Indonesia economic quarterly

Indonesia Investment Authority (INA) and US International Development Finance Corporation (DFC) sign a Memorandum of Understanding to promote economic development in Indonesia. (Photo:id. us embassy.gov) Jakarta (VNA) – Indonesia Investment Authority (INA) and US International Development Finance Corporation (DFC) have taken a significant step towards promoting economic development in Indonesia by signing a Memorandum of Understanding (MoU). According to a statement released on March 16 by the US Embassy in Jakarta, the two sides will collaborate to identify investment opportunities throughout Indonesia that align with their respective investment mandates, demonstrating strong potential for strategic and developmental impact. The document highlights the deepening economic relationship between the two countries. The DFC has a proven track record of mobilising private sector investments to address development challenges. With the exposure of more than 35 billion USD, the DFC … [Read more...] about Indonesia, US sign MoU to catalyse investments

Officials at the 29th ASEAN Economic Ministers' (AEM) Retreat in Magelang, Central Java province of Indonesia (Source: VNA) Jakarta (VNA) - Kao Kim Hourn, Secretary General of the Association of Southeast Asian Nations (ASEAN), has commended Indonesia , Chair of the bloc in 2023, for raising priority economic deliverables (PEDs) that are forward-looking and expected to encourage stronger regional economic cooperation. If the PEDs are fully implemented, they can significantly help bolster ASEAN economic integration and post-pandemic recovery in the region, Hourn told a press conference of the recent 29th ASEAN Economic Ministers' (AEM) Retreat in Magelang, Central Java province. The PEDs, agreed at the AEM Retreat, were categorised into three strategic thrusts, namely Recovery and Rebuilding: Rebuilding Regional Growth through Connected Markets and New Competitiveness; Digital Economy: Accelerating Inclusive Digital Economy Transformation and Participation; and … [Read more...] about Indonesia raises priority economic deliverables for ASEAN

Coordinating Minister for Economic Affairs Airlangga Hartarto (Source: indonesia .postsen.com) Jakarta (VNA) - The Indonesian Government is committed to promoting inclusive and sustainable growth not only in the country, but also in the Indo-Pacific and ASEAN regions, according to Coordinating Minister for Economic Affairs Airlangga Hartarto. This commitment is manifested in Indonesia's efforts to establish good relations and strengthen economic cooperation both bilaterally and multilaterally, including its involvement in the Indo-Pacific Economic Framework for Prosperity (IPEF). Speaking at the Indo-Pacific Chamber of Commerce and Industry Business Forum in Nusa Dua Bali on March 18, Airlangga said that IPEF partners are united by a vision to innovate and bring new ideas to foster cross-border trade as well as cooperation in existing approaches. Stressing that the Indo-Pacific region is a driver of the world’s economic growth, he said the proactive engagement … [Read more...] about Indonesia pledges to boost inclusive growth in Indo-Pacific region

Illustrative photo. (Photo: AFP/VNA) mô tả cho ảnh Jakarta (VNA) – ASEAN has sufficient resources to become a centre of world economic growth with a GDP reaching USD 3.36 trillion in 2021 and a population of 650 million people, Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto said on March 15. ASEAN chair this year set 16 Priority Economic Deliverables (PED) which are divided into three strategic drives including recovery-rebuilding, digital economy, and sustainability. Indonesia also aims to promote sustainable regional development through the ASEAN - Indo-Pacific Forum (AIPF) in which, the public and private sectors will be invited to participate in projects in the region to support green infrastructure, strengthened supply chains, digital transformation, and creative economy, as well as innovative and sustainable finance./. VNA … [Read more...] about Indonesia drives ASEAN to become centre of world economic growth

Deputy for Coordination of International Economic Cooperation of the Coordinating Ministry for Economic Affairs Edi Prio Pambudi (left) during the Strategic Planning Meeting IMT-GT in Bangkok, Thailand, on March 21, 2023. (Photo: ANTARA) Jakarta (VNA) – Indonesian Deputy for Coordination of International Economic Cooperation of the Coordinating Economic Affairs Ministry, Edi Prio Pambudi highlighted that the Indonesia - Malaysia - Thailand Growth Triangle (IMT-GT) cooperation should be strengthened to generate broader benefits for each country. Speaking at the IMT-GT Strategic Planning Meeting, Pambudi said IMT-GT cooperation needs to take into account risks and opportunities from global dynamics and megatrends to realise the IMT-GT Vision 2036. In addition, the development of cooperation between academics and business actors was discussed. Pambudi drew attention to several important issues to be considered in the future, including boosting connectivity to … [Read more...] about Indonesia, Malaysia, Thailand beef up cooperation

