Jokowi unveils list of ministers in Advanced Indonesia Cabinet

President Joko Widodo and Vice President Ma’ruf Amin have officially announced the names of ministers forming the new Advanced Indonesia Cabinet. The ministers are expected to serve throughout Mr Widodo’s second term from 2019 to 2024.

16 ministers and minister-level officials from Mr Widodo’s previous Working Cabinet remain in his second administration, while several ministries and agencies have been merged or rearranged.

The following contains the names of ministers in the Advanced Indonesia Cabinet and their background:

  1. Coordinating Minister for Political, Legal, and Security Affairs: Mahfud M.D. [former Chief Justice of the Constitutional Court, 2008-2011]

  2. Coordinating Minister for Economic Affairs: Airlangga Hartarto [former Minister of Industry in the previous cabinet; Chairman of the Functional Groups (Golkar) Party]

  3. Coordinating Minister for Human Development and Culture: Muhajir Effendy [former Minister of Education in the previous cabinet]

  4. Coordinating Minister for Maritime Affairs and Investment: Luhut Binsar Panjaitan [retains his position from the previous cabinet]

  5. Minister of Defence: Prabowo Subianto [2014 and 2019 presidential candidate; Chairman of the Great Indonesia Movement (Gerindra) Party]

  6. Minister of State Secretariat: Pratikno [retains his position from the previous cabinet]

  7. Minister of Home Affairs: Tito Karnavian [former National Police Chief, 2016-2019]

  8. Minister of Foreign Affairs: Retno Marsudi [retains her position from the previous cabinet]

  9. Minister of Religious Affairs: Fachrul Razi [former Deputy Commander of the Armed Forces, 1999-2000]

  10. Minister of Law and Human Rights: Yasonna Laoly [retains his position from the previous cabinet]

  11. Minister of Finance: Sri Mulyani Indrawati [retains her position from the previous cabinet]

  12. Minister of Education and Culture: Nadiem Makarim [co-founder and former CEO of Gojek]

  13. Minister of Health: Dr Terawan [former Head of the Army Central Hospital]

  14. Minister of Social Affairs: Juliari Batubara [member of the Indonesian Democratic Party-Struggle (PDIP)]

  15. Minister of Manpower: Ida Fauziah [member of the National Awakening Party (PKB); 2018 Central Java deputy gubernatorial candidate]

  16. Minister of Industry: Agus Gumiwang Kartasasmita [former Minister of Social Affairs in the previous cabinet]

  17. Minister of Trade: Agus Suparmanto [member of the National Awakening Party (PKB)]

  18. Minister of Energy and Mineral Resources: Arifin Tasrif [former Indonesian Ambassador to Japan, 2017-2019; former CEO of PT Pupuk Indonesia]

  19. Minister of Public Works and Public Housing: Basuki Hadimuljono [retains his position from the previous cabinet]

  20. Minister of Transportation: Budi Karya Sumadi [retains his position from the previous cabinet]

  21. Minister of Communications and Informatics: Johnny G. Plate [member of the National Democratic (Nasdem) Party; entrepreneur]

  22. Minister of Agriculture: Syahrul Yasin Limpo [former Governor of South Sulawesi, 2008-2018]

  23. Minister of Environment and Forestry: Siti Nurbaya Bakar [retains her position from the previous cabinet]

  24. Minister of Maritime Affairs and Fishery: Edhy Prabowo [member of Gerindra]

  25. Minister of Villages, Disadvantaged Regions, and Transmigration: Abdul Halim Iskandar [member of PKB; former Speaker of the East Java Regional House of Representatives, 2014-2019]

  26. Minister of Agrarian Affairs, Spatial Planning, and Forestry: Sofyan Djalil [retains his position from the previous cabinet]

  27. Minister of National Development Planning/Head of the National Development Planning Agency: Suharso Monoarfa [Chairman of the United Development Party (PPP)]

  28. Minister of State Apparatus Empowerment and Bureaucratic Reforms: Tjahjo Kumolo [former Minister of Home Affairs in the previous cabinet]

