Tag: Indonesia and China business

PT Pertamina (Persero) has again listed its name as the only Indonesian company to be included in the 2022 Fortune Global 500 list. Pertamina is ranked 223, up 64 places compared to 2021 which is in position 287. In 2022, the Fortune Global 500 places 30 world oil and gas companies in the Petroleum Refining category. Pertamina is at number 21 above Idemitsu & Repsol.

The Minister of State-Owned Enterprises, Erick Thohir, appreciated Pertamina’s success in re-entering the Fortune Global 500 with a significant increase in ranking. The increase provides evidence that State-Owned Enterprises can compete with global companies.

“I highly appreciate the directors, commissioners, and all Pertamina personnel who work hard in increasing the company’s competitiveness in the international arena. The transformation through holding and sub-holding makes Pertamina’s operations more effective and efficient because it focuses on core business. This is in line with our target that Pertamina must become a Global Energy Champion company and have a valuation of US$ 100 billion,” Erick said in a written statement, Tuesday (9/8/2022).

Erick said Pertamina’s success shows that State-Owned Enterprises are not only able to survive in the face of a pandemic, but can also improve performance with various innovations. This achievement is said to be inseparable from the steps of transformation and restructuring through the formation of holdings and sub-holdings.

Erick hopes that this achievement can be an inspiration for other State-Owned Enterprises to be able to speak more on the world stage. He believes that other state-owned companies can also imitate Pertamina’s footsteps as long as they are able to optimally implement the transformation and core values of morality.

“The better the performance of State-Owned Enterprises, especially until they are recognized by the world, will certainly have a significant impact on the community. Positive performance will certainly provide a large space for State-Owned Enterprises to contribute more to increasing economic growth, maintaining market balance, to economic programs. people,” said Erick.

August 9, 2022, detikFinance

(https://finance.detik.com/energi/d-6224398/pertamina-masuk-daftar-fortune-global-500-lagi-naik-64-peringkat)

The Central Statistics Agency (BPS) announced Indonesia’s economic growth data for the second quarter of 2022. The result is in line with expectations, and the country’s economy is growing high. In the midst of global inflationary pressures and economic recession, Indonesia grew impressively by 5.44% in the second quarter of 2022, which indicates that the trend of economic recovery is continuing and strengthening. Indonesia’s Gross Domestic Product (GDP) grew 3.72% compared to the previous quarter (QoQ), Gross Domestic Product (GDP) at the current price of IDR 4,919.9 Trillion.

GDP growth by business sector (YoY), still led by Transportation and Warehousing with 21.27%, ETC 5.79%, Trade and Repair 4.42%, Mining and Processing industry with 4.01 and Agriculture 1.37 respectively %. Meanwhile, Gross Domestic Product (GDP) by Expenditure (YoY), led by exports at 19.74%, imports at 12.34%, household consumption at 5.51%, LNPRT consumption on 5.04%, PMTB at 3.07%, and government consumption down to -5.24%.

GRDP growth was still led by Java Island at 56.55%, followed by Sumatra at 22.03%, Bali and Nusa Tenggara at 9.09%, and Kalimantan at 9.09%. The contribution of GRDP by region is led by Maluku and Papua 13.1%, Sulawesi 6.47%, Java 5.66%, and Sumatra 4.95%.

August 5, 2022, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20220805190813-16-361543/jauh-dari-resesi-ekonomi-indonesia-tumbuh-544)

Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said Japanese companies would invest in Indonesia amounting to IDR 75.4 trillion next year. This is the result of a meeting of President Joko Widodo who was accompanied by ministers with the bosses of Japan’s top companies. Investments vary, ranging from methanol development, and car factory expansion, to the development of new and renewable energy.

            “Thank God we can make a business deal and it can be realized next year at IDR 75.4 trillion, US$ 5.2 billion. New investments, especially in the field of methanol development, car expansion, then NRE. The President explicitly stated that please take care of the investment, if there is a problem, please go to the Minister of Investment, if it is not finished, the President himself will help him,” said Bahlil in a virtual press conference, Wednesday ( 27/7/2022).

