News

Mitsubishi Pledges USD 666 Million Of Investment In Indonesia
01 Aug 2022
Japanese automotive giant Mitsubishi Motors Corporation, or MMC, has pledged USD 666 million in additional investment in Indonesia over the next three years as it seeks to expand its manufacturing activities to hybrid and electric vehicles production. "MMC had invested Rp 11.3 trillion (USD 752.9 million) for all MMC factories in Indonesia by the end of 2021. The target is that MMC will invest around Rp 10 trillion from 2022 to 2025," the Coordinating Minister for Economic Affairs Airlangga Hartarto said in a statement. The company plans to diversify its products, focusing on producing electromotive vehicles (xEV) such as hybrid, plug-in, and fuel-cell electric vehicles. Beyond 2023, the company would start the xEV initiative with Xpander and Pajero Sport models. Mitsubishi will also produce two new electric vehicle models in 2024. It established a local manufacturing arm Mitsubishi Motors Krama Yudha Indonesia (MMKI), in 2018 and has made it a key export base for Mitsubishi. The company aimed to increase its export to 72,000 cars this year and 98,000 cars in 2024, compared to 42,000 cars last year.  From Indonesia, Mitsubishi has exported to 39 destinations in Africa, Asia, and South America and is preparing to ship its product to Australia soon.    https://jakartaglobe.id/business/mitsubishi-pledges-666m-investment-tests-xev-use-in-indonesia
Alibaba To Invest Over USD 100 Million In Indonesia-Listed Smartfren Telecom
01 Aug 2022
Chinese technology giant Alibaba is set to invest in Indonesia-listed telecommunications operator PT Smartfren Telecom, part of the Sinar Mas Group, in a deal that could be worth over USD 100 million, sources told DealStreetAsia.   https://asia.nikkei.com/Spotlight/DealStreetAsia/Alibaba-to-invest-over-100m-in-Indonesia-listed-Smartfren-Telecom
PT Pelindo Terminal Recorded Throughput Of 5.3 Million Teus In The First Semester
01 Aug 2022
Container throughput in the sub-holding of PT Pelindo Terminal Petikemas (SPTP) in the fi­rst semester of 2022 reached 5.3 million TEUs. SPTP noted that the container throughput grew by one percent compared to the same period in 2021. “The container throughput consists of 1.67 million TEUs of overseas containers and 3.68 million TUEs of domestic containers from 27 container terminals managed by SPTP,” said SPTP Corporate Secretary Widyaswendra. Widyaswendra emphasized that the transformation includes standardization and digitization of business processes, increasing competence, and optimizing operational workers.   https://theshippinggazette.com/sptp-recorded-throughput-of-5-3-million-teus-in-­first-semester
Indonesia And Russia To Build USD 22 Billion Refinery In East Java
15 Jul 2022
Indonesian state-owned oil company Pertamina and Russia's Rosneft Oil Company are going ahead with their project to build a refinery in the Indonesian province of East Java to produce fuel and raw materials for the petrochemical industry. The two state-owned companies earlier formed a Jakarta-based joint venture, PT Pertamina Rosneft Pengolahan dan Petrokimia, which will manage the East Java's New Grass Refinery Root (NGRR) in Tuban and have an output of 229,000 barrel per day of gasoline, diesel and jet fuel.   https://www.straitstimes.com/asia/se-asia/putin-oers-russian-railways-investment-in-new-indonesia-capital
UAE’s Latest CEPA Trade Partner Is Indonesia
15 Jul 2022
The UAE signed a wide-ranging economic pact with Indonesia which will eliminate tari­s and boost bilateral trade. Under the trade deal, over 80 percent of UAE exports will gain immediate duty-free access to Indonesia. The deal is expected to increase the total value of trade in services between the UAE and Indonesia to USD 630 million by 2030. Streamlined customs procedures and an emphasis on digital trade will make it easier for UAE companies to do business with Southeast Asia’s biggest economy, which is set to grow 5.4 percent in 2022.
Indonesia Hails Successful G20 Foreign Ministers’ Meeting
15 Jul 2022
Indonesian Foreign Minister Retno Marsudi said all her counterparts from G20 countries were present in person during the two-day meeting in Bali. Indonesia as a host put the global energy and food crises on the main agenda of the foreign ministers’ meeting. https://jakartaglobe.id/news/indonesia-hails-successful-g20-foreign-ministers-meeting-despite-russias-walkout
Indonesian Government Vows Full Support For Foxconn’s Investment
04 Jul 2022
President Jokowi has instructed his cabinet member to ensure that the Taiwanese tech company Hon Hai Precision Industry Co. Ltd (Foxconn) realizes its investments in battery and electric vehicle industries here without any hurdle, Investment Minister Bahlil Lahadalia said recently. Foxconn has agreed to build electric car components, batteries, electric motors, and relocate its telecommunications spare part manufacturing facilities from China to the Batang industrial area in Central Java in a move estimated to bring USD 8 billion direct investment to Indonesia. Earlier this year, the Taiwanese firm signed an MoU on the joint venture project with Indonesia's state-owned battery maker Indonesia Battery Corporation (IBC), Indika Energy, and Taiwan's electric bike maker Gogoro Taiwan for its Indonesian operations. The much-awaited investment is in line with the Jokowi administration’s ambition to build the most extensive EV ecosystem in the region.   https://jakartaglobe.id/business/govt-vows-full-support-for-foxconns-battery-investment
Indonesia Pursues Key Projects With Japan, Including The Jakarta-Surabaya Railway
04 Jul 2022
Indonesia is pushing for faster progress on infrastructure projects carried out in cooperation with Japan. Transportation Minister Budi Karya Sumadi met with high-ranking officials in Japan to discuss several projects, including the second and third phases of Jakarta’s MRT, the Jakarta-Surabaya semi-fast railway project, and an international-standard motor vehicle proving ground in Bekasi, West Java. Budi, accompanied by Indonesian Ambassador to Japan Heri Akhmadi and House of Representatives Deputy Speaker Rahmat Gobel, met with Japan’s Land, Infrastructure, Transport and Tourism Minister Tetsuo Saito, Japan Bank for International Cooperation (JBIC) governor Tadashi Maeda and other stakeholders.   https://www.thejakartapost.com/business/2022/06/23/govt-pursues-key-projects-with-japan-incl-jakarta-surabaya-railway.html