  29. Minister of State-owned Enterprises: Erick Thohir [former Chairman of the Jokowi-Ma’ruf National Campaign Team; entrepreneur]

  30. Minister of Cooperatives and Small and Medium Enterprises: Teten Masduki [former Chief of Presidential Staff, 2015-2018]

  31. Minister of Tourism and Creative Economy: Wishnutama [former CEO of PT Net Mediatama Televisi]

  32. Minister of Women’s Empowerment and Child Protection: Gusti Ayu Bintang Darmavati [former Denpasar City Government official]

  33. Minister of Research and Technology/Head of the National Research and Innovation Agency: Bambang Brodjonegoro [former Minister of Finance and Head of the National Development Planning Agency in the previous cabinet]

  34. Minister of Youth and Sports: Zainudin Amali [member of Golkar]

  35. Chief of Presidential Staff: Moeldoko [retains his position from the previous cabinet]

  36. Cabinet Secretary: Pramono Anung [retains his position from the previous cabinet]

  37. Head of the Investment Coordinating Board: Bahlil Lahadalia [former Chairman of the Indonesian Young Entrepreneurs’ Association’s Central Governing Body, 2015-2019]

  38. Attorney General: S.T. Burhanuddin [former civil prosecutor]

Indonesia Investment Corporation

Afghanistan  Investment Corporation,  Albania  Investment Corporation,  Algeria  Investment Corporation,  Andorra  Investment Corporation,  Angola  Investment Corporation,  Antigua and Barbuda  Investment Corporation,  Argentina  Investment Corporation,  Armenia  Investment Corporation,  Australia  Investment Corporation,  Austria  Investment Corporation,  Azerbaijan  Investment Corporation,  Bahamas  Investment Corporation,  Bahrain  Investment Corporation,  Bangladesh  Investment Corporation,  Barbados  Investment Corporation,  Belarus  Investment Corporation,  Belgium  Investment Corporation,  Belize  Investment Corporation,  Benin  Investment Corporation,  Bhutan  Investment Corporation,  Bolivia  Investment Corporation,  Bosnia and Herzegovina  Investment Corporation,  Botswana  Investment Corporation,  Brazil  Investment Corporation,  Brunei  Investment Corporation,  Bulgaria  Investment Corporation,  Burkina Faso  Investment Corporation,  Burundi  Investment Corporation,  Cabo Verde  Investment Corporation,  Cambodia  Investment Corporation,  Cameroon  Investment Corporation,  Canada  Investment Corporation,  Central African Republic (CAR)  Investment Corporation,  Chad  Investment Corporation,  Chile  Investment Corporation,  China  Investment Corporation,  Colombia  Investment Corporation,  Comoros  Investment Corporation,  Congo Democratic Republic of the  Investment Corporation,  Congo  Investment Corporation,  Costa Rica  Investment Corporation,  Cote d’Ivoire  Investment Corporation,  Croatia  Investment Corporation,  Cuba  Investment Corporation,  Cyprus  Investment Corporation,  Czechia  Investment Corporation,  Denmark  Investment Corporation,  Djibouti  Investment Corporation,  Dominica  Investment Corporation,  Dominican Republic  Investment Corporation,  Ecuador  Investment Corporation,  Egypt  Investment Corporation,  El Salvador  Investment Corporation,  Equatorial Guinea  Investment Corporation,  Eritrea  Investment Corporation,  Estonia  Investment Corporation,  Eswatini  Investment Corporation,  Ethiopia  Investment Corporation,  Fiji  Investment Corporation,  Finland  Investment Corporation,  France  Investment Corporation,  Gabon  Investment Corporation,  Gambia  Investment Corporation,  Georgia  Investment Corporation,  Germany  Investment Corporation,  Ghana  Investment Corporation,  Greece  Investment Corporation,  Grenada  Investment Corporation,  Guatemala  Investment Corporation,  Guinea  Investment Corporation,  Guinea-Bissau  Investment Corporation,  Guyana  Investment Corporation,  Haiti  Investment Corporation,  Honduras  Investment Corporation,  Hungary  Investment Corporation,  Iceland  Investment Corporation,  India  Investment Corporation,  Indonesia  Investment Corporation,  Iran  Investment Corporation,  Iraq  Investment Corporation,  Ireland  Investment Corporation,  Israel  Investment