TRIBUNJABAR.ID, BANDUNG - Investing in renewable energy is not only a step towards sustainability, but is also a promising business opportunity. With the right policy support and technological innovation, this sector has the potential to grow significantly and make a major contribution to climate change mitigation and job creation. The decision to invest in renewable energy is a step towards a greener and more sustainable future. Renewable energy is one of the main focuses at the Bandung Regency Investment Summit 2024. Regional Assistant 2 for Economic Development of Bandung Regency, Kawalludin, assessed that meeting business people to invest is a real step to target the renewable energy sector, as well as other sectors. "This renewable energy has multiple benefits, if the use of new and renewable energy increases, the level of pollution caused by fossil energy will automatically decrease," he said, when met at the Grand Sunshine Resort & Convention, Tuesday (8/10/ 2024). He said renewable energy could replace fossil energy and be a form of effort to improve environmental problems. “This new and renewable energy provides various other environmental solutions. "For example, if we can build a waste PLTS, a power plant from waste power, this heat can generate electricity," he said. Furthermore, Kawalludin gave the example that KOHE (animal waste) can be used as electrical energy. "Through biogas it can be converted into electricity and there are several points where this is already underway, from animal waste using the biologicaster process to produce gas. "Finally we can turn on the lights," he said. In short, the new and renewable energy sector in West Java, especially Bandung Regency, has the opportunity to attract investors. "Hopefully with this meeting, investment in the development of new and renewable energy in Bandung Regency can be accelerated, there will be quite a significant increase, because the opportunities have been met," he explained. In the future, he said, Bandung Regency's economic growth will come from new and renewable energy. "All regional governments, especially Bandung Regency, are very supportive. "This is an illustration that the Bandung Regency Regional Government is opening up opportunities as widely as possible in a transparent manner, perhaps investment opportunities, especially in the new and renewable energy sector," he said. Renewable energy investment is increasingly becoming a global focus as awareness of climate change and the need to reduce dependence on fossil fuels increases. Renewable energies, such as solar, wind and biomass, offer cleaner and more sustainable solutions to meet the world's energy needs. Despite the potential for large profits, renewable energy investments also face several challenges, such as high initial capital, intermittency, and regulations that affect the sustainability of the investment. Nevertheless, investment in local energy sources can reduce dependence on fuel imports, increasing a country's energy security. (SOURCE)
Oct, 09 2024
TRIBUNJABAR.ID, BANDUNG - The matching business of business actors in Bandung Regency at the Bandung Regency Investment Summit 2024 continues to be discussed in order to be able to attract investors from abroad and within the country. Throughout 2024, the investment target in Bandung Regency will reach 8.9 trillion. Various sectors ranging from agriculture, tourism to renewable energy to advance investment sustainability. The Acting Regent of Bandung, Dikky Achmad Sidik, said that the Bandung Regency Investment Summit 2024 was one of the Bandung Regency Government's strategies to attract investors. "In terms of existing data, Bandung Regency is in the seventh position for realization in West Java. "There is an increase and we must continue to develop the existing potential," he said, at the Grand Sunshine Resort & Convention, Monday (7/10/2024). He said that Bandung Regency's advantages from abundant natural resources, including the tourism sector, have increased rapidly in recent years. "This opportunity needs to be pushed strategically so that it develops further and is expected to have an impact on community economic activities," he said. Dikky said, even though he is currently faced with the 2024 regional elections, his party is optimistic that investment realization in Bandung Regency can increase. Apart from that, his party is encouraging investment sectors to continue to be added, for example the manufacturing sector. "We will refer to spatial planning, and manufacturing activities need to be developed in special areas so that they can focus on industry. "Even though some already exist, they will still be encouraged and don't forget that this industry is not only capital intensive, but also labor intensive to attract workers," he explained. In the same place, Chairman of the Bandung Regency DPRD, Renie Rahayu Fauzi, said that in the near future he would create a new policy so that investors from outside and inside would target Bandung Regency. “Hopefully it can continue, okay? Because of the great opportunities in terms of tourism, the investment challenges here in terms of infrastructure, in some areas are already good and supportive. "Hopefully there will be new policies with the new regent and tourism here will develop and increase interest in investing," explained Renie. (SOURCE)
Oct, 09 2024
Jakarta (ANTARA) - An international class joint Indonesia-China research laboratory for New Energy Materials and Metallurgical Engineering Technology resulting from a collaboration between the Bandung Institute of Technology (ITB), GEM and Central South University (CSU) is ready to operate in Bandung, West Java. In an official statement received by ANTARA on Friday, this laboratory will have two experimental engineering research centers (Hydrometallurgical Engineering Technology Research Center and New Energy Materials Engineering Technology Research Center) plus 12 research laboratories with a total investment of up to 30 million US dollars or the equivalent of IDR 464.1 billion. "Through this joint laboratory collaboration, the Bandung Institute of Technology will become a center of excellence in education, research and development, as well as innovation in the field of circular economy and sustainable development, as well as becoming a center of excellence in the Province of West Java and Indonesia," said the