia's Investment Coordinating Board said on Wednesday (Dec 30).
The deal was signed on Dec 18 and includes investments across the EV supply chain, the board head, Bahlil Lahadalia, told a news conference.


An official at LG Energy Solution, a unit of LG Group, South Korea's fourth-largest conglomerate, confirmed it had agreed an MOU but could not provide details or the deal's value. LG Group in Seoul referred Reuters to its affiliate.
Bahlil said the agreement made Indonesia the first country in the world to integrate the electric battery industry from mining to producing electric car lithium batteries.
"We have signed an MOU for the construction of an integrated electric battery factory from upstream to downstream," Bahlil said.
"Mines, smelters, precursors, cathodes, cars to recycling facilities will be built in Indonesia," he said, adding that the project will be located in North Maluku and Central Java.


Under the MOU, at least 70 per cent of the nickel ore used to produce the EV batteries must be processed in Indonesia, he said.
Indonesia aims to start processing its rich supplies of nickel laterite ore for use in lithium batteries as part of a bid to eventually become a global hub for producing and exporting EVs.
Indonesia said earlier this month that US automaker Tesla will send delegations to Indonesia in January to discuss potential investment in a supply chain for its electric vehicles.

Indonesia says US$9.8 billion EV battery MOU agreed with LG Energy Solution

JAKARTA: Indonesia and a unit of South Korean firm LG Group have signed a memorandum of understanding (MOU) on a US$9.8 billion electric vehicle (EV) battery investment deal, the head of Indonesia's Investment Coordinating Board said on Wednesday (Dec 30).The deal was signed on Dec 18 and include

www.channelnewsasia.com

 

[Madokafc]

Another 1.8 million doses of Sinovac vaccine arrive from China​

31st Dec 2020 15:12

Jakarta (ANTARA) - Some 1.8 million doses of the COVID-19 vaccine ordered from China's Sinovac Biotech Ltd arrived at the Soekarno-Hatta International Airport in Tangerang, Banten, on Thursday.

The vaccine doses, transported aboard a Garuda Indonesia aircraft, were the second batch of Sinovac's vaccine to have arrived in the country after the delivery of the first consignment of 1.2 million doses on December 6.

"Alhamdulillah (thank God), today, 1.8 million doses of the vaccine from Sinovac arrived in Indonesia, and this vaccine will be sent to Bio Farma in Bandung for safe storage in accordance with the WHO standards of vaccine storage," Foreign Affairs Minister Retno Marsudi noted at the Soekarno-Hatta International Airport on Thursday.

The minister remarked that another 15 million doses of bulk vaccines from Sinovac will arrive in the near future and will be manufactured by state-run vaccine maker PT Bio Farma.

In addition to Sinovac, the government has searched for other sources of the vaccine.

"Indonesia has signed a commitment to supply 50 million doses of the vaccine from the US company Novavax that used the sub-recombinant protein platform and 50 million doses from British company AstraZeneca that used the viral factor platform," she revealed.

AstraZeneca's vaccine has received emergency use authorization (EUA) from the UK's Medicines and Healthcare Product Regulatory Agency (MHRA).

"This is good news for us because MHRA is a regulator that has in place a reliance mechanism with the BPOM, Indonesia's Food and Drug Control Agency. With this mechanism, EUA issuance for AstraZeneca will be easier, as it could be used as a basis and review to issue EUA in Indonesia," Marsudi elaborated.

Indonesia has ordered the COVID-19 vaccine from various sources: 125 million doses from China's Sinovac Biotech Ltd; 100 million doses of US-Canada's Novavax; 100 million doses from British AstraZeneca; 100 million doses from Germany-US' Pfizer; and 16-100 million doses of free vaccine from Global Alliance for Vaccines and Immunization (GAVI) as part of a multilateral cooperation. Related news: Indonesia buys 100 mln COVID vaccine doses from AstraZeneca, Novavax
Related news: Govt prepares 426 million doses for vaccine program

EDITED BY INE

Translated by: Desca L Natalia, Sri Haryati
Editor: Suharto

Another 1.8 million doses of Sinovac vaccine arrive from China

Some 1.8 million doses of the COVID-19 vaccine ordered from China's Sinovac Biotech Ltd arrived at the Soekarno-Hatta International Airport in Tangerang, ...

en.antaranews.com

 

[Madokafc]

Electric-vehicle battery producing plant project to commence in 2021​

30th Dec 2020 17:05

Jakarta (ANTARA) - Development of an electric-vehicle battery manufacturing plant will start in the first semester of 2021 after Indonesia's state enterprises consortium and South Korea's LG Energy Solution Ltd inked an agreement worth US$9.8 billion (Rp142 trillion).

