Are you interested in opening a company in Indonesia? Not so fast. All foreign investors need to follow procedures to invest in Indonesia. The country is famous for its complicated bureaucracy, but with the rising spirit of efficiency in the current administration, the process has been shortened.

Foreign investors have options between PT PMA (an independent company) and KPPA (a representative company of an existing business). Starting a PMA is the more ambitious option because it demands good business preparations. Investors must also consider the time they need to start the company, from start to finish.

Standard Duration for Starting a PMA

All foreign investors must arrange permits and other important documents with Indonesia Investment Coordinating Board or BPKM. They must also deal with a public notary to deal with the deals. Here are typical periods investors need to go through all the steps:

· Applying for important documents from BPKM

A foreign investor needs to get Principle and Business Licenses from BKPM as the first step. Without hassles, this process is finished in around seven days (not included workdays or national holidays).

· Deed legalizing

A public notary must legalize the new company’s Deed of Establishment. There must be Article of Associations in the deed. The process is short, usually, take around one or two days.

· Legalizing by the ministry

The next level for the legalizing process is to the Ministry of Law and Human Rights. In this process, an investor will get a strong legal base to operate in Indonesia. Without hassles, the process may take between seven and ten days.

· Getting Domicile Letter

After finding out where to establish the company, an investor (or owner) must get Domicile Letter. The authorities release this document in the local district. It assures that you (or your company) stay and operate legally. The process usually takes around three days.

· Tax-related preparations

All companies that operate in Indonesia must be ready to pay taxes, based on the government’s regulations. The investor must get PKP (taxable entrepreneur confirmation) and Tax Identification Number (NPWP) at the Department of Tax office. This process is usually done between three and five days.

·  Registration certificate

Investors need to have a company registration certificate (PKP). By registering the company’s name, the investor/owner will not deal with lawsuits and others when it presents an integrated marketing technique (especially related to business license). The process usually takes around 14 to 18 days.

· Manpower and welfare reports

Finally, a new company must understand the human resource quality in the office. The company must report about the manpower details and planned welfare reports, to the Ministry of Manpower. This process usually takes about seven days.

Ownership Status in Indonesia

Foreign investors must also find at least a President Director and Commissioner for the newly-established company. The director must stay in Indonesia to control the activities. If the director is a foreigner, he or she must have a work permit and registered tax number. At least one of the shareholders must be a foreign entity.

Feel stressed out about all the bureaucracy? Contact Smart Legal Consulting in Indonesia. This company offers services for foreigners who want to invest in Indonesia. At Smart Legal Id foreign investors can get assistance to deal with the paperwork. You can focus on the other business aspects while waiting for the documents. Inquire now and have an easier strategy to start a new business.

If you have any questions about the establishment of a PT PMA, you can contact Smart Legal  slc@smartlegal.idor +6221–8067 4920

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In its development, the concept of class action is apparently also accepted and practiced in continental countries that embraced the statute law system (a system that emphasizes the creation of regulations through legislation made by parliament) including Indonesia. Therefore, a class action in Indonesia is a relatively new legal phenomenon in the country’s world of justice.

The Classification of Class Action in Indonesia Based on the Regulation

Class action in Indonesia is classified based on the following types of law:

• The law of consumer protection
• The law of environment protection and management
• The law of forestry
• The law of construction services

With Construction Service Law as an exception, the above types of law do not particularly establish procedural law on filing a lawsuit of a class action in Indonesia. Hence, in 2002, The Supreme Court set up a regulation on the procedural law on class action lawsuits, that primarily refers to the civil procedural law. All cases that refer to respective types of law above can be filed as lawsuits of a class action in Indonesia.

The regulation of class action in Indonesia was designed to accommodate the legal developments that exist in the community and for the sake of efficiency in resolving legal violations that harm many people/communities. For example, the cost of a case becomes cheaper because the lawsuit is filed together, so much time is saved as the judge has to examine only one case for many, and the interests of many people can be accommodated in one lawsuit and another.