Chancellor of the Bandung Institute of Technology (ITB ) Reini Wirahadikusumah. To top it all off, this laboratory is also equipped with more than 300 sets of the world's latest generation equipment, and is the world's first level engineering testing and research center for metallurgical technology and new energy materials research. With the presence of various advanced technologies in this laboratory, various companies will be able to effectively complete key technological research from the entire industrial chain of mineral resource extraction, synthesis of new energy materials, resource recycling and environmental management, and have the conditions and capabilities to cultivate students high-level master's and doctoral programs.The Coordinating Minister for Maritime Affairs and Investment who also acts as Chair of Indonesia's Cooperation with China, Luhut Binsar Pandjaitan, explained that this facility is important for building cooperation between Indonesia and China in building sustainable industry."The establishment of this joint laboratory comes at the right time and is an important practice to realize discussions between the Indonesian and Chinese governments, in strengthening industrial talent cooperation between China and Indonesia's main partners, which is very important for improving the quality of human resources and innovative research," he said. He also said that this facility, which has sophisticated equipment, could be used to produce outstanding figures who are committed to the welfare of Indonesian society through providing employment opportunities."It is hoped that in the near future, Indonesia will see the emergence of figures such as Professor Xu Kaihua, who are not only committed to research and innovation, but also to business success and improving the welfare of the Indonesian people through providing employment opportunities," he said.For information, the China-Indonesia joint research laboratory, which carries the Bandung spirit of "Unity, Friendship and Cooperation" as well as the principles of the "Belt and Road" Initiative, aims to become a flagship project for China-Indonesia technological cooperation and cultural exchange.In addition, the presence of this facility is also expected to be at the forefront of the Belt and Road 2.0 model, and contribute a brilliant new chapter to the global community for a shared future through the international expansion of Chinese companies. (SOURCE)
Oct, 09 2024
TIMES JABAR, BANDUNG – Bank Indonesia (BI) is optimistic that West Java's economic growth will still meet the target in the range of 4.6% to 5.4% in 2024. Global geopolitical challenges and declining purchasing power are the main concerns by encouraging the investment, export and digitalization. Deputy Head of the West Java Bank Indonesia Representative Office, Muslimin Anwar, said that West Java's economic growth in the second quarter of 2024 was recorded at 4.95% (year on year/yoy), higher than the previous quarter which grew at 4.93% (yoy). . This growth was driven by increased domestic consumption, improved export activity and increased investment. Sectors that contribute greatly to economic growth include the agricultural sector, processing industry, transportation, warehousing and trade. "West Java's economy is expected to continue to grow positively in the range of 4.6% to 5.4%, driven by strong domestic demand, increased community mobility, and infrastructure support that continues to develop," said Anwar at the Road to West Java Discussion event Journalist Competition (WJJC) 2024 is the result of collaboration between Bank Indonesia West Java and the Bandung Journalists Discussion Forum (FDWB) in Bandung, Saturday (5/10/2024). However, Anwar explained, there are several challenges that must be anticipated, including global uncertainty which has an impact on export demand, as well as potential disruption in the agricultural sector due to the El Nino phenomenon. However, he continued, BI is optimistic that the policies implemented, such as industrial downstreaming and accelerated digitalization, will have a positive impact on the economy of West Java. One positive indicator of the West Java economy is controlled inflation. Until September 2024, West Java recorded inflation of 2.09% (yoy). West Java's annual inflation target of 2.5% is still on track. "Bank Indonesia will continue to strengthen synergies with various parties to maintain economic stability and support sustainable growth in West Java, one of which is maximizing the role of the TPID (regional inflation control team)," he said. From the investment sector, Anwar revealed that West Java investment realization in the second quarter of 2024 reached IDR 63.7 trillion. This achievement makes West Java the province with the highest investment realization in Indonesia. The processing industry, information communications and real estate sectors are the sectors most in demand by investors, with Japan, South Korea and Singapore as the main investor countries. Anwar explained that digitalization and infrastructure are also the keys to encouraging West Java's economy to continue to grow and develop. "Digitalization has created great opportunities for economic growth. Currently, West Java has the most QRIS users nationally, which shows that digital transformation is underway," he said. In August 2024, there will be more than 11 million QRIS users in West Java. Meanwhile, the number of registered merchants reached 7.3 million, the majority of which came from micro businesses. He added that digitalization of payments not only encourages transaction efficiency, but also empowers micro and small businesses. In line with digitalization, BI West Java also emphasizes the importance of infrastructure development to support sustainable economic growth. Infrastructure such as toll roads and connectivity in the north and south of West Java, especially the Cisumdawu and Bocimi toll roads, make a significant contribution to increasing community mobility and distribution of goods. "This infrastructure project will continue to be pushed so that it can have maximum impact on the regional economy," said Anwar. The political year 2024, said Anwar, will also encourage an increase in domestic consumption driven by political activities. It is hoped that the momentum of the election will be able to support people's purchasing power, as well as strengthen