Jakarta (ANTARA) - Acting Head of the Central Statistics Agency (BPS) Amalia Adininggar Widyasanti revealed that Indonesia's economic growth based on the Gross Domestic Product (GDP) value reached 4.95 percent year-on-year (yoy) in the third quarter of 2024. "The Indonesian economy is based on the size of Gross Domestic Product in the third quarter of 2024 at current prices of IDR 5,638.9 trillion, at constant prices IDR 3,279.6 trillion, so that Indonesia's economic growth in the third quarter of 2024 is compared to the third quarter of 2023 or on a yearly basis. -on-year grew by 4.95 percent," said Amalia Adininggar Widyasanti in Jakarta, Tuesday. (SOURCE)
Nov, 07 2024
Bandung (ANTARA) - The Regional Head of West Java Province and the district/city of Greater Bandung conducted a trial of the Bandung Square-Kota Baru Parahyangan city bus, this Monday, in order to finalize plans to develop the Greater Bandung Bus Rapid Transit (BRT) transportation system. The trial using this bus transportation tool was to assess several aspects before the BRT Bandung Raya operational, such as regarding comfort and travel time during the trip. "We, together with the regional heads in the Bandung basin or the Greater Bandung metropolitan area, tried the BRT directly and the buses were comfortable, but the travel time was not congested for an hour, I think it's quite good, just need to be strengthened. Maybe special lanes are also needed in several corridors," said the Acting West Java Governor Bey Triadi Machmudin in West Bandung, Monday. Bey said that from the planned 21 corridors when they operate later, currently there are only five corridors that are quite good, such as Dipatiukur-Jatinangor, Baleendah-BEC, Alun-alun-Padalarang, Leuwipanjang-Dago, and Leuwipanjang-Soreang. "For the initial three corridors, 56 percent were on time, so we are optimistic that this will be a useful mode of transportation, especially for residents of Greater Bandung," he said. Regarding travel time in relation to existing traffic and road width, Bey said that the BRT stops at each stop for a maximum of two minutes, and the headways are between adjacent bus units to avoid pile-ups, either on buses or at stops. In the future, said Bey, infrastructure for the Greater Bandung BRT will begin to be built in early 2025, including an operations command center for managing bus units, CCTV equipment in buses for security. "Also, an integrated payment system will be created with one payment for the entire corridor with crossing points created. The budget for infrastructure will be from the World Bank. So of course it is hoped that the people of Greater Bandung will switch to bus transportation," he said. The Greater Bandung BRT will begin construction in early 2025, then continue with phase II in 2026 and be fully operational in 2027, the corridor of which will cover the areas of West Bandung Regency, Cimahi City, Bandung City, Bandung Regency and Sumedang Regency. (SOURCE)
Nov, 05 2024
CIKARANG PUSAT - Bekasi Regency is again targeting to become the region with the highest investment realization in West Java Province in 2024. It is recorded that by the third quarter of 2024, the investment value of Bekasi Regency has reached IDR 54.134 trillion. Head of the Bekasi Regency Investment and One-Stop Integrated Services Service (DPMPTSP), Suhup, said that the West Java Provincial Government is targeting the investment value of Bekasi Regency in 2024 to be IDR 64.9 trillion. Meanwhile, the investment target for the strategic plan (renstra) at the Bekasi Regency level is IDR 50 trillion. "Yes, we are trying our best to get investors to come to Bekasi Regency to invest their capital," said Suhup, at his office, Central Cikarang Regency Government Complex, on Thursday (31/10/2024). Suhup believes that the target given by the West Java Provincial Government in the next two months will be achieved. "By the third quarter of 2024, IDR 54 trillion will have passed. We are optimistic that the target imposed by the Provincial Government on the Bekasi Regency Government of IDR 64.9 trillion, God willing, can be achieved," he explained. According to him, the benefits of high investment realization have a positive impact in line with labor absorption. Bekasi Regency ranks first in West Java in terms of labor absorption at 42,645 workers. Based on Bekasi Regency DPMPTSP data, the total investment realization for Foreign Direct Investment (PMA) is IDR. 39.363 trillion with a workforce absorption of 20,831 people. Meanwhile, Domestic Investment (PMDN) is worth IDR 14.769 trillion with a workforce of 21,814 people. He said that the investment sector with the highest value in 2024 will be in other services worth IDR 11.107 trillion, followed by the metal, machinery and electronics industry sector worth IDR 6.907 trillion, then the motor vehicle and other means of transportation industry with a value of IDR 6.094 trillion. The largest workforce absorption is in the metal, machinery and electronics industry sector which absorbs 6,215 people, the motor vehicle and other means of transportation industry with 5,791 people and the trade and repair sector absorbs 4,485 workers. "This figure is the total absorption of local workers and people from other areas who are looking for work in Bekasi Regency," he said. Suhup said that DPMPTSP continues to optimize so that investment realization in Bekasi Regency remains a favorite at the West Java provincial level by making various efforts. For example, by creating Standard Operating Procedures (SOP) that regulate licensing so that it does not take a long time and is even accelerated. Then carry out outreach to the entire company. Most recently, in 2024, the Bekasi Regency DPMPTSP launched a Regional Regulation (Perda) which regulates convenience and provides incentives to entrepreneurs. "So we are shortening the permits not only at the DPMPTSP, but also at the technical services which have been the source of complaints from entrepreneurs. We are also active in helping entrepreneurs make reports when there are difficulties. That is the factor that makes our investment the highest," he concluded. (SOURCE)