The memorandum of understanding (MoU) was signed between Indonesia's Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia and LG Energy Solution in Seoul, South Korea, on December 18 and was borne witness by South Korea's Trade, Industry, and Energy Minister Sung Yun-mo.

"The investment totals US$9.8 billion or some Rp142 trillion. It is a remarkable amount because according to the BKPM data, there was no such big investment during the post-reform era," Lahadalia stated here on Wednesday.

Under the MoU, both parties agreed to develop a strategic investment project in the manufacturing of the electric-vehicle battery cell that is integrated to the mining industry, smelter, refining, precursor and cathode industry.

The state enterprises consortium comprised MIND ID (Inalum), PT Aneka Tambang, PT PLN (Persero), and PT Pertamina (Persero).

The agreement was a follow up of the bilateral meeting between Indonesian President Joko Widodo and his South Korean counterpart, Moon Jae-in, in Busan on November 2019.

The project will be developed at two locations, specifically North Maluku for the mining industry and smelter, while the manufacturing plant for the precursor, cathode, and some parts of the battery cell will be built in the Batang Integrated Industrial Area in Central Java.

Some of the produced batteries will be delivered to the country's electric vehicle plant that will start production in the near future.

"This is because Batang is a strategic industrial area to be developed. There will be a combination of foreign investor, state enterprises, national industry, national businessmen in regions, as well as small- and medium-scale enterprises," he remarked.

Lahadalia stated that development of the plant will commence in the first semester of 2021.

"The groundbreaking ceremony is expected to be held in the first semester of 2021," he noted.

According to Lahadalia, development of the integrated electric-vehicle battery industry is a concrete move in line with the government's target to boost economic transformation toward an Advanced Indonesia by 2045. Downstreaming in the mining sector is one form of the transformation.

Countries globally have begun to reduce fuel oil consumption and carbon dioxide emissions, with the utilization of electric vehicles to be increased to 15-100 percent of the total vehicles.

In 2040, the number of electric vehicles is expected to reach 49 million, or some 50 percent of the total vehicles globally. Some manufacturers have also begun to shift their conventional vehicle production line to electric vehicles.

Electric vehicles will constitute some 20-50 percent of the production.

The target of electric vehicle use is projected to increase in several countries. During 2020-2030, China has targeted to increase the utilization of electric vehicles to 8.75 million units; Thailand, 250 thousand; Vietnam, 100 thousand; Malaysia, 100 thousand; and India, 55 thousand electric cars and one million electric motorcycles.

Indonesia has targeted to use four million electric cars and 10 million electric motorcycles by 2035.
Related news: Indonesia eyes becoming key player in electric vehicle industry

Related news: Ministry prescribes circular economy route to car battery development

EDITED BY INE

Translated by: Ade Irma Junida, Sri Haryati
Editor: Fardah Assegaf

Electric-vehicle battery producing plant project to commence in 2021

Development of an electric-vehicle battery manufacturing plant will start in the first semester of 2021 after Indonesia's state enterprises consortium and ...

en.antaranews.com

 

[Madokafc]

Krakatau Steel to issue mandatory convertible bonds worth Rp3 trillion​

29th Dec 2020 18:46

Jakarta (ANTARA) - State-owned steel manufacturer PT Krakatau Steel Tbk will issue mandatory convertible bonds worth Rp3 trillion as part of efforts for realizing the national economic recovery program.

The mandatory convertible bonds will be issued all at once and disbursed in two tranches. The first tranche of the bonds, valued at Rp2.2 trillion, will be issued in one to two days, Krakatau Steel finance director Tardi said during an online public exposure here on Tuesday.

"The remaining Rp800 billion (will be issued) in 2021. With the addition of Rp2.2 trillion at the end of this year, we hope we to realize the 2021 business plan properly with a sales target of 170 thousand kilo tons per month," he informed.