the optimism of business actors after the election. "New economic development in the tourism, agricultural and other sectors is one way to face future global challenges," he concluded. Needs Synergy Between Parties Meanwhile, academic from the Faculty of Economics and Business (FEB) at Padjadjaran University (Unpad) Ari Tjahajawandita said that synergy between parties is one of the keys so that the West Java economy can continue to grow to face various challenges in the future. Ari proposed that the government can encourage and stabilize the economic sector which is already growing. Second, the government must improve the economic sector which is currently sluggish. "So what came down was to boost West Java's economic growth," said Ari. Even though West Java's economic condition is quite good, Ari believes that the government must put itself in a pessimistic position as an anticipatory step if it does not meet the target. "If we are optimistic, the fear is that we want to improve but it turns out the achievements are low," he said. Therefore, the government must be able to increase household consumption through government spending and investment. "If we want to encourage consumption, of course it must be supported by purchasing power. So the key is that purchasing power must be encouraged. There is also government spending, company investment and exports," he said. (SOURCE)
Oct, 09 2024
jabar.jpnn.com, BANDUNG CITY - Bank Indonesia is optimistic that West Java's economic growth will still be on target in the range of 4.6% to 5.4% in 2024. Global geopolitical challenges and declining purchasing power are the main concerns by encouraging the investment, export, and economic sectors. and digitalization. Deputy Head of the West Java Bank Indonesia Representative Office, Muslimin Anwar, said that West Java's economic growth in the second quarter of 2024 was recorded as growing by 4.95% (year on year/yoy), higher than the previous quarter which grew 4.93% (yoy ). This growth was driven by increased domestic consumption, improved export activity and increased investment. Sectors that contribute greatly to economic growth include the agricultural sector, processing industry, transportation, warehousing and trade. "West Java's economy is expected to continue to grow positively in the range of 4.6% to 5.4%, driven by strong domestic demand, increased community mobility, and infrastructure support that continues to develop," said Muslimin, quoted on Tuesday (8/10 /2024). However, Anwar explained, there are several challenges that must be anticipated, including global uncertainty which has an impact on export demand, as well as potential disruption in the agricultural sector due to the El Nino phenomenon. Bank Indonesia is optimistic that the policies implemented, such as industrial downstreaming and accelerated digitalization, will have a positive impact on the economy of West Java. One positive indicator of the West Java economy is controlled inflation. Until September 2024, West Java recorded inflation of 2.09% (yoy). West Java's annual inflation target of 2.5% is still on track. "Bank Indonesia will continue to strengthen synergies with various parties to maintain economic stability and support sustainable growth in West Java, one of which is maximizing the role of the TPID (regional inflation control team)," he said. From the investment sector, Anwar revealed that West Java investment realization in the second quarter of 2024 reached IDR 63.7 trillion. This achievement makes West Java the province with the highest investment realization in Indonesia. The processing industry, information communications and real estate sectors are the sectors most popular with investors, with Japan, South Korea and Singapore as the main investor countries. Muslimin explained that digitalization and infrastructure are also the keys to encouraging West Java's economy to continue to grow and develop. "Digitalization has created huge opportunities for economic growth. "Currently, West Java has the most QRIS users nationally, which shows that digital transformation is underway," said Muslimin. In August 2024, there will be more than 11 million QRIS users in West Java. Meanwhile, the number of registered merchants will reach 7.3 million, the majority of which come from from micro businesses. He added that digitalization of payments not only encourages transaction efficiency, but also empowers micro and small businesses. In line with digitalization, BI West Java also emphasizes the importance of infrastructure development to support sustainable economic growth. Infrastructure such as toll roads and connectivity in the northern and southern regions of West Java, especially the Cisumdawu and Bocimi toll roads, make a significant contribution to increasing community mobility and distribution of goods. "This infrastructure project will continue to be pushed so that it can have maximum impact on the regional economy," said Anwar. The political year 2024, said Muslimin, will also encourage an increase in domestic consumption driven by political activities. It is hoped that the momentum of the election will be able to support people's purchasing power, as well as strengthen the optimism of business actors after the election. "New economic development in the tourism, agricultural and other sectors is one way to face future global challenges," he said. Meanwhile, academic from the Faculty of Economics and Business (FEB) at Padjadjaran University (Unpad) Ari Tjahajawandita said that synergy between parties is one of the keys so that the West Java economy can continue to grow to face various challenges in the future. Ari proposed that the government can encourage and stabilize the economic sector which is already growing. Second, the government must improve the economic sector which is currently sluggish. "So what came down was to boost West Java's economic growth," said Ari. Even though West Java's economic condition is quite good, Ari believes that the government must put itself in a pessimistic position as an anticipatory step if it does not meet the target. "If we are optimistic, the fear is that we want to improve but it turns out the achievements are low," he said. Therefore, the government must be able to increase household consumption through government spending and investment. "If we want to encourage consumption, of course it must be supported by purchasing power. So the key is that purchasing power must be encouraged. There is also government spending, company investment and exports," he said. (SOURCE)