Nov, 05 2024
Kota Bandung (ANTARA) - The Department of Investment, One Stop Integrated Services (DPMPTSP) of Bandung City, West Java, noted that the realization of investment entering the Flower City in 2024 reached IDR 8.5 trillion, exceeding the target set at IDR 7.3 trillion. "As of October, the amount of investment realization entering Bandung City has exceeded 117.42 percent of the annual target that has been set," said Head of Bandung City DPMPTSP Ronny Ahmad Nurudin, in Bandung, Saturday. He revealed that until the end of the third quarter of this year, the realization of domestic investment (PMDN) actually dominated investment in Bandung City by contributing IDR 6.3 trillion, while for the foreign investment (PMA) category it reached IDR 2.2 trillion. "Most of the foreign investors' business activities are already operational, so the additional investment is not very significant," he said again. Ronny said there are several factors that make foreign and domestic investors interested in investing in Bandung City, one of which is the ease of service provided by DPMPTSP for potential investors. "We also provide OSS assistance services, Sakedap services (Licensing Facility Facilities) in sub-districts and market industry centers for micro business actors," said Ronny. Acting Regional Secretary for the City of Bandung Dharmawan said that this achievement shows an increase in the confidence of investors to invest their capital in the City of Bandung. "We ensure that investment policies can be implemented properly in accordance with applicable regulations," he said. Dharmawan said that the Bandung City Government continues to be committed to providing various conveniences for investors to maintain a positive and sustainable investment climate, so that it can boost the regional economy. "In terms of investment, the City of Bandung has Regional Regulation (Perda) Number 4 of 2022 concerning the Implementation of Capital Investment. "This regional regulation is a guide in the implementation and technical aspects of investment," said Dharmawan. (SOURCE)
Nov, 05 2024
Kabupaten Bogor (ANTARA) - Regional Secretary of Bogor Regency, West Java, Ajat Rochmat Jatnika is committed to making his region an attractive destination for investment. "We are committed to making Bogor Regency an attractive investment destination," said Ajat at the Investment Forum in Sentul, Wednesday. According to him, to achieve sustainable economic growth, investment oriented towards innovation and high technology needs to continue to be encouraged. This will strengthen the manufacturing base and create a resilient industrial ecosystem. Ajat explained, to achieve this goal, various efforts have been made, such as improving policies and regulations, accelerating the licensing process, improving the quality of human resources through training, and building infrastructure that supports industrial activities. Meanwhile, the Bogor Regency Investment and One-Stop Integrated Services Service (DPMPTSP) Irwan Purnawan noted that the investment value in the area reached IDR 12 trillion during 2023. He explained that the investment consisted of Domestic Investment (PMDN) worth IDR 8.8 trillion and Foreign Investment (PMA) of around IDR 3.16 trillion. The investment value, he said, exceeded the target set by the Bogor Regency Government, namely IDR 9 trillion. "This achievement is an achievement because it succeeded in placing Bogor Regency with the third highest investment realization in West Java Province in 2023," said Irwan. The highest realization was achieved by Bekasi Regency with total incoming investment of IDR 41.5 trillion and secondly Karawang Regency IDR 35.1 trillion. (SOURCE)
Oct, 29 2024
INILAHKORAN, Bandung - The West Java Provincial Government is now implementing a persuasive strategy because large investments are not yet in line with labor absorption. West Java Regional Secretary Herman Suryatman said that the realization of investment in West Java, which reached IDR 210.6 trillion in 2023, in fact did not have a significant impact on labor absorption. This is because the majority of investment entering West Java is for capital-intensive industries that do not require a lot of labor absorption. It is not surprising that from data from the West Java Central Statistics Agency (BPS), the number of unemployed in February 2024 is still quite high, namely 1.79 million people. There is only a decrease of 217 thousand people compared to February 2023 or around two million unemployed in West Java. "This should be balanced. The fact is that it is not as easy as imagined. Maybe the absorption capacity of the workforce is limited," said Regional Secretary Herman at Gedung Sate, Bandung City recently. Therefore, this capital-intensive industry must be overcome by creating skilled human resources (HR). What industrial needs are, must be able to be prepared by institutions that produce workers, so that they can be absorbed. "For example, for an electric car factory. I think that is very specific and requires workers who have skills," he said. Apart from that, persuasive efforts must also be made to prevent mass layoffs. The government must compromise, find solutions so that the industry will survive. "Even though we also understand, currently it is not as easy as imagined, the situation is difficult," he said. Not only