Jokowi Meets Elon Musk After Nickel Talks

President Joko “Jokowi” Widodo met Tesla Inc Chief Executive Elon Musk on Saturday in Texas to discuss potential investments and technology, Indonesia’s government said in a statement. The meeting between Musk and Jokowi came after a round of working-level discussions on a potential investment in Indonesia’s nickel industry and supply of batteries for electric vehicles, Indonesian officials told Reuters.
Representatives from Tesla were in Indonesia last week for meetings regarding a potential battery-related investment, Indonesian officials and two people familiar with the talks have said. Indonesia for years has been trying to secure a deal with Tesla on battery investment and potentially for Musk’s SpaceX aerospace company. Indonesia for years has been trying to secure a deal with Tesla on battery investment and potentially for Musk’s SpaceX aerospace company.
“There could be room for partnerships in many things because Indonesia has a lot of potentials”, Elon Musk said.
Indonesia has the world’s biggest nickel reserves, and Jokowi is keen to develop a nickel-based EV industry at home – from making nickel metal to producing battery components and assembling electric vehicles. In the past, he has also urged Musk to consider a rocket launch site in Indonesia. Two deals over the past month have given new momentum to Jokowi’s push to develop an EV-related industry at a time when global automakers have been scrambling to secure supplies of battery materials and reduce their reliance on China.
A consortium led by South Korea’s LG Energy Solution Ltd, the global No. 2 maker of EV batteries, announced plans last month to invest $9 billion in Indonesia as part of a deal that would include everything from nickel refining to producing battery cells in Indonesia. LG’s larger rival, China-based Contemporary Amperex Technology, a Tesla supplier, announced a $9 billion Indonesia investment in April.

May 15, 2022, TheJakartaPost

Cianjur, Indonesia Saves World’s 2nd Largest Treasure, Only Used 9%

Survei Pendahuluan dan Eksplorasi known as WPSPE) in the Cipanas Region, Cianjur Regency, West Java Province. The following is the official statement from the Ministry of Energy and Mineral Resources regarding the offered Geothermal WPSPE:

  • WPSPE Name : Cipanas
  • Geothermal WPSPE Location : Cianjur Regency, West Java Province
  • WPSPE area : 3,180 Ha
  • Potential : 85 MWe (Reserve)

It is hoped that the development of geothermal energy into a source of electrIndonesia has a ‘treasure’ in this case new renewable energy resources (EBT) in the form of geothermal or geothermal in the Cipanas area, Cianjur Regency, West Java. Currently, the 2nd largest treasure in the world has only been worked on by Indonesia, reaching 9.5%. The Geological Agency of the Ministry of Energy and Mineral Resources (ESDM) noted that Indonesia’s geothermal resources as of December 2020 reached 23,965.5 Mega Watts (MW) or around 24 Giga Watts (GW). Meanwhile, the United States is ranked number one for geothermal resources, reaching 30,000 Mega Watts (MW).
The plan to work on geothermal energy sources in Cianjur is marked by the bidding of the Geothermal Preliminary and Exploration Survey Assignment Area (Wilayah Penugasan city in the country will increase. The reason is, until the end of 2021, the installed capacity of the Indonesian Geothermal Power Plant (PLTP) was recorded at only 2,276.9 Mega Watt (MW), only an increase of 146.2 MW from the total installed capacity in 2020 which was 2,130.7 MW.
This means that the total installed capacity of PLTP RI until the end of 2021 is only about 9.5% of the total existing resources. Thus, there is still a lot of geothermal potential in the country that has not been exploited.

