News

Sharp Electronics Indonesia, the local subsidiary of the Japanese electronics giant, has started constructing an air conditioner factory in Karawang, West Java, setting up a new export base for the Southeast Asia region. The company said it has set aside Rp 582 billion (USD 40.5 million) in investment for the new plant, which would take up 3.5 hectares of land at Karawang International Industrial City (KICC). Sharp expected the new factory would be ready for operation at the beginning of next year, with a production capacity of between 900,000 and 1.05 million AC units per year. Minister of Industry Agus Gumiwang Kartasasmita said Sharp's investment would help Indonesia develop its manufacturing industry and reduce electronics imports. AC was one of the products contributing to the imports, as many of its parts, including the compressor, are not available in Indonesia. Sharp has been developing Indonesia as its new base for manufacturing in the past few years. In 2019, the company moved its top-loading washing machines production from Thailand to Indonesia.   https://jakartaglobe.id/business/sharp-begins-construction-of-405m-ac-plant-in-w-java

Indonesia will build a container port in the Batam Free Trade Zone and Free Port in Tanjungpinggir, Sekupang Sub-district, that will directly face Singapore. "We will build a green and smart port," Minister Luhut Binsar Pandjaitan said during a visit to the proposed location for the port in Batam. The development area currently spans 94 hectares, but it will be increased to about 330 hectares through reclamation, he informed. Thus, the port would be larger than Tanjung Priok Port in Jakarta, he noted.   https://en.antaranews.com/news/211433/indonesia-plans-to-build-container-port-in-batam

The PMI was up from 53.3 in December last year, he noted. An index above 50 indicates that the manufacturing industry is in an expansionary stage. The minister said that Indonesia's manufacturing PMI in January 2022 exceeded ASEAN's average manufacturing PMI of 52.7, Malaysia 52.8, Philippines 50.0, South Korea 51.9, Russia 51.8, and China 49.1.   https://en.antaranews.com/news/212945/indonesias-manufacturing-pmi-up-in-early-2022

Taiwan-based companies and local fi­rms have inked an USD 8 billion (Rp 114 trillion) investment deal to develop Indonesia’s electric vehicle ecosystem. Foxconn, a contract manufacturer known for Apple’s iPhone, and Gogoro, an electric scooter and battery swap technology company, represent the Taiwanese side in the deal; while coal giant Indika Energy and state-owned Indonesia Battery Corporation represent the Indonesian side. These companies will develop a wide range of EV segments, from cars, two-wheelers and buses to battery production and supporting industries, such as energy storage systems, battery exchange or swap stations, battery recycling as well as research and development.

Indonesia's consumer con­fidence index rose to 118.5 last month, the highest since January, 2020, on an improving perception of economic conditions amid a rise in incomes and job opportunities, the central bank said in a report recently.

The World Bank has predicted that Indonesia’s economic growth will return to pre-pandemic levels next year as the vac cination campaign continues. In its December country report, the bank predicted that the country’s GDP would grow 5.2 percent in 2022, up from the 5 percent it predicted in June. 

  The government has injected Rp 60 trillion (USD 4.18 billion) into the country’s sovereign wealth fund to get the ball rolling in ­nancing major projects. The latest funding for the Indonesia Investment Authority (INA) comprises Rp 15 trillion in state capital injection (PMN) from this year’s state budget and Rp 45 trillion in equity from Bank Mandiri and Bank Rakyat Indonesia (BRI).                   https://www.thejakartapost.com/news/2021/11/09/govt-injects-4-2b-into-sovereign-wealth-fund-to-get-big-projects-rolling.html 

President Jokowi inaugurated the Section I of Serang-Panimbang Toll Road. The Serang-Panimbang toll road is divided into three sections that stretch for 83.67 kilometers.   https://nasional.tempo.co/read/1529020/jokowi-resmikan-jalan-tol-serang-rangkasbitung