Corporation,  Italy  Investment Corporation,  Jamaica  Investment Corporation,  Japan  Investment Corporation,  Jordan  Investment Corporation,  Kazakhstan  Investment Corporation,  Kenya  Investment Corporation,  Kiribati  Investment Corporation,  Kosovo  Investment Corporation,  Kuwait  Investment Corporation,  Kyrgyzstan  Investment Corporation,  Laos  Investment Corporation,  Latvia  Investment Corporation,  Lebanon  Investment Corporation,  Lesotho  Investment Corporation,  Liberia  Investment Corporation,  Libya  Investment Corporation,  Liechtenstein  Investment Corporation,  Lithuania  Investment Corporation,  Luxembourg  Investment Corporation,  Madagascar  Investment Corporation,  Malawi  Investment Corporation,  Malaysia  Investment Corporation,  Maldives  Investment Corporation,  Mali  Investment Corporation,  Malta  Investment Corporation,  Marshall Islands  Investment Corporation,  Mauritania  Investment Corporation,  Mauritius  Investment Corporation,  Mexico  Investment Corporation,  Micronesia  Investment Corporation,  Moldova  Investment Corporation,  Monaco  Investment Corporation,  Mongolia  Investment Corporation,  Montenegro  Investment Corporation,  Morocco  Investment Corporation,  Mozambique  Investment Corporation,  Myanmar  Investment Corporation,  Namibia  Investment Corporation,  Nauru  Investment Corporation,  Nepal  Investment Corporation,  Netherlands  Investment Corporation,  New Zealand  Investment Corporation,  Nicaragua  Investment Corporation,  Niger  Investment Corporation,  Nigeria  Investment Corporation,  North Korea  Investment Corporation,  North Macedonia  Investment Corporation,  Norway  Investment Corporation,  Oman  Investment Corporation,  Pakistan  Investment Corporation,  Palau  Investment Corporation,  Palestine  Investment Corporation,  Panama  Investment Corporation,  Papua New Guinea  Investment Corporation,  Paraguay  Investment Corporation,  Peru  Investment Corporation,  Philippines  Investment Corporation,  Poland  Investment Corporation,  Portugal  Investment Corporation,  Qatar  Investment Corporation,  Romania  Investment Corporation,  Russia  Investment Corporation,  Rwanda  Investment Corporation,  Saint Kitts and Nevis  Investment Corporation,  Saint Lucia  Investment Corporation,  Saint Vincent and the Grenadines  Investment Corporation,  Samoa  Investment Corporation,  San Marino  Investment Corporation,  Sao Tome and Principe  Investment Corporation,  Saudi Arabia  Investment Corporation,  Senegal  Investment Corporation,  Serbia  Investment Corporation,  Seychelles  Investment Corporation,  Sierra Leone  Investment Corporation,  Singapore  Investment Corporation,  Slovakia  Investment Corporation,  Slovenia  Investment Corporation,  Solomon Islands  Investment Corporation,  Somalia  Investment Corporation,  South Africa  Investment Corporation,  South Korea  Investment Corporation,  South Sudan  Investment Corporation,  Spain  Investment Corporation,  Sri Lanka  Investment Corporation,  Sudan  Investment Corporation,  Suriname  Investment Corporation,  Sweden  Investment Corporation,  Switzerland  Investment Corporation,  Syria  Investment Corporation,  Taiwan  Investment Corporation,  Tajikistan  Investment Corporation,  Tanzania  Investment Corporation,  Thailand  Investment Corporation,  Timor-Leste  Investment Corporation,  Togo  Investment Corporation,  Tonga  Investment Corporation,  Trinidad and Tobago  Investment Corporation,  Tunisia  Investment Corporation,  Turkey  Investment Corporation,  Turkmenistan  Investment Corporation,  Tuvalu  Investment Corporation,  Uganda  Investment Corporation,  Ukraine  Investment Corporation,  United Arab Emirates (UAE)  Investment Corporation,  United Kingdom (UK)  Investment Corporation,  United States of America (USA)  Investment Corporation,  Uruguay  Investment Corporation,  Uzbekistan  Investment Corporation,  Vanuatu  Investment Corporation,  Vatican City (Holy See)  Investment Corporation,  Venezuela  Investment Corporation,  Vietnam  Investment Corporation,  Yemen  Investment Corporation,  Zambia  Investment Corporation,  Zimbabwe

