Indonesia Speeds Up Dam Construction, Catching Up With China and South Korea

President Joko Widodo (Jokowi) stated that Indonesia must now focus on managing water for the future. One of them is building dams to maximize water use. He said that until now Indonesia seemed to be lagging behind in building dams to maximize water use. From Sabang to Merauke there are a total of 4,400 rivers, but so far only 292 dams have been built.

Jokowi compared it with other countries, such as South Korea to China. In South Korea there are a total of 20 thousand dams in operation, while in China there are more, up to 98 thousand dams.

“We have 4,400 rivers, but we only have 292 dams. To illustrate, China has 98 thousand dams, South Korea has approximately 20 thousand dams,” explained Jokowi in his statement, Friday (23/2/2024).

Jokowi conveyed this when inaugurating the Lolak Dam in North Sulawesi. This dam was built with a budget of IDR 2.02 trillion with a multitude of functions that can be optimized.

Apart from being a raw water supply with a discharge of 500 liters per second and a reach of up to 10 kilometers, Jokowi explained that this dam could act as a flood barrier. This dam is expected to reduce the risk of flooding by up to 29% in the surrounding area, a significant improvement compared to previous conditions.

“It can reduce flooding by up to 29%, if previously there was a flood, then there was a dam, it would be reduced,” said Jokowi.

Then, this dam can increase agricultural productivity around the dam area. With a capacity of 16 million cubic meters, the Lolak Dam can irrigate an agricultural area of 2,200 hectares.

Lolak Dam can also function as a hydroelectric power plant with an energy potential of 2.43 MW. Not only that, the Lolak Dam will also become a new tourism destination in the Bolaang Mongondow area, and the ex-excavated land can be used as a productive fruit forest.

February 23, 2024, detikFinance

(https://finance.detik.com/infrastruktur/d-7208009/jokowi-sebut-ri-ketinggalan-bangun-bendungan-kalah-dengan-china-korsel)

Swiftnomics: The Promising Impact of Concerts. How About Indonesia?

Taylor Swift held international concerts in several neighboring countries such as Singapore and Australia, but not Indonesia. The government responded by issuing the Indonesia Tourism Fund. The Eras Tour concerts were held by Taylor Swift in several countries. In contrast to Coldplay’s concert which stopped in several countries in Southeast Asia, Swift’s concert this year only stopped in Singapore.

International concerts are said to have a massive economic impact, including Taylor Swift’s concerts. How could it not be, Swift is known to have loyal fans spread across many countries. His concerts in several countries that have been held are also often attended by audiences from various other countries.

Thai Prime Minister Srettha Thavisin accused the Singapore government of taking special steps towards the organizers of The Eras Tour. He accused Singapore of offering 2-3 million USD or around IDR 31 billion – IDR 46 billion to get exclusivity for Swift’s concert in the Southeast Asia region, which was only held in Singapore.

Apart from that, the Minister of Tourism and Creative Economy, Sandiaga Salahuddin Uno spoke to Bloomberg Television regarding this matter. He uploaded snippets of the conversation to his Instagram account @sandiuno.

“We need several incentives first, we need what the Singapore government and the Australian government did, namely bringing in Taylor Swift. We need ‘Swiftnomics’ (referring to the economy resulting from the impact of Taylor Swift’s concert) in Indonesian tourism,” he said.

Sandiaga Uno also thinks that this needs to be used as momentum for cooperation with ASEAN countries. The thing is, according to him, big concerts like The Eras Tour have really tough competition to steal Taylor Swift’s heart.

Sandiaga Uno also said that the Singapore government was willing to pay a high price for six days of Taylor Swift concerts. No joke, the Singapore government has the capital to carry out Swiftonomics which has a huge impact on the country. In fact, if you calculate it, Singapore could get revenue of USD 600 million or more than IDR 9.3 trillion for the six days of Taylor Swift’s concert there.

