Friday, February 3, 2023

Tag: International

The overflow of made-in-China and local counterfeit products in Indonesia has resulted in economic losses for local businesses and international brands. The K&K Advocates-Intellectual Property said that Indonesia suffered financial losses of IDR 291 trillion (US$ 19.41 billion) due to fake goods in 2020. It was a sharp increase from 2015 when the country suffered losses of IDR 65.1 trillion. […]
Indonesia and North Korea have seen a continuously declining trend in bilateral trades although both countries had a blossoming diplomatic relations during the Cold War. During Indonesia’s First President Sukarno era, trade between the two countries had flourished and has been ongoing even until this day. […]
As the ASEAN 2023’s Chairman, Indonesia hopes to bring stability and prosperity in the region on various issues, including climate change, cyber security, digital economy and disruption of the regional supply chain. Therefore, the government must create a strong foundation of cooperation so that ASEAN can face all kinds of challenges in a responsive manner as a region. […]
President Joko “Jokowi” Widodo met with the newly elect Malaysian Prime Minister Anwar Ibrahim at the Bogor Presidential Palace on January 9, 2023, to discuss on, among others, the palm oil industry in both countries and Indonesia’s migrant workers. […]
The riot in PT Gunbuster Nickel Industri (GNI) on January 14, 2023, between domestic and Chinese workers has signaled an underlying structural problem in the unfair treatment of labors in the industry. Sociologist even called it a ‘time bomb’ due to government’s leniency to Chinese workers. […]
The state should be present to mediate the workers and foreign investors in cases that could trigger violent acts such as the Morowali riot, which claimed two lives, and prevent the incident from recurring in the future. The root of the problems lies on inequality in working condition, job security, decent salary and social security between local and Chinese workers. […]
The government has prioritized the development of Indonesia’s special economic zones (SEZs) in order to attract over US$ 50 billion in foreign investments over the next decade. Currently, there are 19 SEZs in Indonesia, spreading in its main islands. A total of 12 SEZs are currently operational and the remaining 7 are under construction. […]
Indonesia and the Gulf Cooperation Council (GCC) countries have maintained their fruitful relations. The 6 GCC countries – comprising of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) – are looking to expand more on their digital cooperation with Indonesia. […]
Seventy two years of diplomatic relations between Indonesia and China, both countries have trade imbalance. In 2021, a report indicated the negative trade balance reached around US$ 3 billion. The imbalance was due to China’s exports which reached US$ 56 billion while it imported US$ 53 billion from Indonesia. […]
Amidst the fear of global economy recession threat in 2023, Indonesia will survive despite having to address two major issues: energy prices and fertilizer prices. […]
The insurance industry in Indonesia has been growing in recent years, due to the increasing awareness among the people on the importance of insurance. The government has also raised its efforts to increase insurance penetration in the country. This story reveals the top 10 insurance companies in Indonesia […]
NGOs in Indonesia have served as a significant factor in advancing public or social welfare goals. There are countless NGOs in Indonesia, both international and national/local. […]
As the current biggest Korean boy band in the world, BTS has been proving its status by breaking barriers and records – in or outside music industry – around the world. “Bangtan economy” is a nickname for BTS as a credit for contributing to South Korea’s culture, economy, and industry due to their popularity. […]
The South China Sea conflict and the military competition in the regions has forced Indonesia to modernize its defense industry. To anticipate the heightened conflict, Indonesia has purchased new jet fighters and submarines. […]
In the midst of the COVID-19 pandemic in Indonesia, the Investment Coordinating Board (BKPM) has continued to offer investment opportunities in accordance with President Joko “Jokowi” Widodo’s instruction. […]
The United Nations peacekeeping force was a unit established by the UN to prevent conflict, reduce violence and strengthen security. Many countries have contributed to the UN peacekeeping force by sending their troops. Indonesia is one of them. Indonesia is well known to have a strong commitment to bring peace and stability to post-conflict countries. […]