Case Examples of Class Action In Indonesia And Other Countries

Some examples of class action cases include:

In India, there was the Bhopal case (1985), a lawsuit filed by victims of toxic gas leaks from the chemical company/Union “Union Carbide”. Meanwhile, in the United States, there was the Agent Orange case (1987), a lawsuit filed by thousands of Vietnam war veterans against company owners/manufacturers of toxic chemicals called “Agent Orange”—a kind of dioxin—that has caused physical disability to the victims. In the end, the panel of judges granted them grand compensation of US$250,000,000!

Back in 1993, in the Philippines, the Minor Oposa case happened, which was a lawsuit filed by 41 underage children represented by their parents against the Philippine Environment Minister about the cancellation of the logging plan, arguing that deforestation had caused suffering and loss to the plaintiffs and future generations.

In Indonesia: the Bentoel Remaja cigarette case (1988) was filed by a Lawyer, namely R.O. Tambunan, S.H. representing the interests of the people who object to the use of the name “Bentoel Remaja” cigarettes because it can potentially provoke the interest of smoking cigarettes among teenagers. Although rejected, the lawyer’s effort was not in vain. Bentoel finally pulled the problematic product out of circulation.

There was also a lawsuit filed by Tempo magazine’s readership group in 2014. Approximately 1,000 readers sued for the reason of losing the right to obtain information. They assessed the Minister of Information Regulation (Permenpen) No. 1/Year 1984 which became the basis of the Minister of Information Decree to suppress Tempo was contrary to the Basic Press Law. Therefore, they demanded that the Supreme Court as the highest judicial institution carry out the judicial review rights to the Minister of Defense.

So, are you interested in filing a lawsuit of class action in Indonesia as well?

The post Here are Cases that can be filed as Class Action Lawsuits in Indonesia appeared first on INESIA.

Even though in 2015 there was only about 2% of Indonesians reporting their losses as consumers to Badan Penyelesaian Sengketa Konsumen Indonesia/BPSK (English: the Indonesian Consumer Dispute Resolution Agency), you need to know that BPSK will do their best to resolve your case. If necessary, they will also file a lawsuit to Mahkamah Agung or MA (English: the Supreme Court). Therefore, you also need to know the example of the lawsuit.

The definition of a lawsuit in civil law

A lawsuit is a letter submitted by Badan Penyelesaian Sengketa Konsumen Indonesia to the head of an authorized district court. The lawsuit includes a claim for civil rights which contains a dispute with its foundation of case investigations and its evidence of true rights. The nature of the lawsuit is called the real trial and the legal product produced is a legal decision.

Based on Article 36 of the Minister of Industry and Trade Decree 350/year 2001, if a business actor as a defendant does not fulfill the call of BPSK, BPSK can adjudicate consumer disputes without the presence of business actors. So, BPSK can grant the consumer claims as a plaintiff. Also, note that BPSK verdict is a final decision and has a permanent legal force.

Final means that there are no appeals and cassations (based on Article 54 verse [3], UUPK or Consumer Protection Act). The BPSK decision can then be requested to determine the execution by BPSK to the District Court in the place of the aggrieved consumer.

An example of a lawsuit filed by BPSK to MA

The following is an excerpt from the opening section of a lawsuit filed by Badan Penyelesaian Sengketa Konsumen Indonesia:

668 K/Pdt.Sus-BPSK/2017

FOR JUSTICE BASED ON THE ALMIGHTY GOD

SUPREME COURT

Examining the specific civil matters of consumer disputes at the cassation level and deciding as follows in the case between:

DALI SUSANTO, residing on Ampera Street Number 5,

Pekan Bahorok Village, Bahorok District, Langkat Regency;

Past Cassation Applicant Respondent of Objection;