that, creating a safe and comfortable ecosystem for investors is also mandatory. One of them is by making it easier to obtain business permits. "It is ensured that licensing must be as easy as possible. Faster, cheaper, easier, better and safer so that the investment ecosystem is built," said Regional Secretary Herman. Then the West Java Provincial Government, continued Regional Secretary Herman, also encouraged MSMEs. One of them is by providing capital flexibility, both through banks and BUMDs so that they can develop their businesses. "We subsidize interest. We can't get caught up in loan sharks, emok banks. We have cooperatives, BUMDes, I think many of them include BJB. We are continuing to push so that districts/cities also work together with us," he added. So he said, if layoffs must occur. At least there is an option for people, by starting entrepreneurship. The hope is that social inequality and unemployment can be reduced. "Work is not the only solution. Entrepreneurship is no less important. Everything must be worked on, the important thing is that unemployment, poverty and the Gini index fall," he stressed. (SOURCE)
Oct, 29 2024
Kabupaten Cirebon (ANTARA) - The Cirebon Regency Government, West Java, recorded investment achievements reaching IDR 1.9 trillion in the second quarter of 2024 or 58.90 percent of the target set at IDR 3.2 trillion throughout 2024. "The number of investment realizations in Cirebon Regency could approach or exceed the targets set this year," said Head of the Cirebon Regency Investment and One-Stop Integrated Service (DPMPTSP) Dede Sudiono in Cirebon, Monday. He explained that based on the realization data, investment activities in Cirebon Regency are still dominated by domestic investors (PMDN) and the rest are foreign investors (PMA). Until the second quarter of 2024, said Dede, the leather goods and footwear industry sector was the largest contributor with investment realization of IDR 161.47 billion. This was followed by the food industry which recorded an investment of IDR 161.18 billion. Apart from that, he said that investment in housing, industrial areas and offices was also recorded as quite large, reaching IDR 140.45 billion. "The trade and repair sector also made a significant contribution with an investment of IDR 84.82 billion, followed by the transportation, warehouse and telecommunications sectors which recorded realization of IDR 82.37 billion," he said. Dede said that other service sectors recorded investment of IDR 81.27 billion, while the rubber and plastic industry sector reached IDR 81.58 billion. He explained that several other sectors also recorded important contributions to investment activities in Cirebon Regency, such as the construction sector with an investment of IDR 33.93 billion, the textile industry of IDR 26.38 billion, and the metal, machinery and electronics industry of IDR 8.27 billion. "Meanwhile, the motor vehicle and other means of transportation industry sector recorded investment realization of IDR 19.83 billion. "The wood industry, chemical and pharmaceutical industries also recorded growth with investment values of IDR 3.19 billion and IDR 719.5 million respectively," he said. Dede said that with the total investment value spread across various sectors, it could encourage economic growth in Cirebon Regency and open up employment opportunities for the community. So far, DPMPTSP has recorded data on the realization of absorption of domestic workers from investment activities in Cirebon Regency as many as 6,496 people and only 18 foreign workers. "The comparison of domestic and foreign labor absorption in Cirebon Regency is around 225.55 percent," he said. Furthermore, he said that the Cirebon Regency Government continues to strive to achieve the investment target until the end of 2024 by implementing a number of policies that make the investment process easier. For example, by implementing an integrated licensing system. With this integrated licensing system, he added, investors can invest capital in various potential sectors in Cirebon Regency. According to Dede, the licensing process in Cirebon Regency can now be done digitally, which makes it easier for investors to take care of administrative requirements. “Licensing can now be done digitally. "So it makes it easier for investors to invest their capital," he said. (SOURCE)
Oct, 28 2024
KONTAN.CO.ID - JAKARTA. PT Rukun Raharja Tbk (RAJA) has prepared a strategic plan and performance outlook for the next 10 years. In order to achieve this target, RAJA has a number of strategic projects and expansion agendas to support its business growth. RAJA President Director Djauhar Maulidi said that the current main businesses, namely upstream, midstream and downstream in the oil and gas (oil and gas) sector, will still be the backbone until 2034. The contribution to RAJA's revenue from this business line is estimated to reach 60%. RAJA will encourage expansion outside the core business, including by entering the Liquefied Natural Gas (LNG) business and petrochemicals through blue ammonia. Djauhar targets RAJA to start reaping profits from the LNG and petrochemical business starting in 2028, with an estimated contribution of 30% to revenue. Furthermore, starting in 2032 RAJA wants to harvest the results of the New and Renewable Energy (EBT) business, which is estimated to contribute 10% to revenue. "So our business anatomy in 2034 or the next 10 years will be 60% from upstream, midstream and downstream as core sectors, around 30% from LNG and petrochemicals and 10% contributed from NRE," said Djauhar in a public presentation, Wednesday (16/10 ). The issuer owned by Puan Maharani's husband, Happy Hapsoro, has also prepared a number of strategic projects and priority