Month: June 2023

The Multi Lane Free Flow (MLFF) project worth US$300 million or IDR 4.5 trillion will be implemented in Indonesia. MLFF is said to be able to provide many benefits for Indonesia. Attila Keszeg, Main Director of PT Roatex Indonesia Toll System (RITS) said, Indonesia does not need to spend money on this project. The project financing scheme is obtained from tariff levies from toll road users when the MLFF is already in operation.
“The project financing scheme uses tariff fees paid by toll road users as a project settlement tool, so it does not use any party’s money in Indonesia when the project is implemented,” said Attila at a meeting with a number of national media editors in Jakarta, Thursday (15/6/223) .
MLFF, which uses the Design-Build-Finance-Operate-Transfer (DBFOT) scheme has a nine-year concession period. RITS, which is part of Roatex Zrt, a company from Hungary, is the business entity implementing the MLFF Indonesia project.
MLFF is the latest toll payment technology based on Global Navigation Satellite System (GNSS) technology which enables non-stop toll payment transactions through an application on a smartphone and read via satellite. This GNSS-based MLFF does not require readers everywhere on the highway, thus providing a more cost-effective solution.
Attila further explained, various advantages and benefits will be obtained by Indonesia from the implementation of the MLFF, such as the absence of queues at toll gates which have been the source of traffic jams on toll roads. World Bank data shows that traffic jams cause Indonesia to suffer economic losses of more than US$ 4 billion every year.
“The implementation of the MLFF is also beneficial from an environmental point of view, because reduced congestion will reduce air pollution and environmental burden because there are no queues and accumulation of vehicles at toll booths,” he added.
According to him, the implementation of the MLFF will make it easier for toll road users and increase the profitability of toll road operators because it reduces toll collection costs on a large scale. In addition, the implementation of the MLFF will accelerate Indonesia’s digital transformation through digitalization of toll payments.
“In addition to increasing GDP growth with the smooth flow of people and goods, MLFF also provides operational transparency which has implications for higher tax revenues for Indonesia,” he continued.

June 14, 2023, detikFinance
(https://www.thejakartapost.com/business/2023/06/14/indonesia-set-to-launch-satellite-this-month-from-cape-canaveral.html)

Indonesia is scheduled to launch its SATRIA-1 satellite on June 19, with its operational deployment expected by early 2024, according to a senior minister.
“The Indonesian government will launch the first Republic of Indonesia satellite, or SATRIA-1 for short, in an effort to equalize development and include people in the digital economy by providing internet access in every area of the country,” Mahfud MD, speaking in his capacity as the interim communications and information minister, said on Tuesday at his office.
The SATRIA-1 satellite is to be launched into space using SpaceX’s Falcon 9 rocket from Cape Canaveral in Florida, the United States.
Speaking at a press briefing on Tuesday, Adi Rahman Adiwoso, managing director of satellite service provider PT Satelit Nusantara Tiga (SNT), told reporters that the satellite would be ready to serve the public in early 2024 because “it takes 145 days from the launch date for the satellite to reach orbit”.
“The launch is in June and the satellite will reach orbit in November. We will test the entire satellite system by the end of December and have it ready for service in January,” he said.
In line with its designation as a state-owned multifunctional satellite project (SMP), SATRIA-1 would facilitate public services, according to Ismail, the communications ministry’s director general of post and information resources and devices, who spoke at the same briefing on Tuesday. He added that SATRIA-1’s services would be free of charge and would complement the existing telecommunication infrastructure by providing a direct connection to internet terminals without base transceiver stations (BTS). In this way, the satellite would “cover blind spot areas that are not connected by other technologies”.
The satellite is to function primarily in provide internet access for delivery of public services, with a specific focus on education, health care, local administrations as well as military and police personnel in remote areas. While the service duration was initially set for 15 years, Adi noted a “possibility of extending it by an additional five years” as long as the satellite remained operational. Adi said the total costs of the SATRIA-1 project amounted to US$540 million, $90 million more than the original estimate.
Nevertheless, he said that “SATRIA-1 remained cost-effective as a regional satellite”, considering that “its cost basis is relatively low despite delays and other factors involved in catering to remote areas”.
The SATRIA-1 project is funded through a public-private partnership and managed by the Telecommunications and Information Accessibility Agency (BAKTI) of the communications ministry. SATRIA-1 is poised to be the most powerful satellite in Asia with a capacity of 150 gigabits per second (Gbps) to enable high-speed internet connections. The ministry has established 11 ground stations across the country to provide operational support.