 

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Go Public in Indonesia, There are many advantages for a company to go public

(a) Providing Companies Access to Long-Term Funding

This is the primary consideration for companies that want to go public and become a public company. Capital obtained from the capital market can be used to increase working capital in order to support the growth of the company, to pay out debts and to make investments or acquisitions.

Going public will also increase the equity value of a company so that the company may have the optimal capital structure.

After becoming a public company, a company can take advantage of the capital market to obtain further funding, through limited public offering, which is restricted to current investors, or through secondary offering and private placement. After going public, attracting strategic investors to invest in the company will also be easier.

By becoming a public company listed at the Indonesia Stock Exchange, banks or other financial institutions will have more trust in the company. The banks can get acquainted with the company’s financial condition anytime through disclosures of information submitted by the company through the Stock Exchange. Under these conditions, not only will the lending process become relatively easier, but the interest rate will possibly become lower considering the credit risk of publicly listed companies is relatively lower compared to private companies.

Aside from that, by becoming a public company, the company will have easier access to issue bonds, both short term and long term. In general, bond investors prefer if a company issuing the bonds is well known and maintains a good company image. This condition will not only greatly help facilitate the issuance of debt, but also allows the company to issue a bond with a competing rate of interest.

(b) Increasing the Company’s Value

By becoming a public company listed at the Indonesia Stock Exchange, the public can easily obtain information on the movement of the company’s value at any time. Any improvements in the company’s operational and financial performance will generally have a positive impact on the company’s share price, which will ultimately increase the value of the company as a whole.

If the company founder/owner needs funding for other purposes, divestitures can also be done through the Indonesia Stock Exchange with optimal value. An active trading of shares in Indonesia Stock Exchange can create a price that can be used as a reference by shareholders for their transaction.

(c) Improves the Image of the Company

By becoming a public company listed at the Indonesia Stock Exchange, information and news relating to the company will be frequently covered by the media, data providers and securities analysts. These publications are provided free of charge and will help enhance the company’s image and exposure of the products produced by the company, creating new opportunities and a broader customer base for the business.

(d) Encouraging Employee Loyalty

If a company’s shares are traded in the Stock Exchange, employees will gladly receive incentives in the form of shares. By getting the employees involved in the company growth process, it will help create a sense of ownership among the employees, which in the end can improve employee professionalism and work performance.

In addition, an employee stock allocation program or stock option is also a strategy a company can use to retain key employees, without spending the company’s cash. Employees can benefit from selling their stock incentives obtained from their company through the Indonesia Stock Exchange.

(e) The Ability to Maintain Business Sustainability

One of the common issues that trigger’s the downfall of a family owned business is a dispute between family members. By becoming a public company, family members can own shares of the company in their respective portions and can sell or buy more shares through the Indonesia Stock Exchange. The founding shareholders can also entrust their shareholdings to the company’s management who are more professionally competent and can easily oversee the company through a financial report or information disclosure mandated by authorities.

In the event a company is suffering financial difficulties, failure to repay debts to creditors and requires debt restructuring, the debt to equity swap strategy can be an alternate way out for both parties. Creditors, who received shares from debt conversions, can sell the shares through trading mechanisms at the Indonesia Stock Exchange. Such strategy will not be easy to do if the debtor is a private company.