Oct, 08 2024
KOMPAS.com - The Bandung Regency Government (Pemkab) officially opened the 2024 Bandung Regency Investment Summit (BRIS) which focuses on the agricultural and tourism sectors at the Grand Sunshine Resort Hotel and Convention Soreang, Monday (7/10/2024). The event carried the theme "Moving Forward Investment Sustainability" and was organized by the Bandung Regency One Stop Integrated Services Investment Service (DPMPTSP). Acting Bandung Regent Dikky Achmad Sidik said that BRIS 2024 is a form of joint commitment to encourage economic growth through increasing investment in the region. "BRIS 2024 is a strategic platform to build synergy between government, business actors and society. This is an opportunity for us to innovate in creating new sustainable investment opportunities," he said in a press release received by Kompas.com, Monday (7/10/ 2024). Dikky explained that BRIS 2024 activities include a comprehensive series of events, ranging from information dissemination, appreciation for investment players, to seminars and business meetings. "This event is not only a forum for exchanging ideas, but also shows our commitment to creating a more conducive and inclusive investment climate," he said. Dikky revealed that Bandung Regency has shown significant progress in terms of investment in recent years. However, he emphasized the importance of not becoming complacent. "Through BRIS 2024, we hope to encourage higher investment growth, accelerate investment realization, and deepen strategic sectors. (That way) regional development targets can be achieved optimally," said Dikky. Furthermore, he revealed that the BRIS 2024 activities were an assignment from the Ministry of Home Affairs (Kemendagri) to the Bandung Regency Government. In this case, it was carried out by the Bandung Regency One Stop Integrated Services Investment Service. "This assignment is because the Bandung Regency area is known as one of the leading investment areas in West Java Province (Jabar) and Indonesia," said Dikky. In 2023, total investment, both foreign and domestic, in Bandung Regency will reach IDR 8.1 trillion. This achievement places Bandung Regency in seventh place in investment realization in 27 districts and cities in West Java Province. "To further strengthen the achievement of investment realization, the Bandung Regency Government is expected to collaboratively carry out various strategies and policies," added Dikky. He emphasized that these steps were in line with the medium-term investment realization target in West Java Province which was set at IDR 285.89 trillion for the 2025-2029 period. Dikky explained that plans to increase investment in West Java for the medium term will focus on increasing investment and ease of doing business, as well as creating links and matches between large industries and small and medium industries (IKM). BRIS 2024 will be filled with various activities, including pre-BRIS 2024 seminars and the Bandung Regency Investment Award (BRIA) 2024. The peak event will be a business meeting and Investor Dialogue Forum. According to Dikky, Bandung Regency has a conducive investment climate with various ease of doing business. "We have simplified the licensing process through an online system, made it easier to process business permits, and prepared strong legal protection for investors," he said. The government, continued Dikky, is also committed to continuing to improve supporting infrastructure, including digital infrastructure, to support business activities in Bandung Regency. "Bandung Regency's strategic position, which is close to economic centers such as Bandung City and Jakarta, makes it attractive for investors," he said. With all the potential and advantages it has, Dikky is confident that Bandung Regency will be the main choice for investors who want to develop businesses in Indonesia. "We are very open to working with investors and are committed to providing full support so that investment can run smoothly and have a positive impact on the community's economy," he said. "Through this event, we hope to be able to map existing opportunities and challenges and formulate the best strategy to maximize investment potential in Bandung Regency," continued Dikky. (SOURCE)
Oct, 08 2024
PR GARUT - Head of the Sukabumi City Public Works and Spatial Planning Service (DPUTR), Sony Hermanto, stated that there are two important aspects that are interrelated, namely the provision of Green Open Space (RTH) and agricultural areas. However, with the completion of the Bocimi toll road construction in the future, it is estimated that the investment climate in Sukabumi City will further improve along with the increasing number of investors interested in investing in the area. Sony explained that the Detailed Spatial Planning (RDTR) activity aims to accommodate various interests, including maintaining a balance between improving the investment climate and other aspects that are important for society. "Currently, we are accommodating the aspirations of all stakeholders, including elements of the community and students, so that they can be accommodated in the preparation of the second phase of the RDTR," said Sony. He added that the expected investment in Sukabumi City is more likely to be in the service and trade sectors, such as the construction of hotels or other facilities that support the service industry. "The city of Sukabumi is very dependent on the service and trade sectors, so we have to support the development of investment in this sector. However, if it is hit by regulations that hinder it, of course this will be a challenge in itself," he explained. Sony hopes that the efforts made through RDTR and support for the investment climate can accelerate economic growth in Sukabumi City, as well as have a positive impact on the city's future development. (SOURCE)
Oct, 08 2024