expansion plans. RAJA Director Sumantri Suwarno explained that the agenda consists of projects that have been contracted, as well as those that are still in the process of acquisition and feasibility studies. First, the Fuel Oil (BBM) pipeline construction project in East Kalimantan. RAJA's subsidiary, PT Petrotech Penta Nusa is the leader of the consortium and has signed a contract with PT Pertamina Patra Niaga on October 4 2024. This 120 kilometer long pipeline project will connect the Tanjung Batu Balikpapan BBM Terminal (TBBM) to TBBM Samarinda and TBBM Palaran. This project, with an estimated investment of IDR 3 trillion, will begin the construction phase in the fourth quarter of 2024 and is targeted for commercial operation or Commercial Operation Date (COD) in the fourth quarter of 2026. Through Petrotech, RAJA disbursed investment with a funding participation portion of IDR 982.45 billion or the equivalent of US$ 63.29 million. After COD, this project is projected to generate annual revenue of IDR 225 billion and contribute EBITDA of IDR 200 billion per year. Second, RAJA through its subsidiary, PT Triguna Internusa Pratama, has signed an agreement with Energy Equity Epic (Sengkang) Pty. Ltd. The agreement signed on October 11 2024 is related to the rental service of a booster compression plant for the development of Kampung Baru in the Sengkang Block. RAJA will invest around US$ 28 million - US$ 30 million to work on the project which is targeted to reach COD in the fourth quarter of 2025. With a five-year contract, this project is projected to contribute around US$ 50 million to RAJA's revenue. Third, RAJA is conducting a feasibility study for the construction of an LNG Terminal. Sumantri has not provided details regarding investment details, development plans and strategic partners in this project. However, he emphasized that the LNG Terminal is an important project to capture the prospects for LNG demand in the Java region. "We are still carrying out feasibility studies to see the right location, market studies and potential supply studies that will be absorbed to serve demand. West Java is one of the big potentials for us to choose," explained Sumantri. Fourth, RAJA and partners are conducting a feasibility study to build a gas supply facility in Kalimantan. Sumatri has not yet revealed the details of this project. "It depends on the results of the feasibility study, because it concerns the strength of the gas supply, the level of demand and price agreements with potential buyers," he added. Fifth, RAJA is in the final stage of the process of purchasing participating interests in oil and gas blocks as well as the final stage of the process of acquiring downstream oil and gas projects in eastern Indonesia. "We are careful because we have to look at all the potential and risks that may arise from this investment decision, considering that the scale is quite large," said Sumantri. Sixth, construction of a Solar Power Plant (PLTS). RAJA together with partners from the Middle East participated in the PLTS tender from PT PLN (Persero) in several regions. RAJA looked at four potential areas in Yogyakarta, Central Java, West Java and Banten. Sumantri targets RAJA to be able to work on at least two locations with a capacity of around 90 Megawatts (MW) to 100 MW each. He has not disclosed regarding RAJA's partners in the construction of this PLTS, or the investment being prepared. Sumantri only provided an overview of the rule of thumb for PLTS projects, where the investment required per 1 MW is around US$ 1.5 million - US$ 2 million. So, the investment required to build a PLTS of 100 MW reaches US$ 150 million - US$ 200 million. "But regarding how much RAJA will invest, it really depends on the percentage of participation in the project, because later there will be several parties who will participate in this investment," said Sumatri. Meanwhile, for the blue ammonia project that will be worked on by RAJA, the rule of thumb investment could reach US$ 800 million - US$ 900 million to build a capacity of 700,000 metric tons per year. However, investment details will only be known when the study has been completed and entered the Final Investment Decision (FID) stage. On the other hand, in terms of performance, RAJA's revenue and net profit have steadily increased with an annual increase in revenue of 67.15% from US$ 73.89 million to US$ 123.51 million until June 2024. RAJA achieved a net profit of US$ 14, 29 million in semester I-2024, or a growth of 55.32% compared to a profit of US$ 9.20 million in the same period last year. Director of Rukun Raharja, Ogi Rulino, revealed that RAJA's income comes from sustainable sources, namely from long-term contracts with an average duration of 10 years. "So (positive performance) will continue in the future. It is not cyclical, fluctuating depending on commodity prices, but it is solid and sustainable," stressed Ogi. Meanwhile, Djauhar gave an idea that performance in the third quarter of 2024 tended to be stable compared to the previous two quarters. Djauhar also estimates that RAJA's performance will be stable in the fourth quarter of 2024. "Hopefully it can be stable (until the end of the year), so that we can achieve better growth than last year," said Djauhar. In terms of stock movements, RAJA closed trading Wednesday (16/10) with a gain of 5.39% to the level of IDR 1,955 per share. Year to date, RAJA has accumulated an increase of 38.65%. (SOURCE)
Oct, 17 2024