Based on this, the Indonesia Tourism Fund was also launched by Sandiaga to be able to attract various international events.

“And I’m sure we will start with the Indonesia Tourism Fund. It is hoped that with this tourism fund we can bid for good events in the coming years. Not only music, but also sporting events, we need to present good cultural events in Indonesia to attract good quality tourists to visit Indonesia, stay longer and have an impact, with more dollars spent into the local economy,” he explained.

He explained in his Instagram post that Indonesia not being chosen to host The Eras Tour concert was a lesson in itself. Then IDR 2 trillion will be disbursed into tourism funds this year.

“This year the government will disburse 2 trillion Rupiah through special tourism funds or the Indonesia Tourism Fund (ITF). These funds will be used to organize local and international events, with the hope of increasing the number of tourists so that they can have a wider job creation impact again,” he wrote.

February 22, 2024, detikTravel & detikPop

(https://www.detik.com/pop/music/d-7207228/taylor-swift-dimonopoli-sandiaga-uno-ajak-negara-asean-kolaborasi)

(https://travel.detik.com/travel-news/d-7206886/taylor-swift-tak-mampir-pemerintah-sodorkan-tourism-fund-rp-2-triliun)

Indonesia-Singapore Opens Carbon Export Import Potential with CCS Technology

Singapore signed a Letter of Intent (LOI) commitment for cross-border Carbon Capture and Storage (CCS) activities with Indonesia. In the LOI, Indonesia and Singapore emphasized the importance of CCS as a decarbonization method, and the potential of CCS to support sustainable industrial activities and create new economic opportunities. Later, a working group consisting of Singaporean and Indonesian government officials will work together on a legally binding bilateral agreement to allow cross-border transportation and storage of carbon dioxide between Singapore and Indonesia.

“This collaboration with Singapore not only increases Indonesia’s commitment to leading environmental responsibility in this region, but also shows our proactive approach in utilizing innovative technology for sustainable growth,” said Deputy for Maritime Sovereignty and Energy at the Coordinating Ministry for Maritime Affairs and Investment Jodi Mahardi in his statement, Thursday (15/2/2024).

This agreement was signed by Deputy Secretary (Industry) of the Singapore Ministry of Trade and Industry, Keith Tan, and Jodi Mahardi. This agreement is based on Presidential Regulation Number 14 of 2024 concerning the Implementation of Carbon Capture and Storage Activities, which provides access to carbon storage operators to provide international carbon storage capacity.

CCS itself is the activity of capturing, transporting and storing carbon dioxide, to prevent carbon emissions from being released into the atmosphere. CCS is a decarbonization method that is suitable for industries whose emissions are difficult to reduce, such as the energy sector, chemical industry and power plants.

CCS is internationally recognized as an important decarbonization method for achieving global climate change mitigation. Both institutions, the Intergovernmental Panel on Climate Change (IPCC) and the International Energy Agency (IEA), recognize the important role of CCS in achieving net zero emissions by the middle of this century and reducing the effects of global warming.

“Cross-border carbon capture and storage are a growing solution in Asia and supports Singapore’s transition to a low-carbon future. Singapore is the first country to sign an LOI with Indonesia after its presidential regulation including cross-border CCS was announced,” said the Deputy Secretary (Industry).Singapore Ministry of Trade and Industry Keith Tan.

“With this LOI, Singapore and Indonesia can become pioneers in accelerating the implementation of cross-border CCS projects in Southeast Asia,” he said.

February 15, 2024, detikFinance

(https://finance.detik.com/energi/d-7195462/ri-singapura-buka-potensi-ekspor-impor-karbon-dengan-teknologi-ccs)

Quick Count Results of the Presidential Election in Indonesia: Predictions and Impact on the Economy

On February 14, 2023, Indonesia has just held General Elections, one of which is to elect the President and Vice President 2024-2029. Of all the existing survey institutions, the Prabowo-Gibran pair has a landslide advantage over the other two candidates, namely Anies Baswedan-Muhaimin Iskandar, and Ganjar-Mahfud.