The mandatory convertible bonds will have a tenure of seven years. At the end of the seventh year, the bonds will be converted into new shares under the Indonesian government’s name at Krakatau Steel through the capital increase without pre-emptive right (PMTHMETD) program or private placement.

"There will be dilution of the current public share ownership at Krakatau Steel from 20 percent to 14-15 percent. Yet, we will maintain the portion of public ownership at 20 percent. There will be subsequent corporate action to raise the portion of public ownership at Krakatau Steel," Tardi said.

Meanwhile, Krakatau Steel president director Silmy Karim said he is optimistic that the company will be able to improve its performance.

The company has been able to cut costs by up to 50 percent in the past two years, he added. (INE)


Related news: Krakatau Steel calls for governmental regulation to curb steel imports

Related news: Krakatau Steel applies restructuring program to save steel business

EDITED BY INE

Translated by: Zubi Mahrofi/Suharto
Editor: Fardah Assegaf

Krakatau Steel to issue mandatory convertible bonds worth Rp3 trillion

State-owned steel manufacturer PT Krakatau Steel Tbk will issue mandatory convertible bonds worth Rp3 trillion as part of efforts for realizing the national ...

en.antaranews.com

 

[Var Dracon]

First batch of AMMDes has been shipped from Indonesia to Nigeria in Monday, 24 December 2020. Nigeria ordered about 10.000 units of AMMDes which will be shipped gradually in 5 years.

The video of shipping:

AMMDes KMW on Instagram: "Selamat Hari Senin #sobatammdes , selamat beraktivitas diawal minggu yang cerah ini! Akhirnya KMW AMMDes yang merupakan hasil karya anak bangsa ini di ekspor pada Senin, 24 Agustus 2020 lalu ke Nigeria Ekspor perdana KMW A

89 likes, 0 comments - ammdeskmw on August 30, 2020: "Selamat Hari Senin #sobatammdes , selamat beraktivitas diawal minggu yang cerah ini! Akhirnya KMW AMMDes yang merupakan hasil karya anak bangsa ini di ekspor pada Senin, 24 Agustus 2020 lalu ke Nigeria Ekspor perdana KMW AMMDes ini meliputi...

www.instagram.com

 

[Madokafc]

State spending realization for 2020 fiscal year is around 186 Billion US Dollar (1 US Dollar for 13900 rupiah)

State spending up 12.2% in 2020: minister​

6th Jan 2021 20:48

Jakarta (ANTARA) - Minister of Finance Sri Mulyani Indrawati said that state spending grew 12.2 percent (yoy) to Rp2,589.9 trillion as of December 31, 2020 from Rp2,309.3 trillion last year.

The realization was pegged at 94.6 percent of the revised State Budget target of Rp2,739.2 trillion set under the Presidential Decree 72/2020, she informed.

"State spending has increased to accommodate all the handling of the pandemic and economic recovery," she said at the KiTa State Budget press conference in Jakarta on Wednesday.

The expenditure realization of Rp2,589.9 trillion comprised central government expenditure of Rp1,827.4 trillion, which reached 92.5 percent of the target of Rp1,975.2 trillion, with Ministry (K) / Institution (L) expenditure of Rp1,055 trillion and non-K / L realization of Rp772.3 trillion.

Related news: Economic recovery, public prioritized in 2021 government spending

K / L spending reached 126.1 percent of the target of Rp836.4 trillion set under the Presidential Decree 72/2020, while the realization of non-K / L expenditure touched 67.8 percent of the target of Rp1,138.9 trillion.

K / L expenditure comprised personnel expenditure of Rp244.6 trillion, or 95.3 percent of the target of Rp256.6 trillion in the Presidential Decree 72/2020. It showed a contraction of 1.8 percent (yoy) compared to last year, when it was recorded at Rp249.2 trillion.

Meanwhile, goods expenditure reached Rp416.5 trillion, or 153.3 percent of the target of Rp271.7 trillion under the Presidential Decree 72/2020, and showed a growth of 24.7 percent (yoy), which was influenced by refocusing and reallocation policies that made goods spending more efficient.

Capital expenditure realization reached Rp188.8 trillion, reflecting a growth of 6.2 percent, because it supported the handling of COVID-19 and economic recovery (PEN), such as the construction of central health facilities and infrastructure as well as supporting national strategic projects in land acquisition.