Jakarta, CNBC Indonesia - Two upstream oil and gas (oil and gas) contracts, namely for the Working Area (WK) or Amanah Block and Melati Block, were officially signed on Monday (14/10/2024). The two oil and gas block contracts have an initial investment value in the form of a Firm Commitment from the Cooperation Contract Contractor (KKKS) reaching US$ 15.85 million or around Rp. 246.5 billion (assuming an exchange rate of Rp. 15,555 per US$). The signing of the Cooperation Contract (PSC) was carried out by the Head of SKK Migas Dwi Soetjipto and each KKKS at the Indonesia Exploration Forum 2024 in Surabaya, East Java, Monday (14/10/2024). This event was also witnessed by the Acting Director General of Oil and Gas, Ministry of Energy and Mineral Resources, Dadan Kusdiana. "This signing adds to the government's achievements in getting investors in upstream oil and gas business activities to encourage oil and gas exploration activities in Indonesia," said Dadan. Dadan said that the investment value of the Definite Commitment in WK Amanah was US$ 3,150,000 and WK Melati was worth US$ 12,700,000, so that the two WKs received a total definite commitment of up to US$ 15,850,000, with signature bonuses for each. US$ 300,000 and US$ 200,000 respectively. Amanah and Melati WKs are the results of the 2024 Phase I Oil and Gas WK Auction which was offered through a Direct Bidding Auction mechanism. The operator or manager of WK Amanah is PT Medco Energi Amanah (Operator), and other participating rights holders are PT Sele Raya Sejati and KUFPEC Indonesia (Amanah) B.V. Meanwhile, the manager of the Melati WK is PT Pertamina Hulu Energi Sulawesi Melati (Operator), and other participating rights holders are SIEI Melati Limited and KUFPEC Indonesia (Amanah) B.V. From the signing of this Cooperation Contract, WK Amanah took the form of a geological and geophysical (G&G) study activity as well as acquisition and processing of 50 km2 of 3D seismic data. Meanwhile, for WK Melati, the definite commitment is in the form of two G&G studies, acquisition and processing of 200 km2 of 3D seismic data, as well as acquisition and processing of 250 km2 of 2D seismic data. "This shows that the upstream oil and gas industry in Indonesia still has great opportunities, and remains attractive for investment. Improvements in regulations carried out by the Government also support a better investment climate for investors, including tax facilities, incentives or terms and conditions in offers," added Dadan . Dadan hopes that the signing of 2 Oil and Gas Cooperation Contracts with the Cost Recovery scheme will have a positive impact on the oil and gas exploration climate in Indonesia. Also, adding Cooperation Contracts from 2020 to 2024 to a total of 23 New Cooperation Contracts. (SOURCE)
Oct, 17 2024
In the last decade, the Indonesian economy has continued to perform well, demonstrated by the success of maintaining economic growth at a good level, especially after the pandemic ended. In fact, based on World Bank projections, Indonesia is expected to grow in the range of 5%-5.2% in the 2024-2025 period or return to the same or higher growth rate as before the pandemic. Inflation developments are also under control within the target range, where until September 2024 it will be at the level of 1.84% (yoy), which can be said to be maintained at around 2.5% ± 1%. The low and stable inflation rate is in line with increasing growth in shopping volumes. This shows that people's purchasing power remains strong, thus supporting the momentum of economic growth. The deflation phenomenon that occurred for five consecutive months was also more influenced by the decline in prices of a number of food commodities. "Core inflation is in line with the trend, but volatile foods have been reduced to low levels. The government meets every week, because we have a different way than other countries, to regulate inflation levels throughout Indonesia. "We also provide fiscal incentives for them to maintain food prices," explained Coordinating Minister for Economic Affairs Airlangga Hartarto when giving a keynote speech at HSBC's 140th Anniversary Celebration in Indonesia, in Jakarta, Tuesday (15/10). The condition of the Indonesian financial market is relatively stable. The performance of the Rupiah exchange rate is relatively better than a number of other Asian countries, namely -1.05% (ytd). The Indonesian stock price index also grew positively, namely 3.94% (ytd) and reached its highest position or all-time high at the level of 7,905.39 on September 19 2024. "No one thought that Indonesia could maintain the value of the Rupiah below IDR 16 thousand per 1 USD compared to (perception) three months ago, and this is an achievement for the Indonesian economic team," explained Coordinating Minister Airlangga. With these various good achievements, investors still see Indonesia as an attractive country. Latest, Rating and Investment Information, Inc. (R&I) affirmed the Republic of Indonesia's Sovereign Credit Rating (SCR) at BBB+, two levels above investment grade with a positive outlook. Indonesia's competitiveness ranking continues to increase to its highest position in 10 years (27th in 2024 based on the IMD World Competitiveness Ranking). Indonesia focuses on providing easy investment in 22 Special Economic Zones (KEK) spread throughout Indonesia. Apart from that, there is promising potential for investment in the Carbon Capture Storage (CCS), semiconductor, green hydrogen and Small-Modular Reactors (SMRs) sectors in Indonesia. To accelerate growth in the medium to long term, the government has prepared a new engine of growth strategy such as digitalization, energy transition and semiconductors. Apart from that, social resilience and community empowerment are also priorities. The banking industry, especially banks with international networks such as HSBC, plays an important role in supporting efforts to encourage the flow of foreign investment into the country. The good program that HSBC has carried out, namely creating investor connectivity with domestic business actors, must continue to be maintained. “The conditions (conflicts in) the Middle East and Russia-Ukraine make everything (international trade) not easy because they are interrelated. And also this is a different situation today, especially because there is technological disruption, it is more complex so you need the help of 'friends' to navigate into the future. (That friend) is like HSBC, so I want HSBC to be in Indonesia in the next 140 years too," concluded Coordinating Minister Airlangga. Also present at this event were Group Chairman of HSBC Holdings plc Mark Tucker, Co-chief Executive of Asia Pacific HSBC Surendra Rosha, President Director of PT Bank HSBC Indonesia Francois de Maricourt, and Ambassadors of friendly countries. (SOURCE)