Based on Kompas Research and Development data as of 07.54 PM, Wednesday (14/2/2024), 84.45% of the votes had been received. As a result, Prabowo-Gibran 58.81%, Anies Baswedan-Muhaimin Iskandar 25.12%, and Ganjar Pranowo-Mahfud16.07%. Data Indicator as of 07.55 PM, 89.30% of votes had been received. Prabowo-Gibran won 57.9%, Anies-Muhaimin 25.54%, and Ganjar-Mahfud 16.56%. Denny JA’s Lembaga Survey Indonesia (LSI) as of 07.57 PM, had 96% of the votes cast. The results showed Prabowo-Gibran 58.17%, Anies-Muhaimin 25.21%, and Ganjar-Mahfud 16.62%. Charta Politika has also received 62% of the incoming votes as of 07.58 PM, Prabowo-Gibran is again ahead with 57.63%, Anies-Muhaimin 25.9%, and Ganjar-Mahfud 16.45%. Poltracking with 88.9% of votes received as of 07.57 PM, the result was that Prabowo-Gibran also won 59.31%, Anies-Muhaimin 24.32%, and Ganjar-Mahfud 16.37%. Politika Research & Consulting (PRC) has also received 88.17% of the incoming votes as of 07.55 PM, Prabowo-Gibran won 59.28%, Anies-Muhaimin 24.22%, and Ganjar-Mahfud 16.51%.

Based on these interim results, what about the Indonesian economy?

Executive Director of the Segara Research Institute, Piter Abdullah, believes that investors have no problem with whoever is elected president. He said the most important thing is that the election process runs peacefully and does not trigger riots. Moreover, with the Presidential Election running in one round and the absence of demands from other parties, this provides more immediate certainty for investors. That way, investors can immediately take steps for new assignments and invest.

Meanwhile, Executive Director of the Center of Reform on Economics (CORE) Mohammad Faisal said that in election years many investors hold back and wait when deciding on investments. With elections running in one round, investors can decide their investment steps quickly.

“This means that business decisions, if one round is faster. Previously, many people had to wait and see, their decisions were delayed, delayed, now decisions are made quickly,” said Faisal.

With the interim results of this quick count, investors can also see the direction of government policy in the future. The temporary results for the Prabowo-Gibran pair are superior to those of other candidate pairs. That way, the couple will continue the policies of the Jokowi government era.

In terms of economic growth, Faisal assesses that it will experience a slowdown compared to 2023. He predicts that Indonesia’s economic growth will remain at 4.9-5%.

“Apart from one or two rounds, our economic growth will remain in 2024 like yesterday at 4.9-5%. So, this means there is a slight slowdown from 2023 which was 5.5% yesterday,” he explained.

The results of this quick count are not the official results of the 2024 Election. The official results of the 2024 Election will be known through the recapitulation carried out by the General Election Commission from 15 February to 20 March 2024.

February 14, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7193978/prabowo-gibran-unggul-quick-count-ini-prediksi-soal-dampak-ke-ekonomi)

Indonesia Has Exported Medical Equipment Worth IDR 3.3 Trillion

Director General of the Metal, Machinery, Transportation Equipment and Electronics Industry of the Ministry of Industry, Taufiek Bawazier said that the medical equipment industry was able to contribute significant foreign exchange to the country. In 2023, exports in the medical equipment industry sector will reach US$ 209.4 million or around IDR 3.26 trillion.

“The medical equipment industry has been able to contribute quite significantly to the country’s foreign exchange through its product export performance which reached US$ 209.4 million throughout 2023,” he said in a written statement, Thursday (8/2/2024).

He added that the domestic medical equipment industry has demonstrated its capabilities in the international arena through participation in the Arab Health 2024 exhibition in Dubai. Arab Health 2024 is the second largest health sector exhibition in the world, attended by more than 3,450 exhibitors and 110,000 healthcare professionals from 180 countries.