Social assistance expenditure reached Rp205.1 trillion, or 120.1 percent of the target of Rp170.7 trillion set under the Presidential Decree 72/2020, and it grew to 82.3 percent year-on-year because it was pushed to provide protection to people affected by COVID-19.

Meanwhile, the realization of transfers to regions and village funds (TKDD), which are also components of state spending, amounted to Rp762.5 trillion, or 99.8 percent of the target of Rp763.9 trillion set under the Presidential Decree 72/2020.

The realization of TKDD consisted of transfers to regions, which reached Rp691.4 trillion and village funds amounting to Rp71.1 trillion.

Related news: State spending grew 15.5 percent as of September 2020








Translated by: Astrid Habibah, Azis Kurmala
Editor: Rahmad Nasution

State spending up 12.2% in 2020: minister

Minister of Finance Sri Mulyani Indrawati said that state spending grew 12.2 percent (yoy) to Rp2,589.9 trillion as of December 31, 2020 from Rp2,309.3 ...

en.antaranews.com

 

[Madokafc]

Toyota to produce HEV vehicles in Indonesia by 2022, that's inline with their near future Investment commitment in which around 28 trillion rupiah or 2 Billion US Dollar for more assembly lines, production facilities and research Department in Indonesia

50 tahun di Indonesia, Toyota siapkan produksi dan ekspor HEV​

Rabu, 6 Januari 2021 17:38 WIB
Oleh Alviansyah Pasaribu

Jakarta (ANTARA) - Toyota Indonesia yang memasuki usia 50 tahun berkiprah di industri otomotif nusantara menunjukkan komitmen "Mobility Happines for All" untuk memproduksi dan mengekspor mobil hybrid electric vehicle (HEV) pada tahun 2022.

Melalui "Mobility Happines for All", Toyota Indonesia berkomitmen untuk memberikan solusi mobilitas terbaik bagi masyarakat Indonesia di masa kini dan di masa depan, sesuai dengan kebutuhan dan tren yang terus berkembang.

"Berkembang dari perusahaan mobil menjadi perusahaan mobilitas, kami berkomitmen menciptakan Mobility Happiness for All, dimana kami tidak hanya menghadirkan ever-better cars, namun juga layanan Total Mobility Solution yang tentunya sesuai dengan tren dan kebutuhan masyarakat yang terus berkembang sehingga kami senantiasa menjadi bagian dari solusi mobilitas di Indonesia, dari saat ini hingga nanti,” kata President Director PT Toyota-Astra Motor, Susumu Matsuda, dalam siaran pers dikutip Rabu.

Baca juga: Lima merek otomotif penjualan tertinggi di Indonesia

Baca juga: Ruang digital jadi "showroom" baru di tengah pandemi

Lahirnya Toyota Indonesia bermula dari upaya memenuhi kebutuhan transportasi masyarakat pada era 1970-an. Dimulai dengan impor, Toyota Indonesia kemudian berkembang hingga mampu menambah perannya dengan memproduksi mobil di nusantara.

Didukung lima pabrik manufaktur mobil dan mesin, Toyota Indonesia berhasil dipercaya menjadi salah satu basis produksi (hub) di pasar Asia-Pasifik sehingga dapat mengekspor produk buatan dalam negeri ke lebih dari 80 negara di Asia, Afrika, Amerika Latin, Karibia, dan Timur Tengah.

“Kami bersyukur dapat menjadi bagian dari perkembangan sosial-ekonomi serta industri otomotif di Indonesia selama 50 tahun. Berkat kepercayaan yang diberikan oleh masyarakat serta dukungan dari Pemerintah Indonesia, Toyota Indonesia dapat berkembang menjadi salah satu pusat produksi dan ekspor di Asia-Pasifik ke pasar global," kata President Director PT Toyota Motor Manufacturing Indonesia, Warih Andang Tjahjono.

"Ke depan, kami berkomitmen untuk terus turut serta secara aktif dalam pengembangan industri otomotif Indonesia dan menambah kandungan lokal melalui pendalaman industri hulu, termasuk produk berteknologi tinggi yang berbasis elektrifikasi untuk turut mendukung program pemerintah dalam menurunkan emisi dan sekaligus memenuhi kebutuhan masyarakat Indonesia yang terus berkembang,” ujar Warih.