Against

PT BANK RAKYAT INDONESIA (Persero) Tbk.,

BINJAI BRANCH OFFICE, represented by Gaib Prawata, Branch Manager

PT Bank Rakyat Indonesia (Persero) Tbk., Binjai Branch Office,

domiciled at Jalan Sutomo Number 6 Binjai, in this case

authorizing Arif Tri Cahyono and friends,

Employees of PT Bank Rakyat Indonesia (Persero) Tbk., Based on

Special Power of Attorney dated January 12, 2017;

The Cassation Respondent was previously the Petitioner of Objection;

The Supreme Court;

Reading the relevant documents;

Considering, that from the documents referred, it turns out that now

The former Cassation Respondent as the Petitioner of Objection has submitted

objection to the Decision of the Consumer Dispute Settlement Agency

Coal Regency Number 1109/Arbitration/BPSK/BB/VII/2016 dated

December 23, 2016, with the following rules:

1. Granting all consumer requests as the plaintiff;
2. Stating that there is a loss on the part of consumers;
3. Declaring the business actor as the defendant has never attended any trial appropriately called upon by Badan Penyelesaian Sengketa Konsumen (BPSK) in Batu Bara Regency according to regulation and legislation applicable in the territory of the Republic of Indonesia;
4. Declaring the fact that the business actor who has never provided copies of credit agreement that ties between the consumer and business actor, such as Credit Agreement, Insurance Policy and Dependent Entitlement Deed, and others are illegal, as well as contrary to Law Number 8 of 1999 concerning Consumer Protection specifically regarding standard clauses; Page 2 of 45 things. Put. Number 668 K/Pdt.Sus-BPSK/2017
5. Declaring the consumer that has good intentions in carrying out his obligation to the business actor by paying the installment of the interest on credit loans every month to the business actor.

The process of the dispute resolution may take time and effort, but it is worth them. Therefore, never hesitate to report your disputes to Badan Penyelesaian Sengketa Konsumen Indonesia in the city or district you live in.

The post An Example of Lawsuit Filed by Badan Penyelesaian Sengketa Konsumen Indonesia appeared first on INESIA.

Based on The Government Regulation No. 24 the Year 2018, now the businessperson either the domestic or the foreign ones can register their business through OSS system online. What they must do is preparing all the documents needed and open https://oss.go.id.

After being successful registering the business, they will get the NIB (Nomor Induk Berusaha/Single Business Number) that can also be functioned as custom access, The Importer Identification Number, and even the Company Registration Certificate.

How about the registration of Sistem Informasi Manajemen Bangunan Gedung (SIMBG/Management of Information System of Buildings)? When the OSS regulation is implemented, the Indonesian government once said that they still develop the integration between the OSS and SIMBG. Since the first time, OSS is meant to be connected to many things regarding the permission and law, including the integration between OSS and SABH (legal administration system) from The Ministry of Law.

The Integration of OSS and SIMBG on the Ministry’s Regulation

As seen on the regulation of Ministry of Public Works and Public Housings of Indonesian Republic (PU/PERA—Pekerjaan Umum dan Perumahan Rakyat No. 19 /PRT/M/2018, the SIMBG is an integrated information system used to publish the IMB (Izin Mendirikan Bangunan/Building Permit), SLF (Sertifikat Laik Fungsi/Building Worthiness Certificate), and the data collections of buildings.

That ministry’s regulation is issued to be guidelines for the building’s owner to understand the system of SIMBG that has been integrated into the OSS system. The integration is meant to make the administration of building information system more in order.

What is the relation between the OSS system and SIMBG? As you can read on that ministry regulation part 2 article 4, the business people who have received the permission through OSS must fulfill the IMB commitment through SIMBG. Here are the requirements to fulfill the commitment through SIMBG:

-The document that proves the ownership status of land rights or the agreement to use a land

-The data of building owners

-The building’s technical plan

The businesspeople must give the requirements as mentioned above maximum five days after the IMB has published. But, if the IMB requires the document of AMDAL (Analisis Mengenai Dampak Lingkungan Hidup/Environmental Impact Analysis) the time given is about 30 days.