INDUSTRY.co.id - Jakarta - General Chair of the Industrial Area Association (HKI), Sanny Iskandar is optimistic that Indonesia still has quite good potential for investment, although currently foreign investors are a little wary because this year is a political year. The statement by the General Chair of HKI was in response to widespread news that currently a lot of investment is coming to Malaysia. "We will wait until November. Currently, Indonesia is facing a leadership transition which positions us at the crossroads of economic transformation. So investors are in a wait and see position," explained Sanny in his official statement in Jakarta (4/10). "Of course we remain optimistic that after the inauguration and new cabinet, future investment can move," he added. Sanny explained that the industrial area sector, which has been in existence for 50 years, has been able to become the main driver of the economy and a breakthrough regional development model in encouraging the acceleration of inclusive economic growth, where the development of this area is also able to encourage downstreaming, generate added value, increase investment, create fields. work, as well as opening up business opportunities in Indonesia. Sanny gave an example, citing data from the April 2024 Investment Activity Report (LKPM) from the Ministry of Investment, which noted that West Java Province was still ranked first in terms of investment realization of IDR 64.7 trillion. "West Java is home to more than 30 industrial areas and realizes many manufacturing industries in the automotive, electronics, data center and other sectors," he explained. Another example is the Riau Islands (Batam, Bintan and Karimun) which is a region with 18 industrial areas, where currently the development of the area there is leading not only to manufacturing in general but also to green industrial businesses with high technology and better energy utilization. . Quoting data from the Central Statistics Agency (BPS), the economy of the Riau Islands grew 4.90 percent in the second quarter - 2024 (year-on-year). Meanwhile, in terms of the business sector, growth in the third quarter - 2024 was driven by the processing industry category which had a growth share of 5.16 percent. However, Sanny believes that there are still many challenges that must be faced, ranging from trade wars, technological changes, to the need to continue to improve the quality of human resources. Based on HKI data, currently there are 117 industrial areas in Indonesia spread across 24 provinces. According to Sanny, industrial areas are government agents in bringing in investment. Sanny believes that Indonesia still has to improve, especially in terms of simplifying business licensing. Even though he is currently using a Risk Based Approached (RBA) OSS system, he sees that there are still many obstacles to licensing completion that occur in the field. "For example, basic things related to the Detailed Spatial Planning Plan (RDTR) must be connected to the system, which is currently still being worked on because in many regions the process of changing regional regulations is in progress," said Sanny. Another challenge is related to guaranteeing legal certainty which also requires synchronization and harmonization between the central and regional governments. Furthermore, regarding the development of basic infrastructure, there is still much that is inadequate with policies that are not pro-investment. "For example, the availability of raw water sources for industrial activities. Currently, in the West Java area it is very limited even though there are a lot of industries there and need raw water sources," said Sanny. Another challenge is the availability and price of industrial gas which is still an issue. Sanny believes that the Certain Natural Gas Price (HGBT) policy needs to be expanded to the industrial sector, which is currently only being enjoyed by 7 industrial sectors. "Furthermore, for holders of Natural Gas Supply Business Entities (BUPTL), industrial gas prices need to be made competitive," he explained. What is not even important is related to security disturbances that are still occurring. "For example, the existence of economic waste owned by a certain company has become a trigger for demonstrations in industrial areas. Issues from the aspect of security and order can have a significant impact on the investment climate," stressed Sanny. Apart from that, he continued, policies are needed that encourage a more attractive investment climate and the development of competent human resources. According to Sanny, investors will invest if a country or region has attractiveness both from a fiscal and non-fiscal perspective, so breakthroughs need to be made through various attractive incentives. "The formulation of this matter can involve business actors in its preparation so that it is more targeted," he concluded. (SOURCE)
Oct, 07 2024
TRIBUNKALTARA.COM, TARAKAN – Throughout 2024, investment achievements in Tarakan, North Kalimantan until the second quarter reached IDR 8.4 trillion. From these achievements, previously the 2024 investment target from DPMPTSP Kaltara was IDR 11.9 trillion. Head of the Tarakan Investment and One Stop Integrated Services (DPMPTSP) Service, Sugeng is optimistic that the 2024 investment target can be achieved. The reason is, the third quarter is still waiting for the calculation to be completed at the end of October 2024. Sugeng stated that he was optimistic that the target could be achieved, because of the construction of large companies in Tarakan, one of which was PT Phoenix Resources International or PT PRI. PT PRI has just been reviewed by the Director of the Ministry of Investment together with DPMPTSP, Assistant, DLH and the Department of Industry and Manpower, in November 2024 it will be able to operate. "The maximum investment is around IDR 21 trillion for PT PRI," said Sugeng. Sugeng said the realization of the achievement was IDR 8.4 trillion, the largest contribution from PT PRI. Apart from that, there are other companies but not up to IDR 1 trillion. “For others, it's just billions. That's a total value of IDR 8 trillion. If PRI is around almost IDR 7 trillion more. "Yesterday we had a conversation with PT PRI officials. In the future, if the trial runs smoothly, we will increase the investment," explained Sugeng. Sugeng claims that this is the largest production in the world. However, he forgot the daily details of how much it was worth. “2,400 tons per day if I'm not mistaken for paper pulp. The ingredients come from East Kalimantan and West Kalimantan, if the information is not wrong, they are brought to Tarakan. "The materials have now been received and trials have begun," he explained. When it is operational, a maximum workforce of up to 3,000 workers will be needed. Yesterday's information was only in the range of 1,800 workers at PT Phoenix Resources International. Apart from that, in other areas of the company there are donations of wood for shipyards and other companies that invest. "There was also an MoU for the distribution of clean water yesterday but there is still no updated information," he said. (SOURCE)