Illustrative image (Photo: AFP/VNA) Jakarta (VNA) - Indonesia may procure another 500,000 tonnes of rice from abroad this year to fill up the diminishing government rice reserves , the Trade Ministry has said. The announcement came despite the government having imported 500,000 tonnes of rice from countries including Vietnam, Thailand, and Pakistan starting last December. Trade Minister Zulkifli Hasan said the government had agreed to offer the option, arguing that the State Logistics Agency (Bulog) only had around a quarter of the required minimum reserves of 1.2 million tonnes. They decided at a meeting with the President that whenever necessary, they can import again as many as 500,000 tonnes, the minister told a recent session with Commission VI of the Indonesian House of Representatives . However, he noted, the government will not import rice in the near future as the harvest season is coming and the import of foreign rice may affect domestic prices. Rice … [Read more...] about Indonesia may import another 500,000 tonnes of rice in 2023

Indonesian Foreign Minister Retno Marsudi (Photo: AFP/VNA) Jakarta (VNA) – Indonesian Foreign Minister Retno Marsudi has announced three main pillars of this year’s ASEAN Summit , themed “ASEAN Matters: Epicentrum of Growth.” Speaking at an event on March 19, the minister said the first is maintaining the ten-member group’s centrality, making it a driver to promote peace and stability. Regarding the second - the epicentrum of growth, the official pointed to ASEAN’s advantages in demography, high economic growth, and regional peace and stability. The third lies with Indo-Pacific, she said, noting that the ASEAN Outlook on the Indo-Pacific (AOIP) should be translated into specific economic cooperation activities. In that spirit, during Indonesia ’s ASEAN Chairmanship 2023, the Indonesian Foreign Ministry will coordinate with the Indonesian Chamber of Commerce and Industry (KADIN) and relevant ministries and agencies in organising the ASEAN-Indo-Pacific Forum … [Read more...] about Indonesia announces pillars of ASEAN Summit 2023

Illustrative image. (Photo: tempo.co) Jakarta (VNA) – Bank Indonesia (BI) is preparing 195 trillion Rp (12.7 billion USD) in cash in preparation for the upcoming holy month of Ramadan and Eid Al-Fitr. Head of the Money Management Department of Bank Indonesia Marlison Hakim said that based on the national banking withdrawal plan, BI prepared cash amounting to 195 trillion Rp for the 2023 Ramadan and Eid al-Fitr, an increase of 8.22% from the previous year. The banking industry has committed to open 5,066 service points across Indonesia, which is 8% higher than last year’s figure, he said, adding that this marks the industry's response to public mobilisation, economic growth and people's needs. Hakim said that the banking industry will provide integrated roving cash services in Jakarta and several regions. For the Jakarta, Bogor, Depok and Bekasi region, as many as 599 service points will be provided by 55 banks. The services will be provided in crowd centre … [Read more...] about Indonesia prepares over 12 billion USD for Ramadan, Eid al-Fitr

Stella Amirkhanyan found she had lost the money while she was visiting a money exchange shop in preparation for her trip to Indonesia. She then drove her motorbike back to Luong Ngoc Quyen Street, Hanoi's backpacker precinct, to find her lost money. She says she felt desperate and thought her money had been lost. However, a young Vietnamese woman found the money and sat at a roadside café to wait for Amirkhanyan to return. "It was like a miracle," Amirkhanyan said, when she received the money back. "I burst into tears," she said. Amirkhanyan says she regrets that she forgot to ask the woman's name. Therefore, she shared her story online to thank the benefactor as well as spread the positive message. Amirkhanyan was also very grateful to local people, who approached and comforted her when they saw her crying. The young Armenian woman, who came to Hanoi late last year and works as travel blogger, is now visiting Indonesia but plans to return to Hanoi on March 27. … [Read more...] about Vietnamese woman returns lost money to Armenian tourist in Hanoi’s Old Quarter

Design of the Central Government Core Area, or KIPP, at Indonesia's new capital city (IKN) Nusantara in East Kalimantan. (Photo: ANTARA) Jakarta (VNA) – Indonesia's new capital city (IKN) Nusantara Authority and the United Nations Development Program (UNDP) are collaborating to build a sustainable city in IKN Nusantara, East Kalimantan. According to head of IKN Nusantara’s authority Bambang Susantono, the collaboration will accelerate the goal to realise IKN Nusantara as a city for all. He remarked that the IKN authority and UNDP had signed a memorandum of understanding (MoU) to work together in building a sustainable city in IKN Nusantara. The MoU will serve as the basis for joint initiatives in various efforts to realise eight main principles of IKN development, including building the city in accordance with nature, reflecting unity in diversity, building a connected, active, and accessible city, enabling low-carbon emissions, being circular and resilient, … [Read more...] about Indonesia, UNDP cooperate to develop new capital as sustainable city