May 14, 2022, CNBC Indonesia

Pertamina and Chevron Sign Cooperation of Rp146 Trillion

Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia revealed the investment value of the collaboration between PT Pertamina (Persero) and Chevron Corporation through its subsidiary, Chevron New Ventures Pte. Ltd. The total deal is worth US$ 10 billion or equivalent to Rp146 trillion (exchange rate of Rp14,600/US$). This investment is to encourage the optimization of Indonesia in promoting new and renewable energy.
“Geothermal is one of our mainstays that has been driven so far. Incidentally, Chevron and Pertamina have had good relations for decades. This will optimize the total investment of US$ 10 billion for the next 10 years,” he said at a press conference, quoted by Antara. from the Presidential Secretariat YouTube channel Friday (13/5/2022). Bahlil believes that if the agreement is carried out, then Indonesia’s goal to become the center of the downstream industry for new and renewable energy can be achieved.
For information, PT Pertamina (Persero) with its subsidiary Chevron Corporations, Chevron New Ventures Pte. Ltd. has signed a Memorandum of Understanding (MoU) to explore potential low-carbon business opportunities in Indonesia.

May 13, 2022, DetikFinance

Palm Oil Board Confident Export Ban Could End in May

Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets. The world’s top palm oil producer expanded an export ban on raw materials for cooking oil to include shipments of crude palm oil and most of its refined products just hours before it took effect at midnight Wednesday, in an attempt to secure domestic supply and bring down soaring prices.

Sahat Sinaga, the senior official at the Indonesian Palm Oil Board, said that decision had shocked the industry, but that he was confident the supply issue could be resolved not long after the Muslim festival of Idul Fitri in early May. He added that a palm oil export target of 34 million tonnes in 2022 would be met. Asked about the timeline suggested by the palm oil board, Trade Ministry senior official Veri Anggrijono said “we are all hoping this can be solved quickly”.

A trade ministry regulation on Wednesday said the export policy would be reviewed monthly, or as often as needed, while Chief Economics Minister Airlangga Hartarto said it could be lifted when bulk cooking oil recedes to 14,000 rupiahs ($0.97) a liter nationwide. Previous measures to tame prices had failed due to distribution problems, not supply shortages at factories, Sinaga said. “It will be a great success. It won’t take long. After Eid, the market will be flooded,” he said.

Markets had shown relief when Indonesia’s chief economic minister said on Tuesday the ban would only cover refined, bleached, and deodorized (RBD) palm olein, but a day later authorities announced other products would be included. That had an immediate impact on global vegetable oil prices, sending palm oil futures in Malaysia up by 9.8 percent. The jitters spilled over into markets on Thursday as the ban took effect.

Trade Minister Muhammad Lutfi said the decision was taken after careful consideration and monitoring the cooking oil supply daily.  “I hope we all understand the urgency of this policy,” Lutfi said.

April 29, 2022, The Jakarta Post


Best Stock Exchange in the Asia Pacific: IDX Composite

Indonesian financial market trading, including the stock market aka IDX Composite in April 2022 officially ended on Thursday (28/4/2022), wherefrom April 29 to May 6, 2022, JCI trading was closed due to Eid long holiday 1443 H. Throughout April this year, the IDX Composite recorded a fairly good performance, where the index of the country’s stock exchange rose to 2.23% point-to-point. In fact, the IDX Composite’s performance in April was the best in the Asia-Pacific region, where the majority recorded a correction. Only the IDX Composite and the Malaysian stock exchange (KLCI) recorded positive performances in April this year.   

            The IDX Composite’s bright streak in April this year was supported by net purchases by foreign investors, where foreigners continued to hunt for Indonesian stocks throughout this month, even though market sentiment continued to fluctuate. Throughout April this year, foreigners have been chasing Indonesian stocks up to Rp40.87 trillion in all markets, with details of Rp17.73 trillion in the regular market and Rp23.14 trillion in the cash market and negotiations.  

            Indeed, from its movement, the IDX Composite also tends to be volatile due to market sentiment which tends to fluctuate throughout April this year. However, the JCI has never touched the psychological level of 6,900 this month. Even in April this year, the IDX Composite still set a record high (all-time high/ATH), where the highest level of the IDX Composite is currently at 7,276.19, which was created on April 21.

April 29, 2022, CNBC Indonesia


Jokowi’s Target in 2023: Economy Grows 5.9%, Poverty Becomes 7.5%

The government of President Joko Widodo (Jokowi) has compiled a government work plan (RKP) for 2023 which contains economic targets and targets to development plans for next year. The theme of the RKP is “Increasing Productivity for an Inclusive and Sustainable Economic Transformation”.