Oct, 07 2024
The government is currently making adjustments to more flexible upstream oil and gas (oil and gas) investment regulations. This initiative is expected to provide easy benefits for Cooperation Contract Contractors (KKKS) in running oil and gas businesses in Indonesia. They were even offered a new gross split scheme which was simpler and more feasible. This regulation is contained in the Minister of Energy and Mineral Resources (MEMR) Regulation Number 13 of 2020 and the Decree of the Minister of Energy and Mineral Resources Number 230.K/MG.01.MEM/2024. The essence of improving the gross split profit sharing scheme is to provide guaranteed profit sharing of around 75-95 percent for contractors, make Non-Conventional Oil and Gas Work Areas (WK) more attractive, simplify parameters, and provide more flexible (agile) options to contractors. "This simplification is not only to encourage a new gross split, but also the government provides flexibility for contractors to choose the type of contract according to the contractor's convenience. Please allow contractors who want to move to Cost Recovery from the previous Gross Split or vice versa," said the Director of Upstream Oil and Gas Development. Ministry of Energy and Mineral Resources Ariana Soemanto in Jakarta, Saturday (5/10). The implementation of this policy, continued Ariana, applies to contracts signed after Ministerial Regulation Number 13 of 2024 regarding Gross Split Production Sharing Contracts. Meanwhile, existing oil and gas contractors whose contracts were signed before the Ministerial Regulation was issued can switch to a new gross split contract with several notes. First, the old gross split scheme contracts for MNK, including coal methane gas and shale oil/gas, can switch to the new gross split scheme. "This is like the MNK Coal Methane Gas project in Tanjung Enim. It will soon switch to a new gross split so that it can run because the economics are improving," explained Ariana. Second, the cost recovery scheme contract can switch to a new gross split scheme, as long as it is still in the exploration stage and has not received approval for the first plan of development (POD-I) from the Government. "As for old or existing gross split scheme contracts that are already in the production stage, they cannot be changed to the new gross split scheme, but can be changed to cost recovery scheme contracts," said Ariana. To date, there are at least five contractors/blocks who have expressed interest in using the new gross split scheme, in accordance with the Regulations and Decree of the Minister of Energy and Mineral Resources. "Who and which blocks, we should wait for the formalities later. Of course, it's up to the contractor to choose which contract scheme suits each contractor's risk profile. What's important is that we improve the investment climate to make it more attractive, to encourage the discovery of oil and gas reserves and production in the future ," said Ariana. As is known, the Ministry of Energy and Mineral Resources has just issued Minister of Energy and Mineral Resources Regulation Number 13 of 2024 concerning Gross Split Production Sharing Contracts which was signed on August 12 2026. This Ministerial Regulation replaces Minister of Energy and Mineral Resources Regulation Number 8 of 2017 concerning Gross Split Production Sharing Contracts which has been adjusted several times. Apart from that, Decree of the Minister of Energy and Mineral Resources has also been stipulated Number 230.K/MG.01.MEM.M/2024 concerning Implementation Guidelines and Components of Gross Split Production Sharing Contracts. "The government will always try to fulfill stakeholder input while maintaining the interests of the state," concluded Ariana. (NA) (SOURCE)
Oct, 07 2024
PORTALJABAR, BANDUNG CITY - The National Council for Special Economic Zones (SEZ) has approved the proposal for the creation of six new SEZs and the expansion of the Nongsa SEZ in Batam. The two new SEZs are in West Java, namely the Subang SEZ and the Patimban SEZ. The West Java Provincial Government is optimistic that the presence of the Subang SEZ and the Patimban SEZ can encourage economic growth, especially in the Ciayumajakuning area. Acting (Acting) Governor of West Java Bey Machmudin said that his party continues to encourage the acceleration of development in the region through the development of two KEKs which have been approved by the KEK National Council. "We hope that in the future, with the addition of these two new SEZs, they will become centers of innovation, industry and technology, which will increase the competitiveness of the provincial economy and attract national and global investment," said Bey, Thursday (3/10/2024). According to Bey, the West Java Provincial Government is waiting for the Central Government to determine the Subang and Patimban SEZs through a Government Regulation. "Discussions are currently being intensified at the Ministry of Economy and the KEK National Council in Jakarta," he said. These two SEZs are currently becoming investment magnets, especially in the Ciayumajakuning area. From West Java DPMPTSP records, during the period 2021 to Semester I - 2024 the total investment realization in Ciayumajakuning, especially Subang, has reached IDR 16.3 trillion. The Patimban SEZ is in Subang Regency. The SEZ which was designed as a manufacturing SEZ was proposed by PT Wahana Mitra Semesta with business activities in the downstream processing of petrochemicals, EV batteries and semiconductors, logistics and distribution, as well as energy development. The Patimban SEZ is proposed with a land area of 511 hectares with a total investment realization of IDR 141.6 trillion in 2054 with a target workforce of 156,154 people.The Subang KEK was proposed by PT Aneka Bumi Cipta as the fourth proposed SEZ with a target of investment realization for the Subang KEK of IDR 134.59 trillion with a land area of 481.93 hectares. The Subang SEZ has business activities in the production and processing of electric car assembly and logistics and distribution. PT BYD Auto Indonesia, which operates in the electric car sector, is the anchor investor in the Subang SEZ. It is targeted to absorb a workforce of 95,139 people. (SOURCE)