(f) Tax Incentives

To encourage companies to go public, the government provides tax incentives through Government Regulation No. 56 Year 2015 Concerning Amendment on Government Regulation No. 77 Year 2013 Concerning Reduction on Income Tax Rate for Domestic Public Corporation Taxpayer. The Domestic Public Corporation Taxpayer can obtain a decrease in income tax rate (PPh) of 5% lower than the price of the mandatory domestic entity income tax, as long as 40% of the company shares are publicly listed and traded on the Exchange and have at least 300 shareholders.

The Best Private Equity in The World

Private Equity is an asset class and investing style that consists of buying an ownership interest in operating companies that are private – not publicly-traded.  Common strategies within P.E. include

(LBO), venture capital, growth capital, distressed investments, and mezzanine capital. Typically, a PE firm looks for firms that are undervalued, so that acquiring the company will create value for the PE firm. Alternatively, a PE firm will look for a target firm that will synergize with its current operations to create value.  In this article, you’ll find a list of the top 10 private equity firms in the world.

PE firms raise large amounts of capital (equity and debt) to buy companies, hold them for a period of time, and typically sell them as an “exit strategy”. The total amount of capital raised is how we have ranked the top ten private equity firms in the world.

Who are the top 10 private equity firms in the world?

(Top 10 P.E. firms sorted by total capital raised – from Wikipedia)

  1. The Carlyle Group – Washington D.C.
  2. Kohlberg Kravis Roberts (KKR) – New York City
  3. The Blackstone Group – New York City
  4. Apollo Global Management – New York City
  5. TPG – Fort Worth
  6. CVC Capital Partners – Luxembourg
  7. General Atlantic – New York City
  8. Ares Management – Los Angeles
  9. Clayton Dubilier & Rice – New York City
  10. Advent International – Boston

Gov’t Relocates Capital to East Kalimantan

President Joko “Jokowi” Widodo has officially announced East Kalimantan as location of Indonesia’s new capital.

North Penajam Paser and Kutai Kartanegara regencies in the province are the exact location of the new capital.

“The Government has conducted in-depth research for the past three years. (From) the result, the new capital will be built in the most ideal location, which is in North Penajam Paser and Kutai Kartanegara regencies in East Kalimantan,” President Jokowi said in a press conference at the State Palace, Jakarta, Monday (26/8).

East Kalimantan, the President said, has a minimum risk of natural disasters (e.g. floods, earthquakes, tsunamis, forest fires, volcano eruptions, and landslides) and is located at the center of Indonesia, adding that  the location has close proximity to developed cities such as Balikpapan and Samarinda which already have relatively complete infrastructure.

The Government also owns 180 thousand hectares of land in the location, he added.

The President added that development of the new capital is expected to cost up to Rp466 trillion, 19% of which will be sourced from the State Budget. In the meantime, the remaining budget will be obtained through government cooperation with business entity scheme, private direct investment, and state-owned enterprises.

Jakarta, the President added, will remain as a development priority, adding that the city will be developed as a business and financial city, trade and service hub on a regional and global scale.

“The Special Capital Region of Jakarta Provincial Government’s plan to conduct urban regeneration, which is budgeted at Rp571 trillion, will continue to be carried out and the discussion is already at the technical level and ready to be executed,” President Jokowi said.

Nevertheless, the President acknowledged that capital relocation requires approval from the People’s Representative Council (DPR) and said that the Government has already sent a letter to  Speaker of DPR along with research results of the new capital.

“Concerning the matter, the Government will immediately prepare a related bill to be submitted to the DPR,” the President said.

International Business Opportunity

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Opportunities in Vanuatu, Business Opportunities in Vatican City (Holy See), Business Opportunities in Venezuela, Business Opportunities in Vietnam, Business Opportunities in Yemen, Business Opportunities in Zambia, Business Opportunities in Zimbabwe

 

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Stock Exchange List in The World

Indonesia Investment Corporation features a list of world stock exchanges, securities commissions and other regulatory agencies, as well as stock market resources.