Minister of National Development Planning/Head of Bappenas Suharso Monoarfa said “The development target in the initial draft RKP 2023 was economic growth of 5.3% to 5.9%,” in the 2022 National Development Planning Consultation (Musrenbangnas), Thursday (28/4/2022).

Indonesia’s poverty rate, which had risen due to the COVID-19 pandemic, is expected to fall again next year. At least it can reach the 7.5% level. Not only poverty, but the government also hopes that the open unemployment rate can drop to the level of 5.3%-6% in 2023. Currently, Indonesia’s open unemployment rate until August 2021 is 6.49%.

Another development target is the Gini ratio, which is expected to drop to 0.375 next year. And the Human Development Index headed to the level of 73.31. The government also plans to reduce greenhouse gas emissions to 27.02%. Meanwhile, the exchange rate for farmers is 103-105 and the exchange rate for fishermen is 106-107.

April 28, 2022, detikFinance


Bali to Host UN Conference on Disaster Risk Reduction

This year Indonesia is lined up to host a number of prestigious international events, one of which is the Global Platform for Disaster Risk Reduction (GPDRR) 2022 which will be held at the Bali Nusa Dua Convention Center (BNDCC), Bali, on 23 – 28 May 2022.

The GPDRR is a multi-stakeholder conference organized by the United Nations (UN) Agency. This conference is a very valuable momentum for the Indonesian government to show its leadership in encouraging global partners to strengthen collaboration to recover together from the crisis, especially in the context of climate change to handling the COVID-19 pandemic. In other words, GPDRR will be a space to review progress, share knowledge, and discuss the latest developments and trends in disaster risk reduction efforts.

The Minister of Tourism and Creative Economy/Head of the Tourism and Creative Economy Agency, Sandiaga Salahuddin Uno, in his statement, said that the recovery of the tourism and creative economy sector after the COVID-19 pandemic is a top priority for the Ministry of Tourism and Creative Economy based on the pillars of innovation, adaptation, and collaboration to deliver policies that are right on target, with the right benefits, and on time. The appointment of Indonesia as the host of the Global Platform for Disaster Risk Reduction shows the world that Indonesia is increasingly resilient and strong in dealing with disasters. Indonesia itself is one of the countries that implement best practices for pandemic control in the world.

In addition, President Joko Widodo advised that this international forum is not only to show Indonesia’s role and practice in reducing disaster risk but also to become a momentum in promoting Indonesia’s tourism and creative economy to the 2022 GPDRR delegates who are projected to be attended by more than 5,000 participants from 193 countries.

April 27, 2022, detikTravel


Luhut-Led Delegation Meets Elon Musk to Talk Investing in RI, EVs

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan led an Indonesian delegation to a meeting with Tesla CEO Elon Musk in the United States to talk about potential investments in Indonesia’s electric vehicle (EV) industry. Leading business figures Anindya Bakrie and Pandu Sjahrir, who were part of the delegation, took to Instagram on Tuesday to post updates about the meeting at Tesla’s new factory in Austin, Texas. 

            “We aim to convince Tesla to explore partnerships with Indonesia in the procurement and development of nickel [as a] raw material for battery cells based on ESG,” Anindya wrote, referring to the environmental, social, and governance (ESG) standards of doing business.

            Musk said in July 2020 that Tesla would grant a “giant contract for a long period of time” to nickel miners that operated “efficiently and in an environmentally sensitive way” as part of the carmaker’s ESG commitment. The meeting aimed to woo Tesla to invest in Indonesia amid the government’s efforts to pursue President Joko Widodo’s goal of developing the downstream mining sector.

            Indonesia made global headlines in 2020 when it banned nickel ore exports in a bid to force miners to develop their downstream nickel businesses, particularly for manufacturing stainless steel and electric vehicle batteries (EVBs). The following year in March, the government launched the Indonesia Battery Corporation (IBC), a state-owned EVB company.

            The delegation also extended a formal invitation to Musk to join the Business 20 (B20) International Advocacy Caucus under Indonesia’s G20 presidency, added Anindnya, who also chairs the advisory board of the Indonesian Chamber of Commerce and Industry (Kadin).