A total of 19 local companies displayed various superior products, including high-tech ones, in the 90 square meter Indonesian Pavilion. The products on display include ventilators, electromedical devices, syringes and blood pressure measuring devices.

The Director General of ILMATE stated that currently the domestic medical equipment industry which is part of the Indonesian Medical Device Manufacturers Association has more than 200 members with a wide product range. For example, from hospital furniture to high-tech health equipment such as X-Ray.

At the Arab Health 2024 event, the Indonesian Pavilion received a visit from officials of the Dubai Health Authority (DHA), which is the health authority in the Dubai area and has the authority to oversee various international clinics and hospitals.

Special Advisor from DHA, H.E. Dr. Younis Kazim and DHA Director General, H.E. Awadh Seghayer Al Ketbi had the opportunity to discuss the capabilities of the Indonesian medical equipment industry and see firsthand the various medical equipment products displayed at the Indonesian Pavilion.

“Finally, we learned that Indonesia has been able to produce ventilators independently. This shows the rapid development of the medical equipment industry in Indonesia and could open up opportunities for cooperation in the future,” he said.

Therefore, the Indonesian government continues to encourage the domestic medical equipment industry to expand into international markets, including the United Arab Emirates. This country is an important export destination considering its strategic location as an international hub to penetrate markets from Africa to Europe. Several types of local medical equipment that can be encouraged for export are hospital furniture, which meets ISO standards and meets international requirements for quality safety and benefits.

February 8, 2024, detikFinance

(https://finance.detik.com/industri/d-7183622/top-ri-sudah-ekspor-alat-kesehatan-senilai-rp-3-3-triliun)

Indonesia Will Build a Modern Shrimp Pond in East Sumba Worth IDR 7.5 Trillion

The government will build a modern shrimp cultivation pond or model of integrated upstream and downstream cultivation (Integrated Shrimp Farming) in Palakahembi Village, Pandawai District, East Sumba Regency, East Nusa Tenggara (NTT). Construction is targeted from 2024 to 2027, with a budget of US$ 500 million or approximately IDR 7.5 trillion. The Ministry of Maritime Affairs and Fisheries (KKP) and the East Sumba Regency Government have reached an agreement. The Minister of Maritime Affairs and Fisheries, Sakti Time Trenggono, said that the construction of this pond in East Sumba was carried out to grow the economy outside Java.

“We will build an integrated shrimp cultivation model in East Sumba, NTT to grow the economy and distribute it to Eastern Indonesia, not just Java,” said Trenggono, in his statement, quoted Thursday (8/2/2024).

The central and regional governments of East Sumba have signed a cooperation agreement on borrowing and using goods belonging to the region of East Sumba Regency and a Memorandum of Agreement between the Director General of Aquaculture and the Regent of East Sumba, which was carried out at the KKP Building, Tuesday (6/2/2024) yesterday.

Trenggono said that the construction of a modern and environmentally friendly shrimp pond model would be built on unused land to become productive land, in order to increase national production and employment, as well as provide a multiplier effect for local communities.

Director General of Aquaculture, TB Haeru Rahayu explained that the construction of a modern shrimp pond model in East Sumba will start from 2024 to 2027, with a budget of US$ 500 million or approximately IDR 7.5 trillion.

“This shrimp pond modeling was built by implementing Good Aquaculture Practices from upstream to downstream in one management, where every process carried out will apply the principle of eco-efficiency and prioritize the preservation of natural resources, controlling the impact of environmental damage, and involving local communities as actors. “The main thing is economic growth,” explained TB Haeru. TB Haeru also said that through the construction of a modern shrimp pond model in East Sumba, economic value of approximately IDR 3.4 trillion per year will be distributed and will be able to absorb a local workforce of around 4,730 people for upstream to downstream needs.

