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.

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Singapore is still on the top of the list as the biggest investor in Indonesia during the first three months in Indonesia. "Singapore is still on the top of the amount of investment with 2.65 billion US dollars in the first quarter of 2018," said Deputy of Controlling The Implementation Investment on Investment Coordinating Board (BKPM) Azhar Lubis.

On the second position is Japan with the total investment of 1.36 billion US dollars, and followed by South Korea with 940 million US dollars. On the fourth position, China with the investment of 676.2 million US dollars, and on fifth position is Hong Kong with 516.1 million US dollars.

Azhar explained that although the position of China went down one rank, but according the amount of investment amount, it has continued to increase compared to the same period on the previous year. "China’s investment on the first quarter of 2018 (nearly) 700 million US dollars. On the same period in 2017, China was on the third ranked with (investment) about 600 million US dollars. The Grade of rating went down, but from the nominal and percentage China has risen," he explained.

On the same time, Chairman of BKPM Thomas Trikasih Lembong said that the increasing of China’s investment trendis not only happening in Indonesia but also around the world. China is the main of trading partner of 121 countries in the world. Furthermore, this country is also a major source of international tourists of many countries around the world, especially after becoming the strongest economy in Asia Pacific.

"So It is common that logically China must be one of the biggest investors in almost all countries in Asia Pacific, even in the world," he said. BKPM noted that the realization of the amout of investment during the first quarter of 2018 is Rp185, 3 trillion. It is increased of 11.8 percent over the same period in 2017 that the amount wasRp165, 8 trillion.

The realization of domestic investment (PMDN) isRp76, 4 trillion, has risen 11 percent from the same period of the previous year that amount of Rp68, 8 trillion. There is also the realization of foreign investment (PMA) of Rp108, 9 trillion, up to 12.4 percent from the achievement in the same period of the previous year that amount ofRp97 trillion. The Total Jobs that have created during January-March 2018 were 201,239.

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 Latest Update of Biggest Country’s Investor in Indonesia appeared first on INESIA.