Home News President Joko Widodo emphasizes the importance of open and inclusive economic development

President Joko Widodo emphasizes the importance of open and inclusive economic development

VOI NEWS, 14:00 LOCAL TIME, GMT+7, 11-11-2017

After arriving in Da Nang, Vietnam on Friday, President Joko Widodo directly attended the APEC Business Advisory Council (ABAC) Dialogue meeting and the APEC-ASEAN Leaders meeting held on Friday at the Furama Resort, Da Nang, Vietnam. In the Dialogue of APEC Business Advisory Council -ABAC, President Joko Widodo underscored the importance of open and inclusive economic development to address the imbalances that have occurred in a number of countries around the world. Indonesia is considered to have successfully implemented an inclusive development system through a number of social protection programs. This was stated by Deputy Minister of Foreign Affairs, A.M. Fachir after accompanying President Joko Widodo in the APEC-ASEAN meeting. He said that Indonesia is considered to successfully balance and combine growth and equity. President Joko WI dodo views that the synergy can be realized in a number of cooperation in various fields, ranging from e-commerce, human resource development to regional cooperation in Asia Pacific (RCAP) with Free Trade Area of Asia Pacific (FTAAP). The President said that ABAC and ASEAN could also help APEC to shape the domestic market intra-region so it does not depend on other regions. (Press Release/Trans by Rhm)


Minister Budi Karya pitches transportation projects to South Korea

Minister of Transportation, Budi Karya Sumadi met with Minister of South Korean Land, Infrastructure and Transportation, Kim Hyun-mee in Jakarta on Friday. The meeting was held following the signing of a bilateral agreement between the governments of Indonesia and South Korea at the Bogor Palace, West Java on Thursday. Minister Budi said after the meeting that they held a business forum with Korea to follow up on the signing of memorandum of understanding on Thursday. He also noted that South Korea delegates earlier inspected infrastructure projects in Makassar and Kualanamu. He views that South Korea is open to investing in Indonesia’s transportation projects. The Minister alsoexplained the the government will offer ongoing projects, including Makassar Port, Pare-Pare Port, Kualanamu Airport and Kuala Tanjung Port. (Tempo)


OJK predicts bank loans to grow 10 percent this year

The Financial Service Authority –OJK expects bank loans to grow 10 percent this year, which is lower than the target set in the 2017 Bank Business Plan (RBB) at 11.8 percent after being revised from 13 percent. Chief Executive of OJK Banking Monitoring, Heru Kristiyana said that a 9-10 percent loan growth would be a good achievement. He reasoned that as of October, the loan growth stood at only 7.86 percent on a year on year basis and up 3-4 percent year to date. He said on Friday that the growth remains slow since banks are consolidating. He also noted that bank loan growth is slowing down since major debtors are paying off their debts, including state-owned companies -PT Pertamina and PT PLN. As for next year, the OJK is confident that bank loan will grow above 11 percent because the consolidation period will end and show its results. (Tempo)


Official: Special economic zone task force to facilitate permit process

Secretary of the National Council for Special Economic Zones (KEK), Enoh Suharto Pranoto believes that establishment of the Ease of Doing Business Task Force will facilitate the process of obtaining investment permits at the regional level. Pranoto stated on Thursday (Nov 9) that the Ease of Doing Business Task Force, being formed by the government, is a solution to solving issues related to investment at the regional level, as the institution involves the local administration, which is directly led by the regional secretary. He explained that issues still exist in obtaining investment permits at the regional level, and they have been raised by the KEK management. Such issues create uncertainty that is not in line with the vision of the government that is keen to facilitate the process of obtaining business permits.  To this end, the government has established a task force headed by the provincial secretary at the provincial level and the regency or city secretary at the district or city level. (Ant)


Indonesian firms showcase products in Vietnam

Twenty-six Indonesian companies are showcasing their products at a trade fair which opened its doors in the central city of Danang on Thursday. On display at 32 booths are cars and components, food stuffs and beverages, paper, fine arts and handicrafts, as well as fashion products. In his speech at the fair’s opening ceremony, Indonesian Ambassador to Vietnam Ibnu Hadi said the event aimed to advertise Indonesia’s image and its quality products, deliver updated information about bilateral relations between Vietnam and Indonesia in trade, investment and tourism while helping the two countries’ businesses seek new co-operation opportunities. A dialogue between Vietnamese and Indonesian businesses is held on Saturday on the sidelines of the fair. Co-organized by the Indonesian Embassy and the Vietnam Chamber of Commerce and Industry, the forthcoming event is expected to attract about 100 businesses from two countries. The fair runs until Sunday. (JP)


Sail Sabang 2017 set to be Indonesia’s biggest sailing event

Sail Sabang 2017 is slated to run from Nov. 28 until Dec. 5 in Sabang, Aceh. Comprising a plethora of activities, including an international sailing competition, marine expo, traditional ship parade and a visit from two barquentine ships, namely KRI Dewaruci and KRI Bima Suci, Aceh Governor Irwandi Yusuf said Sail Sabang 2017 is set to be the biggest tourist event in Indonesia this year. During the launch of Sail Sabang 2017 at the Tourism Ministry in Central Jakarta on Thursday, Irwandi said the Aceh administration had geared up to welcome guests. He expressed his hope that Sail Sabang 2017 would not only become a platform to promote tourism in Aceh but also expedite the province’s development, adding that the event would be an opportunity to show the public that Acehis safe place and ready to welcome guests and investors. (JP)


12 orphaned Bornean orangutans returned to the Wild

Twelve orphaned Bornean orangutans –four males and eight females– are being reintroduced into the wild at Bukit Baka Bukit Raya National Park in Central Kalimantan's Katingan district this week. The move comes after the completion of a rehabilitation process at the Borneo Orangutan Survival Foundation (BOSF) in the province. Two of the orphans, named Nanga and Sukarama, were part of a group of 48 orangutans that were smuggled to Thailand. They were placed in the foundation's care following their repatriation in 2006. The foundation said that there are currently 71 individuals in the park after the orphans were reintroduced. BOSF chief executive, Jamartin Sihite explained that the rehabilitation of orphaned orangutans is a long and complicated process and it took 11 years of rehabilitation to return Nanga and Sukarama to the wild. Jamartin urged the relevant stakeholders to make contributions, including funding or other assistance to support the foundation's efforts to rehabilitate and reintroduce captured orangutans into the wild. (JG)



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