Integrated Shrimp Farming Development will be divided into 3 (three) Zones, namely: a) Upstream Zone (hatchery and feed factory); b) Onfarm Zone (intake channel, main reservoir, cluster reservoir, maintenance plot, outlet channel, Cluster WWTP and vegetation); c) Downstream zone (coldstorage, ice factory, and styrofoam factory).

February 8, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7183462/pemerintah-mau-bangun-tambak-udang-modern-di-sumba-timur-senilai-rp-7-5-t)

Economic Impact of F1 Powerboat on Lake Toba, Indonesia

State-Owned Enterprise Holding (Tourism and its Supporters), PT Aviasi Wisata Indonesia (Persero) or InJourney will again present the F1Powerboat international motorboat racing event on March 2-3, 2024,on Lake Toba. The hope is that F1Powerboat 2024 will have an even greater double impact considering that last year it had an economic impact of up to IDR 1.68 trillion. F1Powerboat 2024 on Lake Toba is planned to be held in Balige, Toba Regency, North Sumatra. A total of 18 international racers from around 10 countries will take part in F1Powerboat on Lake Toba. In order to enliven F1Powerboat, InJourney will present a side event that is no less lively. This time, InJourney will present the Solu Bolon competition between North Sumatra districts and also the First Aquabike Indonesian Championship Series competition which will be attended by approximately 30 Indonesian jetski athletes. Apart from that, the side event will also present a cultural and MSME festival from February 29 to March 3, 2024.

“We are collaborating with all parties to jointly encourage the potential of Lake Toba as one of the 5 Super Priority Tourism Destinations (SPTDs) which continues to be recognized on the international stage. One of the efforts to encourage the tourism sector in Lake Toba is to make it a water sport tourism, ” said the Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan in a statement to InJourney, Thursday (8/2/2024).

He added that holding international scale events is a motor and catalyst for the region in carrying out promotions so that in the end it will create an extraordinary multiplier effect for the economic growth of the surrounding community.

“We are grateful that by holding two international events on Lake Toba, namely the F1Powerboat and Aquabike Jetski World Championship, the name of Lake Toba has come back to life. The extraordinary exposure has made Lake Toba included in the New York Times list of must-visit destinations,” added Luhut.

Minister of Tourism and Creative Economy, Sandiaga Uno, said that the Government had made massive investments in 5 SPTDs, so sustainable events were needed to continue to increase tourist traffic.

“The presence of the F1Powerboat event has been proven to stimulate the community’s economy and has also become a forum for MSME players to develop their businesses to become bigger. We hope that this year’s F1Powerboat can have a bigger economic impact than last year,” said Sandiaga.

Sandiaga added that in 2023 the number of foreign tourist visits to Indonesia will increase to 11.7 million. This increase is also supported by interesting and high-quality events, one of which is F1Powerboat.

The Minister of Youth and Sports, Dito Ariotedjo, expressed his pride in the enthusiasm of residents around Lake Toba at previous international events, especially the 2023 Aquabike Jetski World Championship which was able to attract up to 200,000 visitors. This shows the potential for water sports tourism in Indonesia to become a special attraction for the community.

Last year, through the Aquabike Jetski World Championship 2023, Indonesia successfully hosted the international jetski championship. This success was recognized by the Founder of H2O Racing Management, Nicolo Di San Germano, who said that Lake Toba is the best venue in the world as a jetski racing location because of the beauty, splendor and charm of Lake Toba. This year’s F1Powerboat event will also be enlivened by the first Aquabike Indonesian Championship series. In this event, 2 categories will be held, namely endurance and parallel slalom. Around 20 national racers will take part in this event. This opportunity will open up opportunities for athletes to improve their best performance in the next Aquabike World Championship on Lake Toba.