Dalam beberapa dekade terakhir, teknologi dalam industri otomotif di Indonesia telah mengalami kemajuan pesat. Hal ini memotivasi sekaligus memberi ruang yang lebih luas kepada Toyota Indonesia untuk menghadirkan deretan produk yang dapat memenuhi beragam kebutuhan mobilitas masyarakat.

Lebih dari 20 line up kendaraan yang terdiri beragam jenis mulai dari MPV, SUV, Hathback, Sedan, Commercial, hingga Sport tersedia sebagai kesatuan pilihan produk yang lengkap bagi masyarakat Indonesia.

Mobil Ramah Lingkungan
Sejak tahun 2009, Toyota Indonesia telah memperkenalkan Toyota Prius sebagai kendaraan Hybrid Electric Vehicle (HEV) yang ramah lingkungan berkat teknologi mesin berbasis elektrifikasi sehingga menghasilkan emisi yang lebih rendah dan meningkatkan efisiensi bahan bakar.

Hingga kini, Toyota Indonesia telah memasarkan 10 line up kendaraan berteknologi elektrifikasi yang terdiri dari 8 Hybrid Electric Vehicle (HEV), 1 Plug-in Hybrid Electric Vehicle (PHEV), dan 1 Battery Electric Vehicle (BEV).

Baca juga: Toyota rilis mobil listrik berpenumpang dua orang

Toyota Indonesia bersama rantai pasok juga telah bersiap untuk memproduksi model HEV yang ditujukan untuk pasar ekspor, selain domestik, pada tahun 2022.

“Kami juga berkomitmen untuk senantiasa menghadirkan beragam layanan solusi mobilitas baru yang untuk mewujudkan Mobility Happiness for All. Tidak hanya dengan terus menghadirkan teknologi elektrifikasi yang lengkap untuk dipilih sesuai kebutuhan pelanggan, mulai dari Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), dan Battery Electric Vehicle (BEV), tapi juga membangun ekosistem untuk memberikan kesempatan bagi masyarakat agar dapat merasakan pengalaman bermobilitas dengan kendaraan elektrifikasi,” kata Vice President Director PT Toyota-Astra Motor, Henry Tanoto.

Logo
Semangat menghadapi tantangan mobilitas tercermin pada desain logo ulang tahun ke 50 Toyota Indonesia. Menggunakan angka 50 sebagai lambang dominan, logo itu terbagi dalam empat bagian.

Pertama, pada bagian bawah terdapat lambang nilai dasar Toyota Indonesia yaitu customer first yang selalu siap memberikan layanan mobilitas secara menyeluruh dan mengedepankan ekspektasi pelanggan.

Selanjutnya di tengah, terdapat dua bagian yang melambangkan semangat yang menjadi dasar pengembangan produk dan layanan Toyota. Beyond Technology yang berada di bagian kiri didominasi warna biru sebagai lambang komitmen Toyota Indonesia untuk selalu mengedepankan teknologi canggih dan ramah lingkungan seperti mobil berteknologi elektrifikasi.

Sementara pada bagian kanan berupa siluet bendera merah putih beserta wajah seseorang yang mencerminkan pentingnya peran masyarakat Indonesia sebagai rekan terbaik bagi Toyota Indonesia untuk terus bertumbuh kembang bersama dalam menghadirkan kualitas solusi mobilitas yang lebih baik.

Pada atas, terdapat siluet mobil Toyota dengan dominasi warna biru yang melambangkan semangat Toyota Indonesia dalam mengembangkan dan menghadirkan Beyond Product sebagai bagian solusi mobilitas masa depan.

“Melalui logo ini kami ingin menyampaikan semangat kami dalam menyediakan solusi mobilitas dan mengembangkan industri otomotif tanah air bersama seluruh masyarakat Indonesia dan pemerintah,” ujar Vice President Director PT Toyota Motor Manufacturing Indonesia, Edward Otto Kanter.