Meanwhile, Pandu said in his Instagram post that the meeting discussed EVs, renewable energy, and the B20 policy, adding that Musk was “very excited” to talk about developing Indonesia’s nickel and EV industries. Pandu, who is Luhut’s nephew, wears several hats, including chairman of the Indonesian Coal Association (APBI) and a board member of on-demand and payment services super-app Gojek.

“Hopefully this meeting will bring in more [high-tech investment] and Indonesia can be an important part of the global electric vehicle industry,” he wrote in his post.

April 26, 2022, The Jakarta Post


Peeking at Indonesian Pearl Export Opportunities, The Cunt Makes You Drool

As a maritime country, Indonesia has a myriad of marine and fisheries potentials. Not only fish for consumption, but also pearls as decoration as well as beautify themselves. The Director General of Strengthening the Competitiveness of Marine and Fishery Products (PDSPKP), Artati Widiarti, said that the Indonesian South Sea Pearl (ISSP) has a number of advantages. “One of them is a larger size between 9-17 mm with a color range from white, silver to gold, so it is very popular in foreign markets. Pearl cultivation centers are spread across the provinces of Bali, NTB, NTT, North Sulawesi, Southeast Sulawesi, Maluku, North Maluku and Papua,” said Artati Widiarti.

As an illustration, Indonesia’s pearl exports for the 2017-2021 period fluctuated, from US$ 51.4 million in 2017, decreasing to US$ 44.4 million in 2021 (Central Bureau of Statistics 2022, processed by the Directorate General of PDSPKP). ISSPs are generally traded in the form of loose and jewelry through auctions in both domestic and international markets, mainly in Japan, Hong Kong and Australia.

The Minister of Maritime Affairs and Fisheries, Sakti Wahyu Trenggono, reminded that marine health is the key to business in the marine and fisheries sector, which can run in the long term. According to him, the sea will continue to produce optimally if the environment is also in a healthy condition, and in the end it will bring the greatest social and economic benefits to everyone who depends on it.

April 15, 2022, detikFinance


Official! The Lagoi Area has been Chosen as the Location for the Bintan F1 Circuit

The Lagoi area has been chosen as the location for the construction of the Bintan International Circuit. The development, which is planned to become a Formula 1 racing area and other international races, is known to require an investment of more than Rp1 trillion, which purely comes from a private consortium without APBN/APBD. The location selection was carried out by the Chairman of the MPR RI as well as the General Chair of the Indonesian Motor Association (IMI) Bambang Soesatyo along with the Governor of the Riau Islands Ansar Ahmad and the Executive Director of Gallant Venture Pte LTD Frans Gunara as managers of the Bintan area.

Bamsoet said the presence of the Bintan International Circuit would make Indonesia equal with other major countries in the world in organizing the world’s prestigious motorsport championships. Moreover, Formula 1 has been recorded to have been held in 21 countries spread across 5 continents. He added that the Bintan International Circuit, which will utilize an area of about 237 hectares, according to him, would complement the Pertamina Mandalika International Circuit, which has hosted MotoGP.

Furthermore, Bamsoet revealed the progress of the development in addition to determining the location. He said that Populous as an international consultant from England who handled the landscape design of the circuit area had finalized the Detail Engineering Design (DED), including the design of the circuit track.

“It is planned that in the circuit there will be 17 corners for Two-Wheel Motorcycles, and 18 corners for Formula 1. The consortium team is currently finalizing a business development plan in the Bintan International Circuit area. It is targeted that by May 2022 all business plans have been completed, so that President Joko Widodo will be able to groundbreaking the construction of the Bintan International Circuit,” said Bamsoet in his statement, Thursday (14/4/2022).

The presence of the Bintan International Circuit as a Formula 1 Circuit in Indonesia will later bring many advantages. In addition to increasing the passion for car racing in improving athlete achievement, it can also absorb jobs as well as become a driving force for the Riau Islands and national economy. In addition to getting economic benefits, Indonesia can also benefit from the country branding side.

April 14, 2022, detikOto