SIMBG itself is operated not by the central government, but by the City/Region Administrations Office.

The City/Region Administrations Office must check the requirements for the SLF issuance application to understand either it has been completed or not. After it has been completed, then the administrations’ office must inform the OSS, and the OSS must publish the SLF maximum three days after that.

The government, especially both Ministry of Public Works and Public Housings and Coordinating Ministry of Economic Affairs still develop the integration between OSS and SIMBG. This thing is quite important because the perfect integration between OSS and SIMBG will make the permission registration more manageable, and it is easier for the government to control the building data in Indonesia. The government can quickly check whether a building has held the permission or it already has the AMDAL.

Source: https://smartlegal.id/en/smarticle

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Foreign workers are the foreigners working in the Indonesian territory for certain positions within a specified time. This type of worker requires a special work permit in the form of a visa whose provisions are regulated in the law.

The use of foreign workers has different regulations from local workers. Therefore, the prevailing legal regulations cannot be compared to ordinary workers. You can find several regulations regarding the use of foreign workers in The Presidential Regulation Number 72 of 2014 (concerning the use of foreign workers and the implementation of companion workforce education and training), and Manpower Minister Regulation No. 16 of 2015 (concerning the procedures to use the foreign workers).

The Use of Foreign Workers in Indonesian Company

Regarding the use of foreign workers in companies engaged in industry, the use of foreign workers in Indonesia has been arranged in detail in a Ministerial Decree. For your reference, some of the following Ministerial Decisions may be useful regarding the use of foreign workers in Indonesian companies:

• Decree of the Minister of Manpower and Transmigration Number 14 of 2015 which regulates positions that can be occupied by foreign workers in the category of processing industry (a sub-category of the furniture industry).
• Decree of the Minister of Manpower and Transmigration No. 15 of 2015 which regulates positions that can be occupied by foreign workers in the category of the processing industry, (a sub-category of the footwear industry).
• Decree of the Minister of Manpower and Transmigration Number 17 of 2015 which regulates positions that can be occupied by foreign workers in the category of processing industries (sub-categories of cigarette and cigar industries).
• Decree of the Minister of Manpower and Transmigration Number 26 of 2015 which regulates positions that can be occupied by foreign workers in the category of processing industry (a sub-category of the sugar industry).
• Decree of the Minister of Manpower and Transmigration Number 357 of 2013 which regulates positions that can be occupied by foreign workers in the category of processing industry in the apparel industry.
• Decree of the Minister of Manpower and Transmigration Number 359 of 2013 which regulates positions that can be occupied by foreign workers in the category of processing industries of the basic goods industry of non-machinery and equipment.

All ministerial decisions above have legal provisions in Indonesia and must be obeyed by companies that want to employ foreign workers in Indonesia.

Can the Foreign Workers Occupy Director Positions in Indonesian Company?

As a matter of fact, yes! They can!

The Decree of the Minister of Manpower and Transmigration of the Republic of Indonesia Number 40 of 2012 concerning Certain Positions that Are Forbidden to be Occupied by Foreign Workers clearly states the list of positions that are not permitted to be occupied by foreign workers.

By referring to the regulation and the ministry decisions mentioned above, it can be concluded that foreign workers may serve as directors in Indonesian companies (except the position of personnel director).

Lastly, it is very important to note that not all director positions in Indonesian companies are open to foreign workers. Some companies may prefer to use experts from within the country to gain trust from the community.

Related article: Job Availability and Restrictions for Workers of Foreign Citizenships in Indonesia

The post Can Foreign Workers Occupy Director Positions in Indonesian Companies? Here Is Your Answer appeared first on INESIA.

In 2014 the financial literacy in our country was only 36 percent or 90 million people. Last year this number has increased to about 130 million people. The increased was not up to 50 percent. Still far from the government’s target that was about 75 percent.