Top 5 Stock Exchanges

New York Stock Exchange (NYSE) – Headquartered in New York City. Market Capitalization (2011, USD Billions) – 14,242; Trade Value (2011, USD Billions) – 20,161.

NYSE Logo

The largest stock exchange in the world by both market capitalization and trade value. NYSE is the premier listing venue for the world’s leading large- and medium-sized companies. Operated by NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., NYSE offers a broad and growin array of financial products and services in cash equities, futures, options, exchange-traded products (ETPs), bonds, market data, and commercial technology solutions. Featuring more than 8000 listed issues it includes 90% of the Dow Jones Industrial Average and 82% of the S&P 500 stock market indexes volume.

NASDAQ OMX – Headquartered in New York City. Market Capitalization (2011, USD Billions) – 4,687; Trade Value (2011, USD Billions) – 13,552.NASDAQ OMX Logo

Second largest stock exchange in the world by market capitalization and trade value. The exchange is owned by NASDAQ OMX Group which also owns and operates 24 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed invome, derivatives, commodities, futures and structured products. It is a home to approximately 3,400 listed companies and its main index is the NASDAQ Composite, which has been published since its inception. Stock market is also followed by S&P 500 index.

Tokyo Stock Exchange – Headquartered in Tokyo. Market Capitalization (2011, USD Billions) – 3,325; Trade Value (2011, USD Billions) – 3,972.

Tokyo Stock Exchange Logo

Third largest stock exchange market in the world by aggregate market capitalization of its listed companies. It had 2,292 companies which are separated into the First Section for large companies, the Second Section for mid-sized companies, and the Mothers section for high growth startup companies. The main indices tracking Tokyo Stock Exchange are the Nikkei 225 index of companies selected by the Nihon Keizai Shimbun, the TOPIX index based on the share prices of First Section companies, and the J30 index of large industrial companies. 94 domestic and 10 foreign securities companies participate in TSE trading. The London Stock Exchange and the Tokyo Stock Exchange are developing jointly traded products and share technology.

London Stock Exchange – Headquartered in London. Market Capitalization (2011, USD Billions) – 3,266; Trade Value (2011, USD Billions) – 2,871.

London Stock Exchange Logo

Located in London City, it is the oldest and fourth-largest stock exchange in the world. The Exchange was founded in 1801 and its current premises are situated in Paternoster Square close to St Paul’s Cathedral. It is the most international of all the world’s stock exchanges, with around 3,000 companies from over 70 countries admitted to trading on its markets. The London Stock Exchange runs several markets for listing, giving an opportunity for different sized companies to list. For the biggest companies exists the Premium Listed Main Market, while in terms of smaller SME’s the Stock Exchange operates the Alternative Investment Market and for international companies that fall outside the EU, it operates the Depository Receipt scheme as a way of listing and raising capital.

Shanghai Stock Exchange – Headquartered in Shanghai. Market Capitalization (2011, USD Billions) – 2,357; Trade Value (2011, USD Billions) – 3,658.

Shanghai Stock Exchange Logo

It is the world’s 5th largest stock market by market capitalization and one of the two stock exchanges operating independently in the People’s Republic of China. Unlike the Hong Kong Stock Exchange, the SSE is not entirely open to foreign investors. The main reason is tight capital account controls by Chinese authorities. The securities listed at the SSE include the three main categories of stocks, bonds, and funds. Bonds traded on SSE include treasury bonds, corporate bonds, and convertible corporate bonds. The largest company in SSE is PetroChina (market value – 3,656.20 billion).

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Foreign Investment Realization in Indonesia 2018

The Government continues to encourage investment realization in Indonesia through various strategies to attract investors. As a result, realization of investment in Q1 2018 increased by 11.8%, which amounted to Rp 185.3 trillion, compared to the realization of investment in the same period in 2017, which amounted to Rp 165.8 trillion.