Investment is one of the key drives of a country’s economic growth and Indonesia is no exception. Despite the COVID-19 pandemic, Indonesia has surprisingly raised the value of its Foreign Direct Investment (FDI) from 2020 until 2022. It was all due to the large young population and growing middle class, sustainable economic growth, political stability, as well as its natural resources. […]
The government’s ban on the bauxite ores export is likely to increase investments in the bauxites processing and refining industry. Economist at the Yogyakarta-based Gadjah Mada University Fahmi Radhi said one of the challenges faced by the government after the ban would be the limited bauxites smelters capacity. […]
The Special Autonomy Fund has failed to become a push factor to eliminate the so-called natural resources curse in Papua and West Papua provinces. The fund has been used to increase gross domestic product but it did not improve other sectors especially education, health sanitation and forest condition in those provinces. […]
Bank Indonesia (BI) decided to increase its benchmark 7-day reverse repurchase rate on December 22, 2022, by 25 basis points to 5.5%. The central bank also raised its deposit facility and lending facility rates by the same amount to 4.75% and 6.25%, respectively. […]
President Joko “Jokowi” Widodo announced that Indonesia would start banning the export of bauxite ores starting June 2023 to encourage the development of bauxite processing and refining industry at home. His statement came days after Indonesia filed an expected appeal against a World Trade Organization (WTO) panel ruling that was in favor of the European Union (EU) in a dispute […]
The newly appointed Indonesian Military (TNI) Commander Adm. Yudo Margono should have a new and breakthrough concept that prioritizes the role of Indonesian Navy in the future. This is due to the heightened tension of military competition in the South China Sea between the United States and China. On domestic issue, Margono should minimize, or better terminate, the prolonged conflicts in […]
Indonesia has invited Scandinavian countries of Denmark, Finland, Norway and Sweden to invest in the new renewable energy sector in the country through the Indonesia-Nordic Energy Investment Day: Collaboration to Achieve Net Zero Emission Target. This is part of the Bali Compact G20 2022, where the host country sees that forging international partners is critical in the energy transition process, […]
The 2022 World Cup in Qatar has entered the quarterfinal stage. Brazil and France have become the most favorite team to lift up the coveted trophy. Indonesia, despite its national team has never reached the World Cup, is not an exception. The country has 69% of its 270 million population as soccer lovers, according to […]
Sweden and Indonesia have agreed on 10 points of cooperation during Sweden-Indonesia Sustainable Partnership (SISP) 2022. SISP is a partnership between Sweden and Indonesia for sustainability development to drive bilateral collaboration and business partnerships toward Sustainable Development Goals (SDGs). Companies also presented their products on sustainable and renewable energy during the event in Jakarta on December 5 and 6, […]
Indonesia and Sweden have committed to establish an agreement for Sustainable Development Goals and established the Agenda 2030 through the Sweden-Indonesia Sustainability Partnership 2022 (SISP). Both countries’ representatives signed the partnership in Jakarta on December 5, 2022. […]
President Joko “Jokowi” Widodo reiterated that Indonesia would continue to develop the nickel downstream industry program despite losing the lawsuit by the European Union at the World Trade Organization over the nickel ore export ban. In response to the WTO ruling in favor of the EU, Jokowi instructed his ministers to appeal the decision. He argued that the decision did not […]
China has dominated Indonesia’s nickel industry, according to a lawmaker and an observer. A member of the House of Representatives’ Commission VII overseeing energy and mineral resources and industry, Zulfikar Hamonangan, probed Minister of Energy and Mineral Resource Arifin Tasrif in a hearing that 90% of nickel mines in Indonesia was under China’s control. […]
The government would rely on its abundant natural resources – especially coal and nickel – in facing the 2023 possible economic crisis despite the country’s massive debts, a source within the government said. According to Bank Indonesia (BI), Indonesia’s external debt was recorded at US$ 394.6 billion at the end of the third quarter of 2022. […]
The Indonesian government will file an appeal against the World Trade Organization (WTO)’s ruling, stating that the country lost in a lawsuit against its ban on nickel ore export submitted by the European Union. […]