June 14, 2023, The Jakarta Post
(https://www.thejakartapost.com/business/2023/06/14/indonesia-set-to-launch-satellite-this-month-from-cape-canaveral.html)

PT Bank Rakyat Indonesia (Persero) Tbk or BRI is included in the Forbes Global 2,000 list for 2023. BRI has managed to occupy the top position among other Indonesian companies. Internationally known, BRI is ranked 307th, an increase compared to last year’s achievement, namely 349th in the world. From this list, 8 companies from Indonesia are included, the majority of which are State-Owned Enterprises (BUMN). The Forbes 2,000 list lists the world’s 2,000 largest public companies based on sales, profit, assets, and market value. The list of Indonesian companies that are included in the Forbes The Global 2,000 list in 2023 consecutively are BRI (307), Mandiri (418), BCA (462), Telkom Indonesia (787), BNI (930), Bayan (983), Adaro (1,393), and Garuda Indonesia (1,572).
BRI has proven to produce impressive records on 4 assessment indicators. Starting from a profit perspective, which reached US$ 3.45 billion or IDR 51.4 trillion on an annual basis (Year on Year/YoY). Apart from that, BRI also recorded US$119.84 billion or IDR 1,865.64 trillion in terms of assets, a double-digit growth of 11.18% yoy from the previous year. In terms of sales, BRI has recorded figures of US$13.16 billion or approximately IDR 195.8 trillion, and BRI’s market value reached US$53.79 billion or IDR 799.2 trillion.
Not only these four indicators, but there are also a number of other factors used to rank Forbes, including the timeliness of data collection, company reporting policies, country-specific reporting policies, and the time lag between when the company releases its financial data and when the Forbes database verifies it for ranking.
In total, the companies on the list generated US$50.8 trillion in sales, US$4.4 trillion in profits, US$231 trillion in assets and US$74 trillion in market value. However, the cumulative profits, assets and overall market value achieved by the 2000 companies fell slightly compared to last year, although this is the first time that total revenue has exceeded US$50 trillion.
There are 58 countries represented by public companies on the list. The United States leads with 611 companies and China comes second with 346 Global 2000 companies.

June 13, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6770133/bri-posisi-teratas-dari-8-perusahaan-ri-yang-masuk-forbes-global-2000)

The Indonesian government through the Ministry of Maritime Affairs and Fisheries (KKP) will work together to develop environmentally friendly waste management technology. This is one of the focuses in the collaboration that will be carried out with Pusan National University (PNU), South Korea through the establishment of a center for cooperation on environmentally friendly marine technology. Together with PNU President Cha Jeong In, Director General of Marine Spatial Management Victor Gustaaf Manoppo will work together to develop technology in shipyards and the maritime sector of the two countries. Victor expressed his concern about the condition of marine debris and plastic which threatens the health of marine biodiversity, industry, and society. Therefore, marine, and plastic waste is a global issue that must be handled by involving various parties and countries.
“Reducing marine and plastic waste is relevant to one of the KKP’s blue economy policies, namely cleaning the oceans through the participation of fishermen, we call it the Love the Sea Month program,” he said on Friday (2/6) at the Hydrogen Ship Technology Center Pusan National University (PNU HSTC) when signing the Letter of Intent (LoI), quoted on Sunday (4/6/2023).
He continued, this collaboration is the first step to further explore how to create healthier oceans through the use of technology that can reduce marine waste and plastic so that it will contribute to the conservation of the marine environment, the sustainable use of marine resources and the achievement of national targets to address the volume plastic waste.
“I appreciate the progress of the collaboration that has been pioneered and make this momentum a joint effort to overcome the problem of marine debris and plastic waste in our oceans,” he explained.
On the same occasion, PNU President Jeong In Cha revealed that the Hydrogen Ship Technology Center is an example of an environmentally friendly ship for collecting and processing marine debris floating in the sea.
“Hydrogen Ship Technology Center (HSTC) submitted this agreement to Pusan National University, and Professor Jae Myung Lee as head of the Hydrogen Ship Technology Center received administrative and financial support from the government for resources and development in the field of hydrogen ships. In addition, Hydrogen Ship Technology The Center is attracting great attention at home and abroad because it promotes development projects and is an example of an environmentally friendly ship that collects and processes floating marine debris,” he explained.
In the future, Pusan National University will make various efforts to strengthen joint research at the international level in engineering, environment and marine. PNU will also hold student exchanges or cooperation in the development of maritime policies and environmentally friendly policies.
“I hope Korea and Indonesia can maintain a partnership that will contribute to the international community, such as solving the marine debris problem, through future cooperation,” he concluded.