Baca juga: Industri otomotif AS optimistis tatap 2021

Baca juga: Toyota masih pimpin pasar, kuasai 31,9 persen penjualan mobil nasional

Baca juga: Pasar mobil diperkirakan tetap tumbuh, kuartal I bakal lebih baik
Oleh Alviansyah Pasaribu
Editor: Maria Rosari Dwi Putri
COPYRIGHT © ANTARA 2021

50 tahun di Indonesia, Toyota siapkan produksi dan ekspor HEV

Toyota Indonesia yang memasuki usia 50 tahun berkiprah di industri otomotif nusantara menunjukkan komitmen "Mobility Happines for All" untuk ...

m.antaranews.com

 

[Madokafc]

State firms ink agreement to build paracetamol raw material plant​

13 minutes ago

Jakarta (ANTARA) - State-run pharmaceutical firms PT Kimia Farma Tbk (Persero) and PT Kilang Pertamina Internasional (PT KPI) signed a cooperation agreement to produce raw material for paracetamol to support self-reliance in the national pharmaceutical industry.

The two state-run companies have inked a Head of Agreement (HoA) on a business cooperation scheme based on the joint study encompassing the supply of benzene as raw material, off-take plan, transaction scheme and commercial evaluation, and project development strategy.

Deputy Minister of State Enterprises Pahala Nugraha Mansury, in a statement here on Friday, lauded the cooperation to build a pharmaceutical plant to produce raw material for paracetamol, with an annual capacity of 3,800 tons.

Mansury noted that the cooperation is expected to support the domestic pharmaceutical industry's self-reliance, as currently some 95 percent of the medicine raw material was imported.

"We can learn from the COVID-19 pandemic that health is an inseparable capital to recover the national economy. However, we have to understand that until now, 95 percent of the medicine raw material was still imported," Mansury stated.

PT KPI is a sub-holding of state-run oil company PT Pertamina in the refinery and petrochemical sector.

President Director of Pertamina Nicke Widyawati remarked that under the cooperation, benzene and propylene produced from its Refinery Unit IV in Cilacap will be processed further into para aminophenol (PAF) as raw material of the pharmaceutical products, including paracetamol.

"The cooperation will boost synergy and collaboration among state-run enterprises in the areas of business, research and technology, and professional human resource development," she noted.

Support from all stakeholders is deemed necessary to create a conducive ecosystem for development of the petrochemical and pharmaceutical industry.

Director of Digital Healthcare PT Bio Farma (Persero) Solehudin Al Ayubi noted that the holding company in the pharmaceutical industry had designed the roadmap to reduce imports of raw material.

It has improved the value chain ecosystem in the healthcare industry through establishment of the medicine raw material firm PT Kimia Farma Sungwun Pharmacopia.
Related news: Govt readies tax breaks for pharma research
Related news: Ministry backs local content certification of pharmaceutical products EDITED BY INE



Translated by: Zubi Mahrofi, Sri Haryati
Editor: Suharto

State firms ink agreement to build paracetamol raw material plant

State-run pharmaceutical firms PT Kimia Farma Tbk (Persero) and PT Kilang Pertamina Internasional (PT KPI) signed a cooperation agreement to produce raw ...

en.antaranews.com

 

[Madokafc]

 

[Madokafc]

Economic contraction drags down tax receipts​

7th Jan 2021 00:17

Jakarta (ANTARA) - Indonesia's tax receipts fell 19.7 percent to Rp1,070 trillion in 2020 from Rp1,332.7 trillion in 2019 due to the economic contraction and provision of tax incentives to COVID-19 affected citizens, Finance Minister Sri Mulyani Indrawati said.



"This caused several revenues to have been foregone or to be borne by the government because it is aimed at providing room to the public," she said at an online press conference on the realization of the 2020 state budget here on Wednesday.



The tax receipts of Rp1,070 trillion represented 89.3 percent of the target of Rp1,198.8 trillion set under Presidential Regulation No. 72 of 2020, she informed.



All types of tax receipts from oil and gas as well as non-oil/non-gas sectors recorded a contraction due to the COVID-19 pandemic, she said.



Income tax receipts from oil and gas in 2020 reached Rp33.2 trillion, a decline of 43.9 percent compared to Rp59.2 trillion a year earlier.



Meanwhile, non oil/non-gas tax receipts contracted 18.6 percent to Rp1,036.8 trillion from Rp1,273.5 trillion in the year-ago period.