5 Sectors with the Biggest Investment Realization

The increase in investment realization in the first quarter of 2018 (January – March 2018) is a combination of investment realization of Domestic Investment (PMDN) and Foreign Investment (PMA). The realization of domestic investment in Indonesia alone was recorded at Rp 76.4 trillion, 11% higher than the same quarter last year which was Rp 68.8 trillion.

Meanwhile, the realization of foreign investment in Indonesia was IDR 108.9 trillion, 12.4% higher than Indonesia’s foreign investment last year which was IDR 97 trillion. From the realization of investment (PMA and PMDN), it absorbs more than 200,000 Indonesian workers and helps boost the people’s economy.

Based on the location of the project, 5 locations with the highest investment realization value were West Java with a value of Rp 37 trillion, DKI Jakarta Rp. 28.9 trillion, Central Java Rp. 16.1 trillion, Banten Rp. 15.5 trillion, and Riau Rp. 9.1 trillion.

Based on the business sector, 5 sectors with the largest investment realization were the housing sector, industrial area and offices with an investment value of Rp 27.6 trillion (14.9%); metal, machinery and electronic industry sector of Rp. 22.7 trillion (12.3%); electricity, gas and water sector amounting to Rp. 19.3 trillion (10.4%); the food and plantation sector in the amount of Rp. 17.9 trillion (9.6%); then the transportation, warehouse and telecommunications sector amounted to Rp. 14.7 trillion (7.9%).

Furthermore, according to BKPM, based on the total investment entered in Q1 2018, the highest investment value came from Singapore with an investment of US$ 2.6 billion (32.6%). Japan with an investment of US$ 1.4 billion (16.7%), then South Korea with an investment of US$ 0.9 billion (11.6%), and China with an investment of US$ 0.7 billion (8.3%).

The increase in realization of these investments does not include the e-commerce or trade sector electronically. According to Thomas Lembong, there are still many business actors in the sector who have not fulfilled administrative obligations so that it is difficult to detect how much the investment value is. If this sector is recorded, then of course the realization value of investment in the first quarter of 2018 will be even greater.

Optimism to be able to achieve the target of investment realization in 2018 is not only based on existing data, but also government efforts to increase investment competitiveness in the eyes of the world. One of the incentives provided by the government is the provision of tax holidays or income tax reduction facilities issued by the Minister of Finance. It is expected that with this facility, in 2018 there will be a significant increase in investment in priority business sectors that enter the pioneer industry class.

Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT)

The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) collaboration was established at the 1st Ministerial Meeting (PTM) in Langkawi, Malaysia, on July 20, 1993. IMT-GT is intended to improve the welfare and economic growth of the community in the border regions -negara IMT-GT. Through IMT-GT cooperation, the private sector continues to be encouraged to become an “engine of growth”. For this purpose, a forum for entrepreneurs in the IMT-GT area called the Joint Business Council (JBC) has been formed. JBC is actively involved in the IMT-GT SOM / MM series every year.

The Indonesian territory that is part of the IMT-GT collaboration is the provinces: Aceh, Bangka-Belitung, Bengkulu, Jambi, Lampung, South Sumatra, Riau, Riau Islands, North Sumatra and West Sumatra

IMT-GT development

At the 5th IMT-GT Summit in Hanoi, Vietnam, on October 28, 2010, the IMT-GT leaders adopted the Joint Statement of the 5th IMT-GT Summit which included: the development of IMT-GT projects especially those relating to embodiment of sub-regional connectivity in supporting the ASEAN Connectivity, Mid-Term Review of the IMT-GT Roadmap 2007-2011, Business Process Review conducted by the Eminent Person Group (EPG), the importance of the role of the private sector and local government in IMT-GT development ADB as IMT-GT Development Partner, and cooperation with IMT-GT with Japan in the Economic Research Institute of ASEAN and East Asia (ERIA). Until now there have been 15 Senior Official Meetings (SOM) and Ministerial Level Meetings (MM) and 5 IMT-GT Summits.

IMT-GT Sub-Regional Connectivity

The 2nd IMT-GT Summit in Cebu, Philippines, 12 January 2007 has agreed to develop the IMT-GT Connectivity Corridor to be the center of economic activities that can encourage economic growth in the sub-region.