June 4, 2023, detikFinance
(https://finance.detik.com/infrastruktur/d-6754662/indonesia-korsel-kembangkan-teknologi-pengelolaan-sampah-ramah-lingkungan)

Emirates, the largest Airbus A380 superjumbo jet operator worldwide, intends to expand its operations in Indonesia after the successful maiden deployment of its A380 aircraft to Bali. Following the historic landing, Emirates said it would study demand at Soekarno-Hatta International Airport before deciding whether to deploy its A380 service to Jakarta.
“We’re pleased to achieve this milestone, which will greatly strengthen our operations in Indonesia, as well as our future commercial plans for the market,” Mohammad Al Attar, Emirates’ country manager for Indonesia told reporters on Thursday.
Prior to the COVID-19 pandemic, 15 airlines were operating the A380, but many put the aircraft in storage as the pandemic hit air travel demand. Air France became the first to retire its entire A380 fleet in May 2020. However, a number opted to keep the aircraft operational, especially after the easing of pandemic restrictions in many parts of the world. Germany-based Lufthansa and United Arab Emirates-based Etihad Airways were among the most recent airlines to reactivate their A380 fleets. Emirates’A380 arrival at I Gusti Ngurah Rai International Airport in Bali demonstrated its long-standing commitment to the country’s travel and tourism sector, the airline said. The airline added that it was well prepared to meet the rising demand to serve flights to and from Bali with the A380.
Handy Heryudhitiawan, general manager of I Gusti Ngurah Rai International Airport, said on Thursday the operator had checked the airport’s airside and landside facilities to ensure they met the requirements to serve Airbus A380 flights. This includes having an aviobridge with two trunks to allow passengers to board and disembark the double-deck jet airliner as well as improved waiting room and toilet capacity at terminals and adjustments to the airport’s aircraft refueling capacity.
Transportation Ministry Civil Aviation Director General M. Kristi Endah Murni said on Thursday that Emirates’A380 would serve a daily flight between Dubai and Denpasar, Bali. The ministry hoped the aircraft could contribute to increasing tourist numbers to Bali and other parts of Indonesia due to its greater passenger capacity.
Bali Governor I Wayan Koster lauded the opening of the A380 route to Indonesia. He said the number of visitors to Bali had increased significantly since travel restrictions in Indonesia were dropped in 2022. In 2022, 1.1 million foreign tourists visited Bali, while in just the first four months of this year already over 1.4 million visitors had come to the island, he said.
“I hope that the Emirates A380 will serve as a model for other airlines to fly their aircraft to Bali, enabling Bali’s tourism to rebound,” I Wayan said. Elaborating further, I Wayan added that he hopes “visitors from other countries will be respectful of local rules.”

June 2, 2023, The Jakarta Post
(https://www.thejakartapost.com/business/2023/06/02/emirates-hopes-to-tap-rising-demand-in-indonesia-after-maiden-a380-landing.html)

South Korea expressed its readiness to build LRT light train projects in Bali. Meanwhile, the Ginseng Negeri also glanced at the Jakarta Phase 4 MRT project from Fatmawati to Taman Mini. For this reason, Transportation Minister Budi Karya Sumadi held a bilateral meeting with South Korean Minister of Land, Infrastructure and Transportation Hee-Ryong Won. Both discussed the development of cooperation between the two countries, one of which concerns the two projects.
The meeting took place on Tuesday (30/5), at the Conrad Hotel, Seoul, South Korea after the two ministers were speakers at the ICAO Global Implementation Support Symposium (GISS) 2023 meeting in the same place.
On this occasion, Budi Karya conveyed the development of a number of railroad projects in collaboration with South Korea. First related to the feasibility study plan that will be carried out for the LRT development project in Bali. Then the Jakarta Phase 4 MRT development project was developed, which was signed by its MoU in 2022.
“Where South Korea through K-Consortium has submitted a pre-feasibility study which the DKI Jakarta Provincial Government is currently reviewing,” Budi Karya said in his statement, Wednesday (5/31/2023).
For the record, the MRT Phase 4 project will connect the Fatmawati-mini-banned 11 km. In this project, 10 fully underground stations will be built. The total investment value required is IDR 21 trillion.
Meanwhile, the LRT project in Bali requires an investment of IDR 10 trillion. The LRT project in Bali will connect I Gusti Ngurah Rai Airport to the main wiata object in Badung Regency. Furthermore, the route will be developed towards all regions in Bali.