The pandemic also posed a special challenge for the Directorate General of Taxation since 22 tax officers died of the infection. In total, 39 employees within the Finance Ministry died of COVID-19.



So far, the Finance Ministry has reported 1,171 confirmed COVID-19 cases.



"Under this current situation, the tasks of tax officers to maintain state revenues are very challenging," Indrawati remarked.

Related news: Tax revenue dips 19.7 percent in 2020

Related news: Govt approves 211,476 applications for tax incentives



Translated by: Dewa Ketut/Suharto
Editor: Gusti Nur Cahya Aryani

Economic contraction drags down tax receipts

Indonesia's tax receipts fell 19.7 percent to Rp1,070 trillion in 2020 from Rp1,332.7 trillion in 2019 due to the economic contraction and provision of ...

en.antaranews.com

 

[whatintarnation]

Just out of curiosity, do you think we'll see a serious effort by the current Indonesian government (and future potential administrations) to seriously industrialize Sumatera in the coming decades?

So far I've only seen big industrial parks pop up in Java, which is a good thing but I really think that in order for us to truly move up in the industrial ladder, a massive industrialization program of Sumatera must be attempted.

Just imagine, Sumatera can be to us what the Ruhr is to the Germans.

 

[Nilgiri]

Just out of curiosity, do you think we'll see a serious effort by the current Indonesian government (and future potential administrations) to seriously industrialize Sumatera in the coming decades?

So far I've only seen big industrial parks pop up in Java, which is a good thing but I really think that in order for us to truly move up in the industrial ladder, a massive industrialization program of Sumatera must be attempted.

Just imagine, Sumatera can be to us what the Ruhr is to the Germans.

If anything java has to be the ruhr (or kanto-kansai)....it has the population density and concentration for Indonesia industry backbone.

Sumatra also is important to develop for sure....but I don't think it can be done at any big cost/impact to Java given Java really is the bulk population of Indonesia.

 

[trishna_amrta]

Just out of curiosity, do you think we'll see a serious effort by the current Indonesian government (and future potential administrations) to seriously industrialize Sumatera in the coming decades?

NOPE

So far I've only seen big industrial parks pop up in Java, which is a good thing but I really think that in order for us to truly move up in the industrial ladder, a massive industrialization program of Sumatera must be attempted.

Just imagine, Sumatera can be to us what the Ruhr is to the Germans.

NOT going to happen

 

[Madokafc]

Just out of curiosity, do you think we'll see a serious effort by the current Indonesian government (and future potential administrations) to seriously industrialize Sumatera in the coming decades?

So far I've only seen big industrial parks pop up in Java, which is a good thing but I really think that in order for us to truly move up in the industrial ladder, a massive industrialization program of Sumatera must be attempted.

Just imagine, Sumatera can be to us what the Ruhr is to the Germans.

Ruhr or Kanto plain or Delta Pearl of Indonesia is Java, especially Pantura aka Northern Coast , stretched all the way from Banten (where heavy industries like Krakatau steel, Chandra Asri petrochemical , Lotte chemical industry and so on located) toward Banyuwangi (where new industrial engineering base complex like INKA new sites and Northern Sea Boats located)

 

[schuimpjes]

Keponakan Menteri Luhut Kandidat Kuat Calon Pimpinan SWF Indonesia

Rencananya SWF bakal dimulai pada 2021 ini

www.idntimes.com

Strong possibility, the CEO for Indonesia's SWF will be Pandu Sjahrir. He is LBP's niece, but even though like that, it's ok for me, he is smart and experienced businessman.

Jebolan University of Chicago, place where the well known Milton Friedman was worked and Stanford University, you know lah Stanford.

Damn, just see the school, already make my eyes pedih.

 

[trishna_amrta]

University of Chicago, place where the well known Milton Friedman was worked and Stanford University, you know lah Stanford.

Damn, just see the school, already make my eyes pedih.

Don't look too high upon US education institutions. They only look good from the outside (far outside). The closer you get, the more stink they will smell

 

[FPXAllen]

Don't look too high upon US education institutions. They only look good from the outside (far outside). The closer you get, the more stink they will smell

Although, as usual, things have their own pros and cons, but if we're talking about education, I'm glad I'm not a U.S citizen.

Otherwise, I might still have to pay for my student loan even today.