Tax reform to help Indonesia escape middle-income trap: minister
JAKARTA -Finance Minister Sri Mulyani Indrawati has said that tax reform is part of efforts to help Indonesia escape the middle-income trap. “To avoid the middle-income trap, we must conduct fiscal consolidation, particularly as a result of the pandemic, to create a sound state budget…
Indonesia to Benefit Economically from G20 Presidency: Minister
JAKARTA -Coordinating Minister for Economic Affairs Airlangga Hartarto is confident that Indonesia can reap economic benefits from its G20 presidency in 2022. “We are expecting an increase in domestic consumption by up to Rp 1.7 trillion [$119.2 million]. [The G20 presidency] will also add Rp…
Chief Patrick is Patron for Indonesia Economic Forum’s Climate Initiative
Name: Chief PatrickTitle: Founder of Clover Climate AllianceLinkedIn URL: linkedin.com/in/clover-chief-patrickPatron of the IEF Climate Change Initiatives We are pleased to announce that Chief Patrick, Founder of Clover Climate Alliance, has accepted the invitation to become the Patron of IEF – Climate Initiative. As the global community…
Indonesia Tells Banks to Disburse 30% of Loans to Small Firms
JAKARTA -Indonesia’s central bank will require lenders to disburse at least 30% of their loans to small companies, part of a broader effort to revive slow credit growth that’s stalled the economic recovery. Banks must allocate at least 20% of their total loans to micro,…
Alpha JWC, Gojek VC arm co-lead pre-series A round of Indonesian media app
JAKARTA -Indonesia-based audio content startup Noice has raised a seven-figure US dollar amount of pre-series A funding in a round co-led by Alpha JWC Ventures and Gojek’s investment arm Go-Ventures. Kinesys Group and Kenangan Fund – an angel investment fund that was initiated by Kopi Kenangan’s founders…
EHang 216 flying taxi to be tested in Bali, Indonesia this October – public will get to use service in 2022
JAKARTA -Earlier in April, Indonesian private car importer Prestige Image Motorcars announced that it would bring in the EHang 216, which is a passenger drone developed by Guangzhou EHang Intelligent Technology Co that is capable of being a flying taxi. The company recently revealed this month…
Telkomsel to sell 4,000 telecom towers to Mitratel for USD435m
JAKARTA – Indonesian mobile network operator (MNO) Telkomsel (Telekomunikasi Selular) has struck a deal to sell 4,000 telecom towers to Dayamitra Telekomunikasi (Mitratel) for IDR6.2 trillion (USD435.2 million). Under the terms of their agreement, Telkomsel is signing a ten-year leaseback deal with Mitratel to use…
Emission Reduction Target in the Indonesia Updated NDC Failed to Reflect the Urgency of Climate Crisis
Jakarta– Despite targeting carbon neutrality by 2060 or earlier in the Nationally Determined Contribution (Updated NDC) and Long-term Strategy on Low Carbon and Climate Resilience (LTS-LCCR 2050) documents submitted to the UNFCCC, the Institute for Essential Services Reform (IESR) views that the emission reduction target…
BPS: June Exports US$18.55 B, Soared 54.46%
JAKARTA- The Central Statistics Agency (BPS) announced Indonesia’s export data for the period of June 2021. Exports increased sharply, according to market forecasts. On Thursday (15/7/2021), Head of BPS Margo Yuwono reported last month’s export value was US$18.55 billion. An increase of 54.46% compared to the same…
Minister pushes for investment acceleration amid economic growth
JAKARTA – Coordinating Economic Affairs Minister Airlangga Hartarto encouraged all economic players to capitalize on the economic growth momentum by expediting investment. “I encourage us to jointly take advantage of the growth momentum by accelerating investment and also continue to support government policies in controlling…