25November2017

Home News Investment increase to boost economic growth: VP

Investment increase to boost economic growth: VP

VOI NEWS 11.00 LOCAL TIME, GMT+7, 08-11-2017

Vice President Jusuf Kalla stated that the increase of domestic and foreign investment is important to boost economic growth that in the third quarter 2017 grew by 5.06 percent. He said on Tuesday (7/11) that boosting growth requires more investment and exports. The Central Bureau of Statistics (BPS) noted that Indonesia’s economy by expenditure in the third quarter 2017 grew by 5.06 percent year-on-year. The highest growth that drives economic growth is export. Most of Indonesia’s exports are destined to China, the United States, Japan, India, and Singapore. Vice President Jusuf Kalla export performance should be higher because the state budget is maximum. He added that export performance could be improved by accelerating the completion of 16 international negotiations. Some of these negotiations include the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU CEPA) and the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). (antara)

VP Kalla: Not All Businessmen Listed in Paradise Papers are Bad

Vice President Jusuf Kalla said not all business owners listed in Paradise Papers are bad since people could be driven by two different motives to establish a company overseas. Kalla said at the Vice-Presidential Office in Jakarta on Tuesday (7/11) that the first motive is to evade taxes. Jusuf Kalla added that the second motive is to expand businesses. For instance, he explained, a business owner would establish a company overseas to get loans from foreign banks and use the fund in the home country. The vice president pointed out that it is a positive thing. Not everything related to such a practice is negative. The vice president believes that establishing companies overseas is not illegal as long as the owners pay taxes. It was reported earlier that a number of Indonesian business owners and politicians are in the list of Appleby and Asiacity Trust’s clients. The findings were released by the International Consortium of Investigative Journalists (ICIJ) in a report titled Paradise Papers. The ICIJ last year released a report entitled Panama Papers revealing shell companies owned by prominent figures in Indonesia. This time, as many as 40 out of 215 Indonesians mentioned in the Paradise Papers are politicians and business owners who have significant influences in the country. (tempo)

 

Minister Ensures Food Stock Safe until End of This Year

Minister of Agriculture, Andi Amran Sulaiman ensures food stock especially rice is safe until the end of this year. He considers the report of the national harvest that will be obtained until November 2017 could reach 7 million tons. The minister said to the press in his visit in the district of Karanganyar, Central java province on Tuesday that the rice stock in Cipinang Central rice market in Jakarta continues to increase compared to the previous days.

“Rice has entered Cipinang in a total 5220 tons. Normally it is 2000-2500 tons. That means the increase of 100 percent. Today we want to check directly. As per November's report the harvests covered approximately 1 million hectares. If this is safe it means we can harvest 7 million tons, divided into two means 3.5, million tons of rice. Our needs are 2.6 million tons,” said Andi Amran Sulaiman.

Minister Andi Amran Sulaiman said further that the success of the agricultural program in several provinces has resulted the abundance of rice. The minister also said, the success of maintaining food production during the dry season cannot be separated from the application of permanent solutions, among others the increase of the planting area from July until September. (kbrn/edwi/trans r)

 

Freeport IPO to be conducted after divestment: Minister 

Energy and Mineral Resources Minister Ignasius Jonan has said that gold and copper miner PT Freeport Indonesia will hold an initial public offering (IPO) after the completion of its divestment to Indonesian entities as required by law. Jonan at the Indonesia Stock Exchange (IDX) in Jakarta on Tuesday (7/11) as reported by kontan.co.id said the divestment will be implemented in stages based on the financial ability. The government and Freeport Indonesia was initially scheduled to complete negotiations in October, but the deadline has been extended until January 2018 because several issues remain unresolved. The divestment agreement was announced by Freeport McMoRan CEO Richard Adkerson during a joint press conference with Finance Minister Sri Mulyani Indrawati and Energy and Mineral Resources Minister Ignasius Jonan on August 29. The company also agreed to convert its contract of work (CoW) into a special mining permit (IUPK), build a smelter within the next five years and increase its contribution to state revenue from its Grasberg mine in Papua in exchange for the contractual extension for the mine operation until 2041. (Jakarta Post)

Indonesian embassy offers bahasa learning program to Cambodian soldiers

The Embassy of the Republic of Indonesia in Phnom Penh is conducting a program to teach Indonesian language to 19 Cambodian soldiers as part of the defense cooperation between both nations. Indonesian Defense Attaché Colonel Sunaryo, in a statement received by ANTARA on Tuesday (7/11), stated that the program to teach Indonesian language was an annual agenda that has been implemented on an ongoing basis for the Cambodian army members in the form of training, courses, and education programs in Indonesia. The Indonesian language teaching program, which is part of the Defense Cooperation or the Army to Army Talks to be held for four months, began on October 2, 2017. During the 2015-2017 period, the Cambodian Army has sent 51 participants to attend courses, training, and education programs with the Indonesian Army. The Indonesian language classes are held every Monday, Wednesday, and Friday for nine hours a week, with lecturers from the Center for Linguistic Diplomacy Development and Strategy, the Ministry of Education and Culture. (antara)

Jonan Wants Freeport to List on IDX

The Energy and Mineral Resources Minister Ignasius Jonan said he would ask Freeport Indonesia to list their shares on the Indonesia Stock Exchange (IDX). But he said he wants the US-based miner to finalize the divestment process first. Jonan said at the IDX building recently that for now, the divestment must be done first. Once the central government and Papua provincial government have the 51 percent share, the government can think about Freeport going public. The minister said it is very important to keep pushing for transparency. He remarked that it makes the issues of tax payments, accountability, and so on, are getting better. According to Jonan, there are not many big miners in the stock market, except for companies that have become an Indonesian company. Jonan said Freeport Indonesia's divestment is, in principle, completed. The acquisition will be done in the near future and the conversion of shares according to the president's direction will be done gradually in accordance with the government's ability. He added that hopefully, when the divestment is finalized, Freeport will one day list on the IDX. (tempo)

New study aims to solve waste problems in Komodo National Park

The West Manggarai administration in East Nusa Tenggara launched recently a study detailing strategies to deal with waste problems in the area, which is home to the world famous Labuan Bajo tourist town and Komodo National Park. West Manggarai regent Agustinus Dula called the study, which is jointly written by the administration, the Komodo National Park Agency and the World Wildlife Fund (WWF) Indonesia, a "real step" toward better waste management in the area. M. Erdi Lazuardi, Lesser Sunda Seascape Project Leader with the WWF Indonesia said that one of the biggest challenges to managing waste in coastal conservation areas is how to first manage waste on the land. The study recommended several steps to manage waste in West Manggarai, especially in Labuan Bajo and Komodo National Park, such as establishing more 3R (reduce, reuse, recycle) temporary trash disposal sites (TPS), enforcing waste management regulations on waste separation and increasing public participation. (Jakarta Post)

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