Oct, 07 2024
TRIBUNJABAR.ID, BANDUNG - Global geopolitical challenges and declining purchasing power are the main concerns by encouraging the investment, export and digitalization sectors. Bank Indonesia is optimistic that West Java's economic growth will still meet the target in the range of 4.6 percent to 5.4% in 2024. Deputy Head of the West Java Bank Indonesia Representative Office, Muslimin Anwar, said that West Java's economic growth in the second quarter of 2024 was recorded as growing at 4.95% (year on year/yoy), higher than the previous quarter which grew at 4.93% (yoy). This growth was driven by increased domestic consumption, improved export activity and increased investment. Sectors that contribute greatly to economic growth include the agricultural sector, processing industry, transportation, warehousing and trade. "West Java's economy is expected to continue to grow positively in the range of 4.6% to 5.4%, driven by strong domestic demand, increased community mobility, and infrastructure support that continues to develop," said Anwar, at the Road to West Java event Journalist Competition, Friday (4/10/2024) Anwar explained that there are several challenges that must be anticipated, including global uncertainty which has an impact on export demand, as well as potential disruption in the agricultural sector due to the El Nino phenomenon. However, Bank Indonesia is optimistic that the policies implemented, such as industrial downstreaming and accelerated digitalization, will have a positive impact on the West Java economy. One positive indicator of the West Java economy is controlled inflation. Until September 2024, West Java recorded inflation of 2.09% (yoy). West Java's annual inflation target of 2.5% is still on track. "Bank Indonesia will continue to strengthen synergies with various parties to maintain economic stability and support sustainable growth in West Java, one of which is maximizing the role of the TPID (regional inflation control team)," he said. Anwar explained that digitalization and infrastructure are also the keys to encouraging West Java's economy to continue to grow and develop. “Digitalization has created great opportunities for economic growth. "Currently, West Java has the most QRIS users nationally, which shows that digital transformation is underway," he said. In August 2024, there will be more than 11 million QRIS users in West Java. Meanwhile, the number of registered merchants reached 7.3 million, the majority of which came from micro businesses. He added that digitalization of payments not only encourages transaction efficiency, but also empowers micro and small businesses. The political year 2024, said Anwar, will also encourage an increase in domestic consumption driven by political activities. It is hoped that the momentum of the election will be able to support people's purchasing power, as well as strengthen the optimism of business actors after the election. "New economic development in the tourism, agricultural and other sectors is one way to face future global challenges," he said. Meanwhile, academic from the Faculty of Economics and Business (FEB) at Padjadjaran University (Unpad) Ari Tjahajawandita said that synergy between parties is one of the keys so that the West Java economy can continue to grow to face various challenges in the future. Ari proposed that the government can encourage and stabilize the economic sector which is already growing. Second, the government must improve the economic sector which is currently sluggish. "So what came down was to boost West Java's economic growth," said Ari. (SOURCE)
Oct, 07 2024
Jakarta, Sawit Indonesia – Indonesia again participated in the 21st China – ASEAN Expo (CAEXPO) which was held at the Nanning International Convention and Exhibition Center (NICEC), Nanning, China on 24 – 28 September 2024. At this annual exhibition, Indonesia managed to record potential transaction of IDR 479 billion. The products that are most in demand include palm oil, coconut, cloves, coffee, tropical fruit, handicrafts, instant noodles and processed foods. “We are proud of the transaction results that have been achieved. These results are clear evidence of the great potential that Indonesian products have. "We hope that the results of this exhibition can encourage increased exports and strengthen the competitiveness of local products in international markets, especially China," said the Director General of National Export Development at the Indonesian Ministry of Trade, Mardyana Listyowati. At this CAEXPO, Indonesia presented three pavilions, namely the Commodity Pavilion, the National Pavilion and the ASEAN High Tech Pavilion. The Commodity Pavilion featured 51 participants who participated, either independently or facilitated by the central, regional government or State-Owned Enterprises (BUMN). Meanwhile, the National Pavilion is managed by the Palm Oil Plantation Fund Management Agency (BPDPKS) to promote the potential of palm oil and its derivatives. Meanwhile, the ASEAN High Tech Pavilion specifically displays electric car products produced by Wuling Indonesia. This pavilion aims to depict Indonesia as a country that is friendly to foreign investment and capable of contributing to the global supply chain. At this year's CAEXPO, Indonesia succeeded in winning seven prestigious awards. These awards are Best Trade and Economic Outcomes, Best National Pavilion, Best Promotion on Investment Cooperation, Best Industry Organizer, CAEXPO Silver Award for the company PT Surabaya Indah Permai, CAEXPO Excellent Design Award for the company CV Pitoyo Indo Furniture, and CAEXPO Popularity Award for the company PT Rahayu Alam Arto (Negrikoe Coffee). "The CAEXPO 2024 exhibition not only opens up new cooperation opportunities, but also provides an opportunity for Indonesian business actors to interact with the huge Chinese market. "With these encouraging results, Indonesia is increasingly optimistic about strengthening its position in the international market, especially in China and ASEAN," added Mardyana. Director of Primary Product Export Development at the Ministry of Trade RIMiftah Farid added, apart from CAEXPO 2024, Indonesia is present in various forums to strengthen trade and investment relations. Some of them are the China's Green Value Chain Dialogue and the China – Indonesia Trade and Investment Conference at the Grand Metro Park Hotel, Nanning, China. These two forums are part of a series of activities for the China – ASEAN Business and Investment Summit (CABIS) 2024 and Indonesia – China Investment Forum. On the sidelines of the exhibition, Indonesia also held a bilateral meeting with representatives of Guangxi Province and attended the RCEP High Level Dialogue forum. These two events were held at the Shangri-La Hotel, Nanning, China. "Participation in CAEXPO 2024, which is combined with meetings at various international forums, is a strategic and effective forum for promoting products and investment in Indonesia," added Miftah. (SOURCE)