May 31, 2023, CNBC Indonesia
(https://www.cnbcindonesia.com/news/20230531124340-4-442145/daebak-korea-bangun-lrt-di-bali-bidik-proyek-mrt-jakarta)

The Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono is exploring the potential of fisheries cooperation with the City Government of Fuzhou, China. China is considered to be a strategic market for Indonesian fisheries products. It is known, the value of fishery exports last year reached US $ 1.12 billion. Or up 26.29% from 2021. The main export fishing products include shrimp, octopus squirt squid, seaweed, and crab crab. While Fuzhou is the capital of Fujian Province and is dubbed as a maritime city because of the location of its territory and the development of the marine industry is very rapid.
“This morning we briefly reviewed several fisheries industries in Fuzhou, and we view that Indonesia can work together and there are many Indonesian fisheries products that can be exported to Fuzhou,” Trenggono said in a written statement, Saturday (5/27/2023).
He said this when he met a member of the Permanent Committee of the China Communist Party (CPC) of Fujian Province who was also the Secretary of the Fuzhou CPC Committee, Lin Bao Jin in Fuzhou, Friday (5/26) yesterday. His visit to Fuzhou in the context of Twin Twin Park Two Countries cooperation between Indonesia and China, especially in the field of maritime and fisheries.
Trenggono also met with the Mayor of the people of Fuzhou City, Mr. Wu Xiande, as well as a number of fisheries industry players. In addition to the potential of trade cooperation, his party also offers cooperation opportunities in other fields, such as aquaculture, capture, and processing industry.
“Indonesia also has a large capture and cultivation fisheries resources, supported by an attractive bay and a broad coast. Indonesian fisheries governance also prioritizes the principles of blue economy that prioritizes sustainability,” he explained.
Meanwhile Lin Bao Jin, a member of the Permanent Committee of the Chinese Communist Party, Fujian Province who is also the Secretary of the City Committee Fuzhou welcomed the proposal of cooperation in the field of fisheries with Indonesia. According to him, both Indonesia and Fuzhou City have the same commitment to maintaining marine ecology’s sustainability. In fact, both of them already have a bigger cooperation umbrella namely Two Countries Twin Park.
“We have a good opinion about the deepening of strategic cooperation between China and Indonesia, the deepening of the implementation of the development of ‘two countries, two parks’, and strengthening exchanges and exchanges between Indonesia and Fuzhou, Fujian Province,” said Lin Bao Jin.
For information, Trenggono’s agenda in the city of Fuzhou includes visiting the Hongdong Fisheries Group and Mawey Mingceng Aquatic Product Market which is part of the modern fisheries industry in the region.

May 27, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6741636/ri-jajaki-peluang-kerja-sama-perikanan-dengan-kota-maritim-china)

