Tag Archives: development

Indonesian Coffee Dominates the Egyptian Market, Exports Reach IDR 1.46 Trillion

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Indonesian coffee products have succeeded in dominating the Egyptian and North African markets. In 2023, Indonesia will become the largest coffee exporter to Egypt from all over the world with an export value of 92.96 million or the equivalent of IDR 1.46 trillion. This amount controls 42.69 percent of the coffee market share in Egypt. “This indicates that Indonesian coffee products are loved by consumers in Egypt. “The distinctive aroma and taste are the main factors in attracting the interest of Egyptian consumers,” said the Indonesian Ambassador to Egypt Lutfi Rauf in a written statement in Damanhour, Beheira, Egypt, Tuesday … Continue reading →

New capital groundbreaking Phase 5 worth Rp49.6 trillion of investment

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The fifth phase of groundbreaking in the new capital city (IKN) Nusantara took place to commence the development of projects worth Rp49.6 trillion (US$3.17 billion) of investment in total, the Nusantara Capital Authority (OIKN) revealed. President Joko Widodo during an inspection on a construction work launched during the fifth phase of groundbreaking of IKN Nusantara in North Penajam Paser District, East Kalimantan Province. (ANTARA/Nyaman Bagus Purwaniawan) OIKN Deputy for Socio-cultural Affairs and People’s Empowerment, Alimuddin, noted that the fifth phase of groundbreaking in Nusantara that took place on February 29 and March 1 serves as a testament to the continued … Continue reading →

Indonesia Aims for 5.6 Percent Economic Growth in 2025

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President Joko “Jokowi” Widodo is targeting economic growth to range between 5.3 percent and 5.6 percent in 2025, surpassing the 5.05 percent recorded in 2023 and the 5.2 percent target for this year. In comparison, the International Monetary Fund (IMF) forecasts Indonesia to achieve a growth rate of 5 percent for the current year and the following year. Meanwhile, the World Bank predicts a decrease in growth for both 2024 and 2025, with the growth rate projected to be 4.9 percent in each of those years. Additionally, the government is also aiming for a reduction in the poverty rate from … Continue reading →

Electric Cars are Future of Indonesia’s Automotive Industry: Jokowi

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President Joko Widodo (Jokowi) underscored that electric vehicles are the future of Indonesia’s automotive industry, as the country has supplies of raw materials for production. President Joko Widodo (Jokowi) at the booth of Vietnam-based automotive company, VinFast, at the 2024 Indonesia International Motor Show (IIMS) automotive exhibition held at the Jakarta International Expo, Jakarta, on Thursday (February 15, 2024). ANTARA/Andi Firdaus The president made the statement after opening and monitoring the 2024 Indonesia International Motor Show (IIMS) automotive exhibition held at the Jakarta International Expo, Jakarta, on Thursday. “I think the future of Indonesia’s automotive (industry) is in electric cars … Continue reading →

Indonesia Relaxes Golden Visa Requirements for New Capital Investors

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Indonesia recently announced that they would relax the golden visa requirements for investors who are investing in the new capital project Nusantara. According to immigration director general Silmy Karim, foreign companies who invest at least $5 million are now already eligible for a five-year stay permit — much lower than the previous minimum requirement of $25 million. The government has also lowered the requirement for the 10-year stay permit from $50 million to $10 million. Foreign companies who set up their branch offices or subsidiaries in the new capital Nusantara Are exempt from turnover (sales value) requirements at their parent … Continue reading →

Oil and Gas Investment in Indonesia Will Reach IDR 212 Trillion in 2023

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Total upstream oil and gas (oil and gas) investment in Indonesia in 2023 will reach 13.7 billion US dollars or the equivalent of IDR 212.87 trillion. This amount increased 13 percent from the previous year’s realization, higher than the long term plan ( LTP), and above the Global E&P investment trend. ” God willing, in 2024 our target is 17.7 billion US dollars. So, there will be a significant increase. “Hopefully everything will go well,” said Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto in a press conference at the beginning of the year at the SKK Migas … Continue reading →

Middle Eastern Investors’ Interest in Indonesia Still High: Minister

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Minister of Tourism and Creative Economy (Parekraf) Sandiaga Salahuddin Uno has said that the interest of Middle Eastern businesses in investing in Indonesia, including in its tourism sector, is still high. He made the remarks in reference to his visit to Dubai, the United Arab Emirates (UAE), and Jeddah, Saudi Arabia, some time ago, where he showcased investment opportunities in the tourism and creative economy sector. “From our visit to meet with several business people and entrepreneurs, they showed that interest in investing in Indonesia is still very high,” he informed during the “Weekly Brief with Sandi Uno” in Jakarta … Continue reading →

Hong Kong Investors Show Strong Appetite for Indonesia

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Many Hong Kong businesses of different sectors are seeking to expand to Indonesia, thus showing that the upcoming election has little effect on investors’ appetite, according to the region’s trade body representative. Government data shows that Hong Kong has never left the top 4 ranking for Indonesia’s largest foreign investors over the past years. It is likely that more Hong Kong investment will come to Jakarta in the future. Kevin Chiu, the director for Indonesia at the Hong Kong Trade Development Council (HKTDC), said that businesses had been asking how they could set up a company in the archipelagic country. … Continue reading →

3 Megaprojects Will Be Built in West Papua, Investing Hundreds of Trillions

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Indonesian President Joko Widodo (Jokowi) inaugurated the Tangguh Train 3 National Strategic Project (PSN) in Teluk Bintuni Regency, West Papua, on Friday (24/11/2023). On the same occasion, Jokowi also led the groundbreaking procession for the development of three upstream oil and gas megaprojects in West Papua. The three projects include: construction of Carbon Capture, Utilization and Storage (CCUS) in Ubadari Field, Kramomongga District, Fakfak Regency. Then, downstream Blue Ammonia , as well as the Asap-Kido-Merah (AKM) gas field. The investment value of all these projects reaches hundreds of trillions of Rupiah. The Indonesian Minister of Energy and Mineral Resources, Arifin … Continue reading →

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 … Continue reading →