Another case related to the condition of internet users in Indonesia, based on survey results of the Association of Internet Service Providers Indonesia, the number of internet users in 2017 has reached 143.26 million people or 54.68 percent of the total population in Indonesia, which were 262 million people.

That number has increased from 2016 which reached to 132.70 million people or 7.96 percent of the number of active internet users in Indonesia. According to the age, a group of millenial or the generation of people under 34 years old generation is the most active of the internet users.

In the population of 13-18 years old, the penetration of internet users has reached 75.5 percent, and the population of 19-34 years old has reached 74.23 percent.

PT Asuransi Jiwasraya (Persero) does not want to waste that huge opportunity (of local interent users) to increase the literacy.

Information Technology Division Chairman of Jiwasraya Insurance, Bagus Wiharjanto, said that one of the policies stated in the Work Plan and Corporate Budget (RKAP) this year is financial services based on financial technology (fintech).

It is good to think of great opportunities for the existence of fintech in recent years. If it applied in the insurance industry, fintech can create innovations that facilitate the insured process, such as micro insurance and personal accident.

The innovations in insurance industry can change the way people view of the industry and also help improve its financial literacy. The Colaboration with Fintech could be a great opportunity for education, both for customers and the public. The idea is quite effective considering the financial services transaction from the new digital insurance has just reached four percent.

“We have launched the apliaction of JS Simple Protection and JS Mikro Sahabat this year,” said Bagus. furthermore, he also mentioned that the cooperation between the state-owned enteprises insurance company, Asuransi Jiwasraya and fintech will create a  fintech insurance application, then the features in the application will develop to such as gamification feature. The purpose of this gamification is to create education through the form of games as a part of financial literacy.

“To introduce the products, we fill the game elements into the app as part of the literacy. Hopefully, this year it will run. Fintech as the application, and the implementation (of the idea) through the application or mobile app,” he explained.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

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The 2018 Indonesia Fintech Fair was the first event that held start this year. It took the theme of “Fintech Transforming Life” and was organized by the Fintech Indonesia Association (Aftech) in Jakarta. The purpose of this financial technology community event was to broaden the education and information on the conventional tekfin and shariah tekfin to innovate teh alternative solutions to gain the financial access for wider community.

With a theme that emphasiz the consumer protection, the 2018 Indonesia Fintech Fair was attended by all stakeholders of the financial technology industry ecosystem from government, bankers, fintech service providers, which are Investree, and other fintech companies to interact directly with public in the panel discussions.

During the event there were also various exhibitions, the product and service presentations, and games. Co-Founder and CEO of PT Investree Radhika Jaya (Investree) Adrian Gunadi said the involving of the community to improve the awareness and diversification of products and services is very important, because it could strengthen the protection of the consumers.

Except of that, Adrian who also serves as Vice Chairman of Aftech said that the event became an opportunity for the association to educate the fintech businessmen to run the business with a sense of full responsibility and transparent.

“We see that the event is the right momentum and a good opportunity to share the awareness because all stakeholders will be attended and join with people whether aware or not to the benefits of tekfin,” said Adrian.

In the future, Investree will introduce the detail of their newest products and services based on sharia. These products are the Sharia payment service based on Invoice Financing and the Sharia Online Seller Financing for Online Store.

The Definition of the Sharia payment service is a funding product guaranteed by invoices, designed to apply the sharia method through Akad Al Qardh for bailout and Akad Wakalah Bil Ujrah for gaining the profit or ujrah.

While the Sharia Online Seller Financing is a working capital financial service for online store sellers who have an active store on the e-commerce platform of Investree partners. This transaction is also using sharia mehods (Akad Murabahah and Wakalah) with monthly installment payment scheme and the 12 month of period.

Sixty-Four Fintech Approved by OJK

The improvement of fintech industry seems to get a positive response. The Financial Services Authority (OJK) as the regulator of the financial services industry has recorded the number of registered fintech until June 2018, which are already 64 fintech. The number has increased compared to previous time. On April 2018, OJK had registered 51 fintech companies.