February 8, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7183147/f1powerboat-digelar-2-3-maret-2024-di-danau-toba-ini-dampaknya-ke-ekonomi)

Indonesia Cooperates Chinese Company Imported a New Electricity Circuit Train Worth IDR 6.84 Trillion

PT Kereta Commuter Indonesia (KCI) or KAI Commuter signed a new cooperation contract for the procurement of electric railroad (KRL) facilities with a company from China, CRRC Sifang Co., Ltd. Procurement is part of a series of fulfillment of Jabodetabek KRL facilities. The signing of the KRL facilities procurement contract was held on Wednesday (1/31/2024) in Beijing, China. KCI President Director, Asdo Artriviyanto, said that KCI bought three new KRL series with the KCI-SFC120-V type.

“The procurement of this new KRL facility is the fulfillment of the number of KRL facilities in accordance with the needs of the Jabodetabek Commuter Line user service in 2024 -2025 which has reached nearly 1 million users per day,” Asdo said in an official statement, Wednesday (1/31/2024).

Asdo said that the procurement of new KRL facilities was a follow -up to the series of fulfillment of the Jabodetabek KRL facility which was discussed in a coordination meeting chaired by the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan in June 2023. The Ministry of Industry, BPKP, PT INKA, and other stakeholders.

In fulfilling the procurement of this KRL facility, Asdo explained that the KCI had signed the cooperation in the procurement of KRL facilities, among others: 1. Procurement of 16 (sixteen) series of new KRL facilities by PT INKA with a total investment of almost IDR 3.83 trillion; 2. Procurement of 19 (nineteen) Retrofit KRL series by PT INKA with a total investment of more than IDR 2.23 trillion; 3. Procurement of 3 (three) new KRL series imports by CRRC Sifang, China with a total investment of around IDR 783 billion.

If calculated, the total cooperation is worth IDR 6.84 trillion. As for all its financing, KCI was obtained through a shareholder loan scheme from PT KAI and assistance from the government through the Participation of State Capital (PMN). KCI also expressed his gratitude for the support of the government and stakeholders for the procurement of KRL facilities including supporting funding through PMN.

“The procurement of imports of the new KRL facilities is also the last process of the series of KRL facilities by the KAI Commuter in accordance with the results of the coordination meeting led by the Coordinating Minister Marves,” Asdo added.

Asdo explained, that the procurement of KRL facilities was carried out to add user transport capacity and replacement KRL facilities to be retrofit by PT INKA. KRL facilities that have entered the rejuvenation period will continue to be replaced by the retrofit process to maintain the operational needs of the Jabodetabek Commuter Line Service with a target of 1.2 million users per day in 2025.

In 2023 yesterday, the KAI Commuter recorded a total of 290,890,677 Jabodetabek Commuter Line Commuter Line. This figure is 38% greater than the volume in 2022, which is 239,254,813 people. KAI Commuter also predicts the volume of Jabodetabek Commuter Line user user by 4% per year or an increase of 16.98 million users each year.

Previously on November 9, 2023, KCI also signed an MoU with CRRC Qingdao Sifang Co. Ltd. for mutual cooperation in the development of railroad facilities in Indonesia. Starting from the procurement of Electric Multilple Unit (EMU) facilities or a train with electricity or multiple unit diesel (DMU) or a train with a diesel. The MoU serves as a forum for technology sharing, maintenance of facilities, increasing the capacity of facilities, procurement of spare parts, and increasing railroad human resources. This memorandum of understanding is also an update from the cooperation that has been carried out in previous years.

January 31, 2024, detikFinance

(https://finance.detik.com/infrastruktur/d-7170395/kci-gandeng-perusahaan-china-impor-rangkaian-krl-baru-rp-6-84-triliun)

Finland Invest Through 15 Companies in IKN Indonesia

The Authority of the Capital City of Nusantara (IKN) in collaboration with the Ministry of Economic Affairs and Employment and Tampere City, the Republic of Finland in the development of the area in East Kalimantan. Minister of Economic Affairs and Employment Finland Wille Rydman said, there are 15 Finnish companies that are interested in investing in IKN.