President Joko “Jokowi” Widodo has reeled in investment commitments from Japanese organizations for the Nusantara Capital City (IKN) project during the Group of Seven (G7) Summit in Hiroshima. On the sidelines of the summit over the weekend, Jokowi met with 33 Japanese delegates comprising three government officials and representatives from 24 companies, four business associations, and two financial institutions.
“That meeting discussed investment cooperation in Indonesia’s priority sectors, mainly highlighting investments in IKN development,” Foreign Minister Retno L.P. Marsudi told an online press conference on Sunday.
The results of the President’s meeting included five memorandums of understanding (MoUs) the IKN Authority signed with the Japan International Cooperation Agency (JICA), the Japan Bank for International Cooperation (JBIC), the Japan International Association for the Industry of Building and Housing (JIBH), the Japan Conference on Overseas Development of Eco-Cities (J-CODE) and the Urban Renaissance Agency (UR). The meeting also resulted in 24 letters of intent (LoIs) between the IKN Authority and Japanese companies, though no details were disclosed at Sunday’s press conference. According to Investopedia, moUs contain broad outlines of an agreement between two or more parties, while LoIs are nonbinding documents that declare a preliminary commitment to do business together.
“And Mr. President called for the Japanese companies to invest in other priority sectors, such as the downstream industry and the energy transition. The President stated several times that he was happy to cooperate with Japan because it had good quality. In the meeting with CEOs, the President addressed several points, that amid global economic uncertainty, the Indonesian economy was one of the most resilient” Retno told reporters.
Jokowi also spoke about investment opportunities in the IKN project during his meeting with South Korean President Yoon Suk Yeol, in addition to electric vehicles, renewables, and the chemicals industry. Citing the International Monetary Fund (IMF), Retno said the Indonesian economy was projected to grow 5% this year and 5.1% in 2024.
On Saturday, Jokowi met with IMF managing director Kristalina Georgieva as a side event of the G7 Summit. During that meeting, the IMF presented its assessment of the condition of the Indonesian economy as good and stable, with growth exceeding the global average. Jokowi also met with French President Emmanuel Macron on the sidelines of the G7 Summit, during which the two leaders discussed France’s 500-million-euro (US$541 million) assistance via the French Development Agency (AFD) for Indonesia’s energy transition program. They also spoke about a plan to form a joint venture between Indonesia’s state-owned defense firm PT Len Industri and Paris-based manufacturer Thales. At the summit, Jokowi raised his concern about the sluggish progress of G7 countries in fulfilling their financing commitment to the Just Energy Transition Partnership (JETP) for Indonesia and the JETPs for South Africa and Vietnam.
On Monday, Yamada Junichi, executive senior vice president at JICA, said investors under the agency are ready to support investment in infrastructure for the new capital, such as renewing Balikpapan airport and power supply facilities. Tadashi Maeda, chairman of the board of JBIC, said in the same statement that the lender is committed to supporting the new capital development by focusing investment on renewable energy such as hydropower.

May 22, 2023, The Jakarta Post
(https://www.thejakartapost.com/business/2023/05/22/jokowi-bags-ikn-investment-commitments-from-japanese-firms.html)

The Indonesian Rupiah issued in 2022 managed to receive an award from the International Association of Currency Affairs (IACA). The Rupiah defeated the currency from dozens of other countries. Rupiah became
the Best New BankNote Series at the 17th Currency Award in 2023 in Mexico. IDR 100,000, IDR 50,000, IDR 20,000, IDR 10,000, IDR 5,000, IDR 2,000 and IDR 1,000, Head of the Department of Money Management of Bank Indonesia (BI) Marlison Hakim revealed that with this award means the Rupiah is recognized by the world.
“There are 11 countries, including Indonesia which are nominees. Then five finalist countries were chosen. Of the five finalist countries, Indonesia was named the winner,” he told AFP on Thursday (5/18/2023).
Marlison explained that the winner’s assessment element was determined through criteria that included innovation and unique security features, integration of historical elements with local content related to the publisher country, the effectiveness of integrating security features, and the aesthetics of the appearance and design of banknotes.
The achievement at the highest position of the Rupiah TE 2022 in the world-level award is one form of international affirmation of the quality of the Indonesian Rupiah. This success continues the previous achievement achieved by the 75 -year -old Independence Day of the Republic of Indonesia IDR 75,000 as the Best Commemorative finalist at the 2022 Currency Award.
Executive Director of the BI Communication Department Erwin Haryono explained that the Iaca Currency Awards were awards given to the achievements of the development and innovation in the cash payment sector, which was participated by 29 countries in 2023. The peak of this award was packaged in a conference held in Mexican City.
The Iaca Award began in 2007 to promote and recognize the quality of banknotes and coins, processes, management, distribution, and cash-related activities. Iaca, domiciled in Texas, USA, established in 2004, is an independent non-profit organization that drives the quality of the cash cycle, functioning as a forum for consultancy and collaboration for the perpetrators of the cash payment system whose members consist of the central bank, the money publishing authority, and industry Like money printing companies, suppliers of money printing materials.
“This Rupiah is equipped with various strengthening and innovations in the design aspects, safety elements, and money materials so that the Rupiah money is more beautiful, safer, and more durable,” he said.
Innovation and strengthening of the Rupiah make the Rupiah more easily recognized, challenging to falsify, and have a more extended distribution period so that the Rupiah money is increasingly qualified and trusted and becomes a legal means of payment and symbols of the sovereignty of the Unitary State of the Republic of Indonesia.

May 18, 2023, detikFinance
(https://finance.detik.com/moneter/d-6726505/top-rupiah-menang-penghargaan-dunia-kalahkan-mata-uang-29-negara)