According to the official website of OJK, it has informed that until now only one fintech company that get permission, which is Danamas. While the latest one that registered on June 8, 2018 was Kreditcepat.

Until April 2018, the fintech peer to peer lending industry had distributed Rp 5.42 trillion. The value had increased 111.23% compared to December 2018. While the ratio of non-performing loans (NPL) from fintech lending had reached 0.53% in April 2018. The value had decreased compared to December 2017 which reached 0.99%. While the amount of borrowers at April 2018 had reached 1.47 million entities, up 468.79% year to date. Then the number of lenders had reached 162,373 entities, up 60.86% year to date.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post 2018 Fintech Fair: Socializing Financial Literacy appeared first on INESIA.

The fall of Bitcoin price was influenced by issue from the main of central bank organization in the world who warned of the use of Bitcoin. The central bank stated that cryptocurrencies such as Bitcoin would become increasingly useless in the future. The doubt of the central bank refered to the fact that the value of Bitcoin in a month had reached its lowest point at US $ 6,255 or Rp 84 million on June 13, 2018. It was its duty to release a statement as a warning to the public.

Bitcoin and some other kinds of digital money are cryptocurrencies that are not measurable at all. Even if more and more people use cryptocurrency, it will increase the risk of disturbance of trust and efficiency.

Cryptocurrency is a technology that uses the currency digitally. This technology uses cryptography for security so that this type of currency can not be copied. The value of a cryptocurrency is largely determined by the power of buy and sell of this technology users.

Considered as a breakthrough of financial technology, a various of cryptocurrencies are developed by various companies and engineers team in some parts of the world. Even Google Ventures also invests in one of cryptocurrency technology. Until now, more than 500 cryptocurrencies have been created with innovative concepts.

One of the weaknesses of cryptocurrency is its value basically based on the power of buy and sell so it is not guaranteed by anything. Because of these conditions the value of a cryptocurrency often drops more than 20% in just one day.

Always Use Critical Sense

The weakening sign of the value of cryptourrency have increased in a week. The Bank of International Settlements (BIS), the main of global central banks that has a headquarter in Swiss, needed to make an anticipate step, even it is only a warning. BIS stated the latest warning that Bitcoin would be increasingly useless in the future.

Furthermore, BIS revealed that cryptocurrency that actually only exist in the digital network is using a great trust to maintain the stability of its value and capability. The situation that only depends on the belief in the cryptocurrency could disappear instantly if the decentralized network in every digital currency is fragile.

As more and more people are optimistic about or use cryptocurrency, decentralized networks are more easy to stuck. Except of that, BIS is also worried to see another potential risk which is the high transaction costs per second, especially for Bitcoin. Those were Some of the facts that make BIS could not just be silent. The facts were potentially harming the society. “Trust can evaporate at any time because of the fragility of the decentralised consensus through which transactions are recorded, and that cryptocurrency is also able to stop functioning one day and will make it lose value,” Said BIS in its statement in Reuters.

Source: Antara, Reuters

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Cryptocurrency, Not Always Safe Investment appeared first on INESIA.

According to him, coal is an affordable price of energy. However, the coal does not exist in all regions, therefore it needs to be distributed to the areas without coal. “In this case, it does not mean that the price can be cheaper so it needs a balance between the energy and the price. Coal is an affordable price of energy. Compared to renewable energy that can be more expensive than Coal,” he said.

His ministry also confirmed that the government is also committed to developing renewable energy. However, according to energy mix, renewable energy is targeted at 23 percent. While coal is higher than that. “Therefore, coal with renewable energy must be synergized, and coal will still be used and renewable energy will be pushed,” he said.