            Japanese entrepreneurs have appreciated the reform of business regulations in Indonesia through Law Number 11 of 2020 concerning Job Creation. In addition, Bahlil also stated that the government would provide support in the form of accelerated business licensing services, providing incentives, and various other facilities as well as escorting investment realization.

            In a written statement from the Ministry of Investment, several companies that expressed interest in investing include Toyota Motor Corp in the field of hybrid-based vehicles, Sojitz Corp in the methanol project in collaboration with PT Pupuk Indonesia, and Mitsubishi Corp in the automotive industry and polyester film.

Then, Mitsubishi Motors Corp. wants to invest in the automotive industry, Mitsubishi Chemical Corp. is interested in investing in the polyester film industry, and Denso Corp. wants to relocate its business from America to the auto parts industry. Mitsubishi Chemical Group Corporation has plans to expand its investment through its subsidiary, PT MC PET Film Indonesia (MFI) worth US$ 156 million.

Toyota Shusho in the field of Patimban Port management, Sharp Corp in the field of air conditioning factories, Inpex Corp in the oil and gas industry, and Kansai Electric Power in the power plant construction industry.

Sojitz Corporation Masayoshi conveyed the investment plan for a methanol project in collaboration with PT Pupuk Indonesia in West Papua with an investment plan value of US$ 1 billion. They are currently conducting a feasibility study which is planned to be completed by the end of 2022.

July 27, 2022, detikFinance(https://finance.detik.com/berita-ekonomi-bisnis/d-6202677/jokowi-bertemu-bos-bos-perusahaan-jepang-investasi-rp-75-t-bakal-masuk-ri)

Indonesia’s poverty rate decreased in the period March 2022. The Central Statistics Agency (BPS) reported that the poverty rate has now reached 9.54% or 26.16 million people. Head of BPS Margo Yuwono in a press conference on Friday (15/7/2022) said that compared to March 2021, there was a decrease of 0.60 points or 1.38 million people. Meanwhile, compared to September 2021, the decline in the poverty rate reached 0.17 points or 0.34 million people.

Margo said that the reduction in poverty could not be separated from the economic recovery that took place last year. It is hoped that this will continue in the future. “The 2021 economic recovery will have an impact on reducing poverty in March 2022,” he said.

Meanwhile, the poverty line experienced an increase of 3.97% compared to September 2021 to IDR 505,469 in March 2022.

July 15, 2022, CNBC Indonesia(https://www.cnbcindonesia.com/news/20220715100753-4-355861/tingkat-kemiskinan-ri-turun-kini-tersisa-2616-juta-orang)

The Central Statistics Agency (BPS) again reported that Indonesia’s trade balance in June 2022 experienced a surplus of US$ 5 billion. The surplus occurs because the balance of exports is greater than imports. Head of BPS Margo Yuwono said exports in June 2022 were recorded at US$ 26.09 billion. Meanwhile, imports in June were valued at US$ 21 billion, up 12.87% compared to last month. Thus, Indonesia again experienced a trade surplus because exports were greater than imports. It is known that this month Indonesia experienced a trade surplus of US$ 5 billion.

June 2022 Exports Reach US$ 26.09 Billion, Up 40.68%

“Exports were recorded at US$ 26.09 billion. An increase of 21.30% compared to May 2022. Annually exports also rose 40.68% compared to last June 2021. The composition of exports was supported by oil and gas and non-oil and gas. Non-oil and gas rose 22.71% for oil and gas 2.45%. Meanwhile, exports in June compared to June last year increased by 40.68% and non-oil and gas were 41.89%, while oil and gas were 23.68%, forestry agriculture by 23.30%, processing industry by 29.21%, and other mining by 6.22%. When viewed per sector, the highest month to month in the manufacturing industry group was 29.21%. If you look at the drivers of increasing exports of the palm oil processing industry, garments made from textiles,” said Margo Yuwono.

July 15, 2022, DetikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-6180209/lagi-dan-lagi-neraca-dagang-ri-surplus-26-bulan-beruntun-kini-us-5-miliar)

(https://finance.detik.com/berita-ekonomi-bisnis/d-6180181/ekspor-juni-2022-tembus-us-2609-miliar-naik-4068)