“So, we have 15 leading Finland companies in our delegation, they represent various types of fields in terms of planning,” he said at the Menara Mandiri Jakarta Building, Monday (1/29).

Wille said, 15 companies from Finland that will review the IKN area are related to the field of Smart City. As is known, the construction of IKN is predicted to be a smart city in Indonesia.

“There are energy companies, there are electronic vehicle companies, there are several other companies in terms of digital connectivity, as well as 5G and 6G networks, special companies, so there are several types of branches represented,” he explained.

Wille revealed, the relationship between Finnish and a good Indonesia can create profits from each other, especially projects of projects both between the government and the private sector in the archipelago.

“We have a strong tradition for government and private partnerships so that we are committed to the archipelago project, both at the political level but also at the private level because our companies really want to be involved in this project,” he said.

According to him, Finnish knowledge in terms of smart city planning is something that is very much needed and requested in the archipelago project. There is a great opportunity for business interests that are mutually beneficial for the two countries.

“We are located quite far from each other, but the global challenges faced are shared challenges and it is very important for us to share experiences and learn from one another,” he explained.

While the Head of the Capital Authority (IKN) Bambang Susantono revealed, in developing the IKN area, Indonesia needs to study with Finland which holds a state title with the number one happiness index in the world.

“Bringing a title like that, how the methodology is, how we measure it later will be carried out academic studies and there will also be a pilot project for it, and we will do this soon,” he said at the Menara Mandiri Jakarta Building, Monday (1/29).

Bambang continued further, IKN also wanted to learn from Finland in the aspect of education. Because the country is the country with the best education in the world.

“The second is Finland is very family on education. One of The Best Education Country in the world. We also want to learn from them how we will educate educational facilities in the archipelago we will do together in the future,” he explained.

In addition, things that need to be learned are also from Finland, said Bambang, in the field of Smart City. Later, IKN development will be more dominant using digital technology elements. “How we will later apply technology for digital technology that is smart but still inclusive is important for all of us in the context of we become a city that is truly loved,” he said.

Bambang added, even so, these three things will be adjusted to the political, social, cultural culture of Indonesia itself. “The concepts are tried later to be seen in the condition in the condition of the archipelago and certainly not raw we adopt,” he concluded.

January 29, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/market/20240129132618-17-509826/ini-alasan-finlandia-boyong-15-perusahaan-buat-investasi-di-ikn)

Indonesia and Tanzania Starts Negotiations of the Preferential Trade Agreement

President Joko Widodo today received a visit from President Tanzania Samia Suluhu Hassan. The bilateral meeting was held during Samia’s visit to Indonesia. Jokowi explained that one of the results of the bilateral meeting was his agreement, negotiations of the Preferential Trade Agreement (PTA) trade agreement between Indonesia and Tanzania. The Preferential Trade Agreement negotiations between Indonesia and Tanzania, said Jokowi, will be carried out this year. The two countries will form a team to discuss in the near future.

“Regarding trade, the preferential trade agreement will be formed to increase trade between the two countries. Negotiations will begin this year,” Jokowi explained in a joint press statement with Samia, at the Presidential Palace Bogor, West Java, Thursday (1/25/2024).

Preferential Trade Agreement itself is a trade agreement between countries that agreed to reduce tariffs for certain products originating from countries that signed the agreement. This agreement makes export tariffs applied to lower-traded products. This is done so that commodities can more easily go in and out between countries.

In addition to agreeing on the discussion of Preferential Trade Agreement between Indonesia and Tanzania, Jokowi and Samia also agreed on the formation of Bilateral Investment Treaty (BIT). This agreement is believed to provide protection for investment between Indonesia and Tanzania.

“I have also conveyed the importance of the formation of bilateral investment treatment for the protection of investment cooperation between the two countries,” Jokowi said.

January 25, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7159696/ri-dan-tanzania-mulai-nego-perjanjian-dagang-tahun-ini)