Reduce Import

Meanwhile the Ministry of Industry has boosted the increase of investment in domestic plastics and rubber industries to strengthen the manufacturing structure to push the positive value and reduce imported raw materials. “Plastics and rubber industry is the backbone that is closely linked to other industries that can support national development,” Secretary General of the Ministry of Industry Haris Munandar said.

In order to attract investors, according to Haris, the government has issued various strategic programs and policies in creating a conducive business condition, and also, providing simplification for some licensing process and starting a business in Indonesia. “For example, incentives for export oriented for labor-intensive industry and the industries that develop innovation and vocation. Ministry of Industry has also facilitated the develop of the several integrated industrial area, especially outside of Java Island, “he said.

The Secretary General has stated that the important role of plastic and rubber products as they are needed by the strategic manufacturing sectors which are integrated among other industries such as food, machinery, automotive, and electronics. “Therefore, based on the regulation ofMinistry of Industry and RIPIN, the government and the stakeholders will synergize in pushing the productivity and competitiveness of the industry,” he said.

The development of plastic and rubber industry in Indonesia is surely quite prospective. Currently the potential of the national plastic industry is supported by 925 companies with total production is reaching 4.68 million tons per year for various plastic products and able to provide jobs for 37,327 people.

“The demand for national plastic products is 4.6 million tons now, increase five percent in the last five years,” Haris said. He also hopes that local plastic products can win the local market and able to compete in international market.

Meanwhile, according to rubber commodities, Indonesia is one of the main producing countries of natural rubber with the production of 4 million tons per year. National natural rubber production can still be increased considering to the potential of the existing land that reaches 3.5 million hectares. Furthermore, supported by research and development (R&D) program conducted by government, educational institutions and private sectors.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Indonesian Coal and Rubber Business is Still Promising appeared first on INESIA.

2018 Keqiao Textile Expo opened opportunities for textile and garment enterprises to market their products locally and internationally. A textile company that had never missed the exhibition in Shaoxing City was Shaoxing Mulinsen Textile Co. Ltd. which was always targeting buyers and Indonesian company.

Director of Shaoxing Mulinsen Faye Wang said thatits biggest market was Indonesia. In fact, according to him, half of the company’s revenue was from the exports to Indonesia. “Our revenue last year reached 100 billion US dollars and 50 billion US dollars was from sales to Indonesia,” he said.

The companies’ target cities in Indonesia were Bandung and Jakarta. “More sale were at Bandung, and a few (other) at Jakarta,” he said. This year Faye’s company was anticipating a 25 percent increase in exports to Indonesia by relying on woven and polyester products.

Faye’s company also marketed its products to Southeast Asian countries (50-60 percent of total exports), and also, to Western countries such as Los Angeles US, Italy and France. Within a year, his company followed six exhibitions, such as in Canton and Shanghai, which could contribute up to 20 percent to corporate income.

Except of served direct purchases, Faye’s company accepted orders through its electronic commerce services by using the popular Alibaba application in China.

Became a Target

Just like Shaoxing Mulisen, Sanmai Fabric textile company also made Indonesia as one of the main markets for their products. Sanmai Fabric’s representative,Diz Qian, said that his company earned $ 2 million in revenue from the exports to Indonesia.

“Indonesia is the second country of our target market, after Sri Lanka,” he said. He also added that from the exports to Sri Lanka, the company could earn 3 million US dollars per year or one-fifth of the company’s annually revenue which was 15 million US dollars. “So the total percentage of the exports to ASEAN countries was about 30 percent,” he said.

The company marketed the P/D and metallic materials with glittering beads that likekby South Asian people. Except of Indonesia and Sri Lanka, Sanmai Fabric also marketed its products to North America such as Mexico and Los Angeles, also toSouth America and Europe.

Diz Qian said his company also often participated in the exhibition, which allowed the textile industry to expand the market. “It can even go up twice,” said Diz Qian, wherehis company’s factories operated in Shaoxing and Fujian.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Indonesian Market Became Target of China’s Textile Industry appeared first on INESIA.