Category Archives: General Info on Indonesia

Jokowi Discusses Potential Investment of US$15 Billion with Exxon

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Indonesia’s President Joko Widodo (Jokowi) met with Chairman of Exxon Mobil Corporation Darren Woods to discuss the company’s plan on investing as much as US$15 billion in the energy sector in Indonesia.

During the meeting that took place in San Francisco, the United States, on Wednesday (November 15) local time, the president welcomed Exxon’s plan to invest its capital in the development of a green petrochemical refinery and carbon capture storage (CCS) facility.

“I would like to appreciate the plan on the cooperation in developing a green petrochemical refinery and carbon capture storage facility, with the investment value reaching US$15 billion,” President Jokowi told Chairman Woods, as cited from a statement received from his secretariat in Jakarta on Thursday.

The head of state noted that the CCS facility planned to be developed by Exxon would become the largest one in the Southeast Asian region, while the petrochemical complex would emerge as one of the most advanced in the world.

“I am pleased to hear that the CCS facility will be the largest in Southeast Asia, while the petrochemical complex planned to be built by Exxon will emerge among the world’s most advanced ones,” he remarked.

Following the meeting, Foreign Affairs Minister Retno Marsudi, who accompanied the president, confirmed that Exxon is planning to build one of the most advanced green petrochemical refineries in the world.

Bearing that in mind, President Jokowi continues to push for the realization of the planned US$15 billion investment of Exxon, she stated.

The president also invited the US-based multinational oil and gas corporation to invest in the field of new and renewable energy as well as the development of green infrastructure, including in Nusantara, Indonesia’s future capital city.

Coordinating Economic Affairs Minister Airlangga Hartarto and Trade Minister Zulkifli Hasan also joined the meeting.

The Largest in the World, This is the Solution to Extend the Life of Indonesia’s Nickel Reserves

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The Ministry of Energy and Mineral Resources (ESDM) claims that nickel commodity reserves in Indonesia are still the largest in the world or 23 percent of reserves on earth. This country’s nickel resources consist of 17.7 billion tonnes of ore and 177.8 million tonnes of metal, while its reserves total 5.2 billion tonnes of ore and 57 million tonnes of metal. In addition, there are a number of areas that are said to have nickel content, but have not been explored (greenfield). These areas are spread across the provinces of Southeast Sulawesi, Central Sulawesi, South Sulawesi, Maluku, North Maluku, Papua and West Papua. … Continue reading →

Indonesia-Netherlands Agree on Cooperation in Various Sectors

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The Minister of Trade of the Republic of Indonesia, Zulkifli Hasan, attended a bilateral meeting attended by President Joko Widodo and the Prime Minister of the Netherlands, Mark Rutte, in New Delhi, India. The meeting which took place during the G20 Summit held in India on September 9 2023, the two countries discussed a number of important issues including the fields of development, economics, the process of registering Indonesia as a member of the Organization for Economic Co-operation and Development/OECD), as well as cooperation between ASEAN and the Netherlands. One of the main aspects discussed was cooperation in the energy … Continue reading →

Indonesia leading country in ASEAN food security: NFA

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Jakarta – Indonesia is a leading country in food security in the ASEAN region, Head of the National Food Agency (NFA) Arief Prasetyo Adi said at the ASEAN Business & Investment Summit (ABIS) here on Sunday. “We can be relied upon for the food sector in the ASEAN region,” Adi said. He said Indonesia has raised several issues that become concerns at the regional level, for instance, food security. The ABIS is a sideline event of Indonesia’s 2023 ASEAN Chairmanship’s ASEAN Business Advisory Council (ASEAN-BAC) and is currently hosted by the Indonesian Chamber of Commerce and Industry (Kadin) on September … Continue reading →

Digital economy expected to continue to improve: Minister Hartarto

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Jakarta (ANTARA) – Indonesia’s digital economy is projected to continue to grow due to the high Internet penetration rate of around 78 percent and the country’s large population, according to Coordinating Minister for Economic Affairs, Airlangga Hartarto. “In 2022, 40 percent of the world’s total digital transactions were made from Indonesia, namely US$77 billion. With the majority of the population entering the productive age, Indonesia’s digital economy will continue to grow,” he said on Wednesday. Hartarto made the statement virtually at the launch of the East Ventures Digital Competitiveness Index (EV-DCI) 2023: Digital Justice for All Indonesian People report in Jakarta. According … Continue reading →

80% of unfinished investment projects complete

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Investment Minister and Investment Coordinating Board (BKPM) head Bahlil Lahadalia has said that his party has completed 80 percent of unfinished investment projects worth Rp708 trillion (around US$45.7 billion) since his taking over as BPKM head in 2019. “Of the Rp708 trillion (around US$45.7 billion) in unfinished investments, we have completed more than 80 percent, including investments outside Java Island,” he informed at the “2023 Fortune Indonesia Summit” in Jakarta on Wednesday. The completion of unfinished investments was one of the directives the minister received from President Joko Widodo when he took over as BKPM head. He was also tasked … Continue reading →

Indonesia Strengthens Digital Economic Cooperation with Singapore

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Jakarta (ANTARA) – Coordinating Economic Affairs Minister Airlangga Hartarto has met with Senior Minister and Coordinating Minister for National Security of Singapore, Teo Chee Hean, in Jakarta to discuss strengthening digital economic cooperation between the two countries. Indonesia and Singapore agreed to strengthen cooperation in the digital economy, especially for the development of human resources, through the Tech Talents Program. Hartarto said that development of the quality of human resources is a supporting factor in increasing a country’s competitive capabilities. “The Tech Talents program that is being discussed by the two countries can be developed for mutual benefit for young … Continue reading →

Confident of West Java’s positive economic growth in 2023: Bank Indonesia

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Bandung, West Java (ANTARA) – Bank Indonesia (BI) stated that it is optimistic that West Java will record positive economic growth this year on the back of improving household consumption, investment, and financial sector performance. This optimism is based on the province’s economic growth in 2022, which showed a positive growth of 5.45 percent and exceeded national economic growth of 5.31 percent, head of BI’s West Java Representative Office, Erwin Gunawan Hutapea, informed. “That West Java’s economic growth is supported by positive performance of household consumption owing to relaxed restrictions on community activities, supported by export and investment performance,” he … Continue reading →

This year Indonesia is hosting 9 world-class events, what are they?

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The successful holding of last year’s G20 Summit in Bali succeeded in enhancing Indonesia’s image in the eyes of the world. Many appreciations came from officials and foreign media. Likewise with the WSBK and Moto GP 2022 events at the Mandalika Circuit. This year, Indonesia has again received the mandate to host various prestigious international level events, ranging from world-class championships to conferences throughout Southeast Asia. There are at least 9 events that have been confirmed to be held in Indonesia throughout 2023. The following is a summary. F1 Superboats Lake Toba, North Sumatra, is getting ready to host a super fast … Continue reading →

Indonesia’s Military Strength Soars to 13th in the World Ranking, Dropping Egypt and Iran

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It seems that the capability of the Indonesian military forces cannot be underestimated. Based on the 2023 World Military Strength Index released by Global Firepower, Indonesia is ranked 13th with a score of 0.2221, up two levels compared to last year’s 15th position. position 14 to 17. In addition, Indonesia should be proud because the country’s military strength is still ranked first in Southeast Asia. The title of strongest military in the world this year is still held by the superpower, the United States with a PwrIndx score of 0.0712, followed by Russia (0.0714), China (0.722), and India (0.1025). These four countries have never … Continue reading →