Implementation of the IMT-GT Connectivity Corridor concept in 5 (five) economic corridors which are considered the most potential and have relatively high traffic and need to be improved, namely: (i) Songkhla-Penang-Medan Economic Corridor economic corridor, (ii) Malacca Strait economic corridor , (iii) Banda Aceh-Medan-Dumai-Palembang economic corridor, (iv) Melaka-Dumai economic corridor and (v) Ranong-Phuket-Aceh economic corridor.

At the 4th Summit in Hua Hin, Thailand, on February 28, 2009 the IMT-GT leaders again stressed the importance of the construction of the IMT-GT Connectivity Corridors. Development of connectivity corridors needs to be included in national development planning. In addition, the IMT-GT leaders also saw the need to strengthen maritime transport links and trade through the Malacca Strait. In this case there have been 13 (thirteen) ports that are incorporated in the IMT-GT Coastal Network Joint Business Councils (JBCs).

IMT-GT has established IMT-GT Baseline Priority Projects Connectivity (PCPs) in order to improve connectivity in the IMT-GT area. Among projects within the framework of PCPs are the Sumatra Ports Development Project, Melaka-Dumai Economic Corridor Multimodal Transport Project, Melaka Pekanbaru Power Interconnection, and Development of Aceh Highway Facilities.

At the 5th Summit in Hanoi, October 2010, the IMT-GT leaders stated that PCPs can be concrete and visible building blocks for the ASEAN Master Plan on Connectivity.

Source : https://kemlu.go.id/portal/en/read/162/halaman_list_lainnya/indonesia-malaysia-thailand-growth-triangle-imt-gt

Moody’s Raises Indonesia’s Rating to Baa2 with Stable Outlook

The credit rating agency Moody’s has today awarded a rating upgrade for Indonesia, from Baa3 positive outlook to Baa2 stable outlook (equivalent to BBB level). Thus, Indonesia has possessed Baa2/BBB rating from four institutions, namely Fitch (December 2017), JCRA (February 12, 2018), R&I (March 7, 2018), and Moody’s.

In its report, Moody’s stated that the rating upgrade is supported, among others, by the more credible and effective policy framework of the Government and other authorities in supporting the macroeconomic stability. According to Moody’s, more prudent fiscal policy and monetary conducive policy can reduce pressure from both internal and external sources. Moody’s also appraised that the improved diversification of export bases has helped to maintain the economic stability, especially in the improvement of the current account deficit. In addition, Indonesia’s high and stable economic growth, as well as the healthy banking system, also became a positive note in the upgrading of Indonesia’s credit rating.

From a fiscal perspective, the deficit in the State Budget (APBN) which is always below 3 percent indicates the Government’s discipline in maintaining sustainability and fiscal health.
Based on the Moody’s projection, by taking into account the financing needs for productive expenditure acceleration, the Government of Indonesia’s debt level will remain below other countries in the investment grade group. This demonstrates the optimism of external parties towards Indonesia’s fiscal health, both for current and the future.

According to Moody’s rating definition, Baa2 rating implies that Indonesian securities belong to the category of “moderate credit risk” and “medium grade”. Stable outlook describes the rating position that is predicted to be stable in the foreseeable future, as well as showing a balanced risk. Some countries in the same rating position as Indonesia among others are Spain, Colombia, Uruguay, Philippines, Bulgaria, India, Italy, and Panama.

The decision to upgrade Indonesia’s credit rating indicates that the Government’s structural and fiscal reforms along with other stakeholders including Bank Indonesia are considered satisfying. Nevertheless, the Government is also aware that there are still a lot of challenges to overcome in encouraging the more sustainable and equitable economic growth. The Government has and will continue to take proactive actions to actualize such targets through the management of the state budget along with credible and effective fiscal policies.

Nufransa Wira Sakti – Head of Communications and Information Services Bureau

Ministry of Finance – Republic of Indonesia

General Secretariat of Communication Bureau and Information Service