Oct, 07 2024
Batang, Central Java (ANTARA) - Minister of Investment/Head of the Investment Coordinating Board (BKPM) Rosan Roeslani inaugurated the factory of the Dutch pipe company, namely Wavin, in the Batang Integrated Industrial Area (KIT), Central Java, with a total investment value of IDR 825 billion. "So the investment is approximately IDR 825 billion, and in terms of labor, 170 workers are absorbed, because they use high technology," said Minister Rosan in Batang, Central Java, Thursday. He also said that Wavin is a global leading company engaged in the production of polyvinyl chloride (PVC), so that the presence of a production factory in Indonesia will have a positive impact on the advancement of the national economy. He reasoned that this was because the pipes from the Wavin factory in Batang were oriented for export to the Southeast Asian (ASEAN), Australia and New Zealand markets. Furthermore, Rosan said that the inauguration of the factory is expected to be the first step for Wavin's parent, Orbia, to invest in other sectors in Indonesia, considering that the company has a market value (share value) of 8 billion US dollars. "So we hope for investments like this in the future, and what we can also be proud of is that this investment is an initial investment in the future, because Orbia also has many lines of business, so they are really happy to collaborate with KIT Batang," said Minister Rosan. On the other hand, Country Director of Wavin Indonesia and Sea+ Johannes Drees said that the facilities built by his party at KIT Batang use the best and newest technology to produce pipes, so that they can optimize access to water and sanitation in the country. Previously, President Joko Widodo (Jokowi) held a ground breaking for PT Wavin Manufacturing Indonesia in October 2022. According to the President, with the presence of this factory, it is hoped that Indonesia will no longer import pipes. (SOURCE)
Oct, 07 2024
PR JABAR - Almer Faiq Rusydi promised to create a climate of easy investment for entrepreneurs who are members of Kadin throughout West Java if he is elected as Chairman of the West Java Chamber of Commerce and Industry (Kadin). The businessman who currently serves as Chairman of the Bogor City Chamber of Commerce and Industry has registered to become a candidate for Chairman of the West Java Chamber of Commerce and Industry. Almer's seriousness in his promise was proven by submitting a registration form as a candidate for Chairman of the West Java Chamber of Commerce and Industry at the West Java Chamber of Commerce and Industry Office, Jalan Sukabumi, Bandung City, Monday 30 September 2024. Almer Faiq Rusydi is a successful young entrepreneur from Bogor City. Apart from being supported by the majority of city/district Chambers of Commerce in West Java, as well as the Extraordinary Member of the West Java Chamber of Commerce and Industry, Almer also has a special motivation to register as a candidate for Chairman of the West Java Chamber of Commerce and Industry. "Thank God, I, along with my team, and accompanied by the majority of city/district Kadin Chairmen, and the Chair of the ALB of the Answered Chamber of Commerce have registered as candidates for Chair of the West Java Chamber of Commerce and Industry," said Almer when met after submitting the registration form. Almer stated that he would bring the West Java Chamber of Commerce and Industry to embrace all 27 city/district Chambers of Commerce by regularly holding coffee mornings. Entrepreneurs who are members of the West Java Chamber of Commerce and Industry must be united in guarding investment from the center to West Java. "Entrepreneurs who are members of Kadin in district cities must become hosts in their respective areas," said Almer. Regarding his personal motivation for registering as a candidate for Chairman of the West Java Chamber of Commerce and Industry, Almer said, because he is currently Chairman of the Bogor City Chamber of Commerce and Industry, he certainly understands the problems faced in the city/district. "This is what led us, my friends and I, to want better change, to be able to synergize with regional governments, both at the provincial and district city levels," he said. According to Almer, regarding the investment climate, the West Java Chamber of Commerce and Industry together with the city/district Chamber of Commerce must be able to oversee investment entering West Java. Entrepreneurs in cities/districts must be able to feel the positive impact of investment, especially for the regional economy. "I am optimistic that investment will progress further in the future because we know that West Java is a national investment destination. Kadin is a strategic partner of the government and oversees programs in West Java, down to the city districts," said Almer. "God willing, bismillah, hopefully, I ask for prayers, so that I, who has been encouraged by district city seniors, can be elected as Chair of the West Java Chamber of Commerce and Industry. More importantly, I can be of benefit to business people, especially in West Java," he said. When asked about regulations that are considered to hinder investment, Almer stated that this was an interesting thing to resolve. "I want to ensure the ease of investment and try to make regulations easier so that investment comes to West Java so that entrepreneurs in the district city get the benefits," said Almer. (SOURCE)
Oct, 01 2024
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