Oct, 17 2024
TIMES JABAR, BEKASI – West Java Regional Office of the Ministry of Law and Human Rights (Kemenkumham Jabar) held an outreach on the Golden Visa program in Bekasi. This event is a follow-up to the launch of the Golden Visa program by Indonesian President Jokowi some time ago. The aim is to introduce and facilitate foreign investors and foreign workers (TKA) in taking advantage of investment and work opportunities in Indonesia. Head of West Java Regional Office of the Ministry of Law and Human Rights, Masjuno, in his speech said that the Golden Visa program was a very important breakthrough for Indonesia. "The Golden Visa will not only encourage economic growth, but also open up opportunities to improve other social aspects," he said on Friday 11 October 2024. Bekasi as Main Target Masjuno explained that the choice of Bekasi City as the location for the first socialization in West Java was not without reason. Because with many multinational companies operating in the Bekasi industrial area, the Golden Visa program is considered very relevant to attract more foreign investment. "We hope that with this socialization, more and more foreign investors will be interested in investing their capital in Bekasi and its surroundings," said Masjuno. What is a Golden Visa? The Golden Visa is a type of long-term visa that provides various conveniences for foreign citizens (WNA) who want to invest or work in Indonesia. Some of the benefits offered include: 1. Longer stay: Golden Visa holders can stay longer in Indonesia. 2. Service priority: Golden Visa holders will get priority in various services, such as inspections at Immigration Checkpoints (TPI) and services at other government agencies. 3. Ease of investing: This program is designed to facilitate foreign investors in investing their capital in Indonesia. Furthermore, said Masjuno, this golden visa program is a strategic step by the government to attract foreign investment and accelerate economic growth with the various conveniences offered. "This program is expected to attract the interest of global investors to invest in Indonesia," he said. In this socialization event, participants consisting of representatives of companies using foreign workers and foreign investors received an in-depth explanation regarding the mechanism for applying for a Golden Visa, the requirements that must be met, as well as the various benefits that can be obtained. Head of the Golden Visa Team of the Directorate General of Immigration, Wahyu Wibowo, gave an explanation regarding the technical implementation of the Golden Visa. Meanwhile, Bank Mandiri's Wealth Specialist Advisor, Riska Lavinia, also provided information regarding banking support in supporting this program. (SOURCE)
Oct, 17 2024
BOGOR - The Bogor City DPRD together with the Bogor City Government adopted the Draft Regional Regulation on Providing Incentives and Facilitation of Investment into a regional regulation at the plenary meeting, Tuesday (8/10/2024). "This Draft Regional Regulation has received facilitation from the Regional Secretariat of West Java and has made improvements in terms of consideration, weighing, legal basis and body in accordance with the latest statutory provisions," said the Spokesperson for the Regional Regulation Formation Agency (Bapemperda) of the Bogor City DPRD, Eka Wardhana in press release, Wednesday (16/10/2024). Eka explained that this draft regional regulation is intended to create legal certainty and as a guideline for providing incentives and facilitating investment to increase investment and equal development in the regions. "We hope that with this Draft Regional Regulation, economic growth in Bogor City can increase accompanied by the creation of new jobs," he said. Responding to the Bapemperda report, Acting Mayor of Bogor Hery Antasari expressed his thanks to the leadership and members of the DPRD. According to him, the presence of this regional regulation is expected to provide legal certainty. It is also used as a guideline for prioritizing the provision of incentives and/or facilitating investment for certain types of businesses or certain activities, such as micro businesses and cooperatives. "This draft regional regulation is expected to create attraction or stimulate more investors to invest in the city of Bogor in order to create a competitive investment climate, increase access and economic capabilities," he said. After listening to the Bapemperda report and the response from the Acting Mayor of Bogor, the Chairman of the Bogor City DPRD, Adityawarman Adil, made the decision to adopt the draft regional regulation as a regional regulation based on the approval of all members of the Bogor City DPRD who were present at the Plenary Meeting. "We ask the Bogor City Government to immediately formalize and compile a Perwali as a technical guideline for implementing regional regulations," he said. (SOURCE)
Oct, 17 2024
