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The Indonesian government has inaugurated a PET bottle-recycling factory in Pasuruan, which will help reduce plastic waste in Indonesia, especially from single-use plastic bottles.  The plant was built in a partnership between Danone-AQUA and water-technologies company Veolia Indonesia.   With 225 employees, it has a production capacity of 25,000 tons per year of food-grade recycled PET plastic (RPET). Industry Minister Agus Gumiwang said the plant would strengthen the recycling ecosystem and the circular economy in Indonesia. He added that there were more than 1,300 plastic recycling plants in Indonesia with a total capacity of 2.3 million tons per year and investment of over Rp 7 trillion (USD 482.5 million). “It can support the government's target of [reducing] plastic waste in the sea by up to 70 percent by 2025,” Agus said. Danone was identi­ed as one of the top-three companies producing the most plastic waste. The group has long called on large national and multinational corporations to take responsibility for plastic pollution caused by their operations.

Investment Minister Bahlil Lahadalia in a statement announced the MoU signing between the Hyundai consortium and PT Industri Baterai Indonesia (IBI).  The Hyundai Consortium consists of Hyundai Motor Company, KIA Corporation, Hyundai Mobis, and LG Energy Solution. They will work together with IBI to build an electric vehicle (EV) battery cell factory with a total investment value of USD 1.1 billion. The EV battery plant will potentially create job opportunities for 1,000 people.  IBI is the state-owned holding that consists of four SOEs; state electricity ­rm PLN, energy firm Pertamina, MIND ID, and state mining company Antam. This investment collaboration is a direct link to the USD 9.8 billion integrated electric vehicle battery project. The EV battery cell factory groundbreaking is expected to be held before the end of this year.   https://en.tempo.co/read/1488711/indonesia-hyundai-sign-mou-on-ev-battery-plant-development https://www.cnnindonesia.com/ekonomi/20210729101646-92-673645/hyundai-lg-bakal-bangun-pabrik-baterai-rp15-t-di-karawang

Indonesia has jumped three places in a global competitiveness ranking in 2021 thanks to its economic resilience amid the Covid-19 pandemic, the improvement in government efficiency, and rising confidence among its businessmen. The largest economy in Southeast Asia moved up three places to 37th among 64 economies assessed by the institute, based on recent statistical data and interviews with business executives operating within their respective territories. Indonesia's performance was in contrast to some of its neighbors, which saw their competitiveness ranks dropped due to the Covid-19 pandemic. Singapore lost the top position it held for two years in a row to Switzerland. The pandemic created havoc on the island nation's job market and undermined its service-based economy. The Philippines's economy also saw the unemployment rate doubled to more than 10 percent and deterioration in public ­nance and businesses' productivity, which lead to a seven-place drop to 52nd place — the sharpest drop in the region. https://jakartaglobe.id/business/indonesia-improves-in-world-competitiveness-ranking

  Factory activity in Indonesia slowed in June 2021 after three consecutive months of record-high expansion as the country faced a fresh wave of pandemy. The manufacturing purchasing managers’ index (PMI), a gauge of factory activity based on a monthly survey of 400 manufacturers, stood at 53.2 in June. The latest reading, which marks the ­rst slowdown in three months, was a result of easing new export work, output and new order growth as well as slower purchasing activity due to a more cautious attitude among ­rms. This was in line with a softer increase in new orders, while growth in export work eased to a three-month low. At the same time, buying levels eased, despite a stronger depletion of raw materials and semi-fi­nished items. Meanwhile, supplier performance deteriorated at the fastest rate since January.

Indonesia launched Southeast Asia’s fi­rst new airline in the past ten years. Super Air Jet's establishment represents a strategic defense move from Rusdi Kirana, who reportedly backed the airline.  Super Air Jet will operate the new 320-200 with a maxed-out con­guration of 180 economy class seats. It would reintroduce a 'super' low-cost segment to Indonesia's air travel market, aiming speci­cally to cater to the young air travel customers. The youth segment will continue to grow rapidly, and Super Air Jet is ready to cater to that market with "Super Cost" offering, which offers the cheapest airline services possible to make them more affordable.    https://jakartaglobe.id/business/super-air-jet-sets-up-wider-postpandemic-moat-for-rusdi-kiranas-empire

 The merger between Gojek and Tokopedia is expected to consolidate their positions as major players in Southeast Asia’s digital economy amid rising competition, particularly from Singapore-based companies, that led the two to lose ground in recent years, even in their home in Indonesia.   Jakarta-based ride-hailing company Gojek and e-commerce platform Tokopedia, both of which are unicorns, announced their merger on Monday with the establishment of GoTo Group, the country’s biggest start-up in terms of valuation at an estimated USD 18 billion. The merger enables GoTo to better compete with the likes of Singapore-based ride-hailing giant Grab, worth an estimated USD 14.3 billion, and Singapore’s SEA Limited, the publicly listed parent company for e-marketplace Shopee, which is worth USD 112.59 billion.         https://www.thejakartapost.com/news/2021/05/17/gojek-tokopedia-merger-to-boost-ris-place-in-regional-digital-economy.html

                            Amazon.com Inc posted a pro­t that was double Wall Street targets, thanks to the retailer’s younger, higher-earning businesses, including cloud computing and advertising. The report was a relief to investors in the U.S. technology sector. For instance, the company is working to ship food from Whole Foods Market stores across the United States, in an ambitious attempt to bring groceries into the age of online retail. Amazon’s spending typically climbs in the summer quarter, pressuring pro­ts as the company prepares for Christmas and the winter holidays, its peak sales period each year. Yet the company said it expects an operating pro­t between $1.4 billion and $2.4 billion, up from $347 million a year earlier. The company also reported a second-quarter pro­t of $2.5 billion, its largest ever.   https://www.reuters.com/article/us-amazon-com-results/amazon-earnings-skyrocket-on-cloud-computing-advertising-idUSKBN1KG2WB

The transaction value recorded during the 40-day event at the 51st Jakarta Fair was Rp7.3 trillion.  The transaction value increased from 2017's Rp6.6 trillion. This year's Jakarta Fair absorbed 40,000 to 50,000 laborers, and attracted 6.7 million visitors. https://en.tempo.co/read/919648/jakarta-fair-transaction-value-at-rp73tn-anies-says