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.

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.

Airlangga said that after his meeting with Singapore’s Minister of Communication and Information, S. Iswaran. Minister of Industry explained that, in the preparation of the implementation of Industry 4.0, the Indonesian government had launched the roadmap of Making Indonesia 4.0 which was inaugurated by the President of Indonesia Joko Widodo.

“So, there is a clear direction for the development of the competitiveness of our manufacturing sector in the future, including our targets,” he said. Based on the Making Indonesia 4.0, there were five manufacturing sectors that will focus on the early stages, which were the food and beverage industry, textiles and apparel, automotive, electronics and chemicals.

“The target is Indonesia will be the seventh strongest economy country in the world in 2030. In fact, in 2050, Indonesia is efforted to be ranked fourth in the world,” he explained. Airlangga believed this digital economic cooperation will make the increase forwardof the economy of Indonesia and Singapore. Furthermore, it will potentially make the increased investment and competence of human resources (HR), and also, the transfer of technology and innovation.

These positive impacts were suit with the 10 national priority steps in Making Indonesia 4.0. “For example, building a national digital infrastructure, improving the quality of human resources, and the development of innovative ecosystems,” he said.

In the effort to support the development of the digital economy in Indonesia, the Ministry of Industry had facilitated through built of incubation buildings for startup businesses, such as Bandung Techno Park, Bali Creative Industry Center (BCIC) or TohpaTI Center, Incubator Business Center in Semarang, Makassar Technopark, and Mobile Design Center in Batam.

For Indonesia-Singapore cooperation, the potential of ideal digital hub location was in Batam, because it was nearest and strategic. “We and also with the private sector boost the development of Nongsa Digital Park in Batam,” said Airlangga. These facilities became the basis of innovation and creativity for Indonesian young generation who wanted to develop software, web, application, film and animation, and also, other digital programs.

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 Indonesia-Singapore Were Ready to Collaborate to Build ‘Digital Hub’ appeared first on INESIA.

Indonesian tourism is gaining the international recognition again. This time, for The Best Awards 2018 from Travel and Leisure. It is precisely for the category of The Best Island in The World. Travelandleisure.com called Java Island as the best in the world in its website.

This award is very special for The Indonesia tourism, because the award was announced by travelandleisure.com just before the Asian Games 2018. Furthermore, Indonesia is also preparing to hold the IMF-World Bank Annual Meeting.

Travelandleisure.com is a site that becomes the reference for global traveler. This site contains the references to destinations in every country, including how to transport to the location. It got the references from the readers and the travelers. In its article, travelandleisure.com mentioned if its World’s Best Awards survey conducts every year.

“T + L has asked the readers about their travel experience around the world. The readers are invited to share their opinions about top cities, islands, cruises, airplanes, and more. The readers also rate the island based on its activities, natural attractions, beaches, food, hospitality, and overall values,” written by travelandleisure.com on its website.

The readers of travelandleisure.com is choosing Java Island as the best this year. That is not enough, because the second and third positions are also at Indonesia, which are Bali Island on the second position, and Lombok Island on third one. After Indonesia, there are Maldives, Waiheke New Zealand, and Palawan Philippines.

The domination of Indonesia is very surprising, because it can defeat Palawan island which had became the champion in 2013 and 2017. The three islands in Indonesia have also defeated the beauty of the Maldives. “In fact, Indonesia has an island that can bring the happiness and useful for science, and Indonesia dominates the top three places the places to make people enjoy to visit,” written on the article.

This achievement is further complemented by the elected of five hotels in Indonesia on the list of Top 100 Hotels In The World by travelandleisure.com. In fact, three of the hotels are included in the Top 10, which are Four Seasons Resort Sayan Bali on first position, The Mulia Bali position on sixth, and Nihi Sumba NTT is ranked on ninth. While Amandari Bali is ranked on 12th, and Alila Manggis Bali on 93rd.

This world-class award was well received by Tourism Minister Arief Yahya. He explained that this award will increase the Indonesia Government’s confidence that will hold the Asian Games and the IMF-World Bank Annual Meeting.

“This award has a tremendous value. This proves that the Indonesia’s potential tourism spots have been (abroad) recognized. Previously, the award was dominated by Bali and Lombok. This award is also good for the (Indonesia) country that is preparing to host the Asian Games and IMF-World Bank Annual Meetings, “he explained.

It is not less important that the award of Travel and Leisure will strengthen 3C (Confidence, Credibility, and Calibration). “Award will raise the level of our confidence level. The reward is basically a legitimacy or recognition. When we get an award, then our self confidence will rise, “he explained.

The award will be the best and effective marketing, including increased the credibility. “If it is communicated well, the award can be the most effective way of branding of (our) image. We do not need to hardly convey the benefits (that) we have. Someone else who will state it, “he explained.

Indonesian Minister of Tourism said that the award is also a benchmark of what Indonesian Government has done. “An award is also useful to make explanation that what we are doing is right. Plus, to convey our position compared with others.

To make explanation means making the measurements whether what we are doing is on the right track or not. And this measurement is important, because if we can not do the measurement, then we can not manage the industry of tourism,” he said.

According to him, the award from travelandleisure.com is also as a proof that Indonesia is very beautiful country. Indonesia can compete at the global level. This award can also increase self confidence. “And in the end, it will have an impact on the increasing the working spirit, even to the entire nation of Indonesia,” he said.

Source: Travelandleisure, 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 Java Island Chosen as The Best Island in the World appeared first on INESIA.

A great event of financial technology (fintech) industry had been held in Jakarta. The event with the title of The 2018 Indonesia Fintech Fair was expected to be an appropriate event for some fintech companies to improve the public awareness about technology-based lending services and companies or more popularly called as Peer to Peer Lending or P2P Lending.