THE PROVINCIAL GOVERNMENTS (Pemprov) of West Java (Jabar) and Central Java (Jateng) have officially established border management cooperation. This cooperation between the two provinces was marked by the signing of an agreement between the West Java Regional Secretary, Herman Suryatman, and the Central Java Regional Secretary, Sumarno, in Semarang, Monday (7/10). This collaboration includes the management of a number of border segments, such as between Cirebon - Brebes Regency, Kuningan - Brebes, Kuningan - Cilacap, Ciamis - Cilacap, Banjar - Cilacap, to Pangandaran - Cilacap. Apart from maintaining social stability, this cooperation is expected to encourage economic development in border areas. Herman Suryatman emphasized the importance of this agreement to strengthen the welfare of residents in border areas. "West Java and Central Java share direct borders, and we have an interest in ensuring that economic growth in this region can be even better," he said. He also added that the social conditions of the border communities must remain conducive, so that the area can develop economically, socially and culturally. Apart from border management, the discussion also touched on optimizing Kertajati West Java International Airport (BIJB) in Majalengka, West Java. Since October 2023, this airport has started operating again after receiving a mandate from the Minister of Transportation. Currently, BIJB serves domestic flights to Denpasar, Balikpapan and Medan via Super Air Jet and Citilink, as well as international flights to Kuala Lumpur via Malaysia Airlines and Air Asia. At the end of September 2024, Scoot, a subsidiary of Singapore Airlines, held its first flight to Singapore from BIJB. This makes things easier for the people of West Java who can now more easily access the airport for passenger and cargo flights, even Umrah. "This is good news for the people of Central Java who want to perform the Umrah pilgrimage, especially for those who live in the western part of Central Java, because BIJB offers a closer and more economical alternative," added Herman. This year, BIJB has also started Hajj flights, and it is hoped that they can continue in the Hajj season next year. It is also hoped that Kertajati Airport can be a solution for migrant workers from Central Java, which is one of the largest in Indonesia, so that they can take advantage of international flight facilities that are more easily accessible. The Regional Secretary of Central Java, Sumarno, also welcomed this agreement and hoped that the existing cooperation would not just stop at the signing, but would also be followed by real action in the field. "West Java is our closest neighbor, the neighbor is the first to know if there is a problem. "This cooperation must be followed up with concrete steps for the common good," he said. Collaboration between these two large provinces is a strategic step in realizing a border region with more potential, both from an economic, social and cultural perspective. (SOURCE)
Oct, 11 2024
TIMES JABAR, JAKARTA – Minister of Communication and Information (Menkominfo) Budi Arie Setiadi revealed that serious discussions are underway between the Indonesian government and the global technology giant, Google, regarding investment in building data centers in Indonesia. This plan is considered important to ensure that user data in Indonesia can be managed in data centers located within the country, strengthening Indonesia's digital security and independence. "We hope that in the future all data used by the Indonesian people, if possible, can be managed from a data center located in Indonesia. Currently, this is under serious discussion," said Budi Arie in Jakarta, Wednesday (9/10/2024) . The government is exploring various opportunities to facilitate investment in the technology sector, especially those that support digital transformation and national data resilience. The Minister of Communication and Information emphasized that the government is ready to open access and provide convenience for strategic investments like this. Apart from discussions regarding the development of data centers in Indonesia, Google has strengthened its presence in Indonesia by inaugurating the Google Cloud Platform (GCP) Jakarta Region in 2020. This step supports the acceleration of digital transformation in Indonesia, especially with the layered architectural security applied to non-residential data centers. this government. Furthermore, Google recently announced major plans to invest one billion US dollars in Thailand by the end of September 2024, with a focus on building digital infrastructure in Bangkok and Chonburi. This move shows Google's strong interest in expanding their presence in Southeast Asia. "We are looking at potential investment from Google in the form of a data center in Indonesia. This is part of our commitment to strengthening national digital infrastructure," added Budi. With the increasing demand for cloud computing services in the Southeast Asia region, Indonesia has the potential to become one of the main destination countries for Google in expanding their investment. The Indonesian government, under the direction of the Minister of Communication and Information, continues to strive to create an attractive digital ecosystem for global technology companies, with the hope that this investment can accelerate digital transformation in the country and strengthen national data security. (SOURCE)
Oct, 11 2024
TIMESINDONESIA, BANDUNG – Realization of Receivables from the Financing Institution sector in West Java province on August 31 2024 reached IDR 79.78 trillion or positive growth of 10.63 percent (yoy), with the Non-Performing Financing (NPF) ratio still maintained at level 3.06 percent. Based on type of use, financing receivables are dominated by Multipurpose financing at 62.45 percent, followed by Investment financing at 22.81 percent and Working Capital financing at 8.77 percent. Meanwhile, from the Pension Fund sector, as of July 2024, the investment value of pension funds in West Java Province was IDR 25.42 trillion, a decrease of IDR 1.17 trillion (-4.52 percent yoy) compared to July 2023 of IDR 25.83 trillion. When compared with December 2023, the realized investment value also decreased by IDR 0.95 trillion (-3.71 percent ytd). The same thing also happened to the value of Pension Fund Company Assets in West Java Province as of July 2024, where Pension Fund Company Assets reached IDR 25.52 trillion, a decrease of IDR 1.29 trillion (-4.84 percent yoy). "In the Fintech peer-to-peer lending (P2P) sector, as of July 2024, outstanding P2P company loans in West Java Province amounted to IDR 18 trillion, an increase of IDR 2.76 trillion (18.08 percent yoy) compared to July 2023 of IDR 15, 24 trillion. When compared to December 2023, outstanding P2P loans increased by IDR 1.41 trillion (8.51 percent ytd). The quality of P2P loans in West Java Province is reflected in the 90-day Default Rate ratio (TWP90) from 4.14 percent in "In July 2023 it will be 3.09 percent in July 2024. However, the TWP90 ratio is worse compared to the national level of 2.54 percent," said Imansyah, Head of the West Java OJK, Thursday (10/10/2024). Financial Literacy and Inclusion and Consumer Protection Program According to Imansyah, until September 30 2024, the West Java Province OJK Office has held a series of financial education activities in an effort to increase public financial literacy. There were 347 activities with a total number of educational participants of 102,642 people consisting of various segments including pupils, university students, Islamic boarding school students, employees and ASN, farmers, MSMEs and people with Social Welfare Problems (PMKS), namely the Street Artists Community, as well as special segments including others. People with Disabilities, the ojol community and the general public. He also explained that one form of service from the West Java Province OJK Office to consumers and the public is through the Financial Information Service System (SLIK) information service. As of September 30 2024, a total of 33,554 SLIK services have been provided to consumers and the public in the West Java region, consisting of 22,963 SLIK requests directly (walk-in) and 10,591 online SLIK requests. Imansyah provided information that in an effort to eradicate illegal financial activities, from January 1 to September 24 2024, OJK had received 12,733 complaints regarding illegal entities. Of this total, 12,021 complaints were regarding illegal online loans and 712 complaints were related to illegal investments. The number of illegal entities that have been stopped/blocked is 1,459 (Illegal Investments) from 2017 to September 2024. Next are Illegal Loans at 9,180 in the same year span, then illegal mortgages at 251. And the total that has been stopped is 10,890 from 2017 to September 2024. According to the Head of the West Java OJK, in order to enforce consumer protection provisions, the OJK has imposed sanctions through the Task Force for Eradicating Illegal Financial Activities (Satgas PASTI) in the period January to 23 September 2024 to find and stop 2,500 illegal online loan entities and 241 illegal investment offers in a number of sites and applications that have the potential to harm society. Furthermore, the PASTI Task Force has received information regarding 228 bank accounts or virtual accounts that were reported to be related to illegal financial activities. He also explained that in connection with this matter, the PASTI Task Force submitted a blocking request to the bank supervisory work unit at the OJK and then immediately ordered the relevant banks to carry out the blocking. Imansyah informed that apart from blocking bank accounts or virtual accounts, the PASTI Task Force also found contact numbers for debt collectors related to illegal online loans who were reported to have carried out threats, intimidation or other actions that were contrary to the provisions. Apart from that, due to these conditions, the PASTI Task Force has proposed blocking 995 contact numbers to the Ministry of Communication and Information of the Republic of Indonesia. "In terms of monitoring PUJK behavior (market conduct), the West Java Provincial OJK Office has enforced the provisions as regulated in POJK Number 22 of 2023 concerning Consumer and Public Protection in the Financial Services Sector, including by giving administrative sanctions to 25 (twenty five) PUJK, namely the existence of administrative sanctions in the form of fines and written warnings for late reporting; and administrative sanctions in the form of written orders regarding the results of direct/indirect supervision related to violations of consumer protection provisions, especially regarding the provision of information in advertising and product/service marketing procedures," said Imansyah. "The administration of administrative sanctions is carried out in the context of guidance so that PUJK always complies with provisions related to consumer and community protection. In the future, the West Java Provincial OJK Office will continue to pay close attention to the dynamics of the developing economy and improve its supervisory function for financial service institutions, as well as protection for consumers and community to ensure that the financial services sector's contribution to economic growth in West Java Province can continue to be maintained," concluded Imansyah closing the conversation. (SOURCE)
Oct, 11 2024
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