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 Investment Coordinating Board (BKPM) estimates that Presidential Regulation No. 20 of 2018 on the Usage of Foreign Workers is expected to push the investment until 20 percent. Head of BKPM Thomas Trikasih Lembong said, the permit to usage of foreign workers is one of the main complaints of investors who invest in Indonesia.

"In this foreign workers permit they (investors) have to meet and go around the agencies. If this rule is really on the path of reform that covers ‘Online Single Submission`, I think the increase can be 10-20 percent," he said.

The former Minister of Trade ensures that the increase of investment will encourage the usage of foreign workers. The reason is that the international investors have been putting billions dollars in other countries with full of risk.

"I’m sure they (the investors) wants to bring their people because it would be too risky if something happen. If I were an investor I would want to put my own people or the best people in the world without seeing their citizenship in the investment," he said.

Nevertheless the number of foreign workers in Indonesia only reach one per thousand compared than the number of Indonesian workers currently working abroad. In fact, roughly, from 1,000 workers in Indonesia, only one of them is a foreign worker.

"So it is unreasonable that 999 Indonesians ‘fear’ to be surrounded by a single stranger. This fact has even been recognized by senior figures on the opposition coalition," he said. Although the government supports the simplification of procedures for the usage of foreign workers, the government on the other hand continues to improve the skills and knowledge of local workers.

It is hoped that these efforts can encourage local workforce to develop with better jobs and earn higher income. "Therefore, the government prepares vocational training programs and polytechnics to improve the skills of our workforce in order to develop," he concluded.

Source: Bisnis Indonesia

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 Foreign Workers Regulation Potentially Increase Investment appeared first on INESIA.

Indonesia is mentioned to be a country that easy to invest and starting a business, that make China interested to invest in.

Representatives from the Chinese Embassy to Indonesia Wang Liping explained that Indonesia is one of the countries that easy doing good business. Therefore China decide to invest in Indonesia. "The regulation in Indonesia is quite good, and the government began to provide convenience such as tax holiday. It is a revolutionary policy to encourage investment in Indonesia," said Wang at the Office of BKPM.

Wang said, one of the area in Indonesia, East Java, is a place that has a high potential for the manufacturing of industry, food and automotive. Except of these sectors, China also invest to e-commerce and digital industries sector in Indonesia.

"E-Commerce in Indonesia is growing very rapidly with big market and population that is why Alibaba, JD and Baidu have started to enter in Indonesia (market)," he explained. Based on the data of BKPM, China is on the seventh position of the top 10 investor countries in Indonesia during 2012-2017 that has 5,365 projects with the amount of investment is US$ 7.8 billion.

Head of Promotion and Investment Services of BKPM of East Java, Andromeda Qomariah, explained that currently East Java is on the second position for the ease of doing business after Jakarta. "We continue to provide the easy way of doing business to attract investment," said Andromeda.

According the data of 2015, the population in East Java was 38.84 million with the area of ​​about 48,039 km. The economic growth in East Java in the fourth quarter of 2017 was at 5.72%. The growth was slow but compare to national growth it is higher. In 2017, foreign capital inflows from China to East Java was US$ 77.04 billion with 335 projects, and created job for 5,407 people.

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 Indonesia Becomes China’s Destination of Investment appeared first on INESIA.

Indonesia need its own accommodation in Saudi Arabia that can be used for hajj pilgrimage and umrah pilgrimage, moreover Indonesia have the most pilgrimages in the world.

"Indonesia as a country with the majority of the most Muslim population in the world and recently also have the largest quota of pilgrimage, should have national pride because Indonesian Government can provide benefit for pilgrimages and also lift the pride of the nation," Said member of commission VIII, Achmad Mustaqim. According to him, by owning self accommodation it will make the pride of Indonesian nation that have the most Muslim population in the world.

The PPP politician also warned that Umrah pilgrimage last year were already more than 1 million people (excluding Hajj pilgrimage), so that the asset of accommodation would also give benefit for the Hajj Financial Management Board (BPKH).

These benefit, he added, could eventually be used to subsidize the pilgrimage so it can make affordable cost for people who want to go to the Holy Land, as the increase of living cost in Indonesia. The Vice President Jusuf Kalla said investment of pilgrimage in Saudi Arabia will be profitable, and pilgrimages from Indonesia can get the benefit.

"Because the development of Hajj pilgrimages are getting higher and the development of umrah pilgrimages are almost a million a year, so if Indonesian Government, through the Hajj Financial Management Board (BPKH), decide to invest in Saudi Arabia it will be profitable because it can be used within a year," Said Vice President.

The Vice President explained the plan of Indonesian Government investment in Saudi Arabia can be used for pilgrimage’s accomodation. It used to be the using of the accommodation in Mecca only took three months during the Hajj and Umrah pilgrimage, then with the investment it will make the Indonesia pilgrimage use the facility for one year.

Previously, several members of the House of Representatives emphasized the increase of Pilgrimage Operation Cost (BPIH), should be accompanied with the increased of the service of the organizer. "The service should be a top priority, so the increase will be an encouragement to equally increase the quality of pilgrimage process, and in the satisfaction rate of pilgrimage will increase," said Member of Commission VIII DPR RI Iqbal Romzi.

According to the PKS politician, the increase of BPIH pilgrimage cost Rp345 thousand compared to last year’s cost is very realistic related to the price increase in Saudi Arabia. Member of the House of Representatives Commission VIII Diah Pitaloka also hope the efficiency on transportation should not impact the services of pilgrimage. "The efficiency will improve the protection and health services especially for weak pilgrimages," said the PDI-P politician.

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 Indonesia Pilgrimage Need an Accommodation in Saudi Arabia appeared first on INESIA.