Tag: international business

The 2023 Pertamina Grand Prix of Indonesia was held (13-15/10/2023). The 15th MotoGP 2023 series will be held at the Pertamina Mandalika International Circuit in Central Lombok, West Nusa Tenggara. This is the second season that the Mandalika Circuit is holding MotoGP after holding it for the first time in 2022.
In this 15th series, Francesco Bagnaia won the Mandalika MotoGP after completing 27 laps with a time of 41 minutes 20.293 seconds. Monster Energy Yamaha racer Fabio Quartararo was second and Aprilia Racing racer Maverick Vinales was third.
The number of spectators for the 2023 Mandalika MotoGP also exceeded the organizers’ target, reaching 103 thousand visitors. Mandalika Grand Prix Association (MGPA) Main Director Priandhi Satria said that the implementation of the 2023 Indonesian GP on the third day was very successful. Good circuit quality can encourage racers to show their best performance, as well as provide world-class spectacle to the audience.
Pertamina Mandalika International Circuit is said to have improved a lot. The Dorna boss did not hesitate to give praise. Carlos Ezpeleta, Dorna’s Chief Sporting Officer, said that improvements to the circuit that will host the 2023 Pertamina Grand Prix of Indonesia can be seen in terms of infrastructure.
“The first year of an event is always very challenging especially the first time we go to a new circuit. But last year was very successful and this year with the improvements that have been made to the asphalt and preparations also on the outside of the track with more roads, with more hotels. “With all the experience of this local team, it can definitely make it easier and will improve every year, but this year it will definitely be much easier,” he explained on the sidelines of the Pertamina Grand Prix of Indonesia in Mandalika, NTB.
Not only that, it turns out that logistics is also much more efficient compared to last year. Dorna has a big commitment to the sustainability of ESG Advanced in particular. He hopes that every year MotoGP will always be better than the previous year.
“Every year our intention is to be better, to have an even better event. We have discussed with the people here and with the Indonesian government so that we can have a bigger MotoGP footprint this year,” he added.
President Director of Dyandra&Co. Daswar Marpaung revealed that the success of the 2023 Indonesian GP cannot be separated from the various exciting side events at the Mandalika Circuit. According to him, a number of supporting programs and tenants presented helped support the enthusiasm of the audience present.
“The presence of side events is an added value for spectators who come to the four zones that we provide. A total of 103 MSMEs participated in enlivening this event, ranging from those providing food, drinks, crafts to clothing spread across various side event zones,” he said
The 2023 Pertamina Grand Prix of Indonesia event at the Pertamina Mandalika International Circuit has a direct impact on economic development. In just two days, Planogram Goes to Mandalika 2023 transactions at Zainuddin Abdul Majid International Airport (BIZAM) Lombok, West Nusa Tenggara (NTB) have reached IDR 2.9 billion. This was conveyed by the Minister of Tourism and Creative Economy, Sandiaga Salahauddin Uno, when reviewing the Goes to Mandalika 2023 Planogram on Saturday (14/10/2023).
He explained that Planogram Goes to Mandalika 2023 is an interactive installation featuring 100 MSMEs from the fashion, craft, culinary and intellectual property subsectors selected through a series of curations. Planogram is a space for promoting creative economy products for MSMEs from all regions in Indonesia, especially NTB, which could be a shopping tourism choice for the 2023 Mandalika MotoGP spectators.

October 11, 2023, detikTravel, detikSport, detikOto
(https://oto.detik.com/otosport/d-6985228/jumlah-penonton-motogp-mandalika-2023-lampaui-target-tembus-103-ribu)
(https://sport.detik.com/fotosport/d-6983689/momen-francesco-bagnaia-naik-podium-motogp-mandalika-2023)
(https://travel.detik.com/travel-news/d-6982792/sandiaga-motogp-mandalika-2-hari-pameran-umkm-cuan-rp-29-miliar)
(https://sport.detik.com/moto-gp/d-6983308/pujian-bos-dorna-untuk-sirkuit-mandalika)

The Archipelagic and Island States (AIS) Forum is a forum for cooperation between island and archipelagic countries around the world which aims to strengthen collaboration to overcome global problems in four main areas, namely climate change mitigation and adaptation, blue economy, handling plastic waste in the sea, and governance. good maritime. The AIS Forum Summit was held to strengthen the AIS Forum’s role as a center for smart and innovative solutions, as well as a platform for mutual cooperation in pushing forward the future agenda for global ocean governance.
President Joko Widodo (Jokowi) officially opened the Archipelagic and Island States (AIS) Forum Summit which was held in Bali. Jokowi said Indonesia was honored to host this activity.
“Welcome to Bali, Indonesia is honored to host the historic momentum of the first AIS Forum Summit, a forum to strengthen collaboration between archipelagic countries and island countries connected by the sea. The sea does not separate land, but the sea actually unites land. The sea actually glues and connects land,” said Jokowi as seen on the Presidential Secretariat’s YouTube account, Wednesday (11/10/ 2023).
Jokowi reminded us that what we have in common with archipelagic countries is that they have challenges with a number of issues regarding the management of marine resources. Therefore, he invited countries at the AIS Forum Summit to collaborate in solving problems related to island countries.
“As fellow archipelagic and island countries, regardless of whether they are big or small, regardless of being developed or developing, we share complex challenges that are interrelated and interconnected with each other, such as sea level rise, marine resource governance, and marine pollution. said Jokowi.
The 2023 Archipelagic and Island States (AIS) Forum High Level Conference (Summit) in Nusa Dua, Bali, resulted in four points of cooperation between Indonesia and the archipelagic and small island countries that are members of the AIS Forum. These four points are summarized in one area, namely maritime technology innovation.
Jokowi said the four points were climate change mitigation and adaptation, implementation of the blue economy, protection of marine ecosystems, and progress in marine governance. It is hoped that the innovations from the four points of cooperation can be implemented immediately. The goal is to create positive benefits for fishermen. Fishermen, continued Jokowi, really depend on the sea for their livelihood.
Indonesian Minister of Foreign Affairs Retno Marsudi said that there were other cooperation priorities that would also be produced during the 2023 AIS Forum Summit. Among other things, regarding the tourism ecosystem or ecotourism and marine waste. Retno said that the countries participating in the AIS Summit agreed on a declaration which included two things. Namely, an agreement to increase cooperation which is handled directly by the government in the context of the AIS forum. There will be an international organization that will emerge from this cooperation agreement. For this reason, the leaders of island countries through their ministers are encouraged to immediately form a road map.
Minister of Environment and Forestry Siti Nurbaya Bakar said forestry issues were also discussed during the 2023 AIS Forum Summit in Bali. Namely, the role of countries participating in the AIS forum that have forests in controlling climate change. More specifically, Siti mentioned mangrove forests as important in overcoming climate change. Moreover, mangroves in island areas usually start from the coast, spreading to the mainland.

October 11, 2023, detikNews
(https://news.detik.com/berita/d-6976004/buka-ktt-ais-forum-di-bali-jokowi-ajak-kolaborasi-atasi-masalah-kelautan)
(https://www.detik.com/bali/berita/d-6977379/ktt-ais-forum-2023-sepakati-kerja-sama-inovasi-teknologi-maritim-hingga-mangrove)

Pertamina and Garuda Indonesia successfully conducted the first test flight of a commercial aircraft using environmentally friendly Sustainable Aviation Fuel (SAF). This collaboration is to realize the commitment to contribute to the carbon emission reduction program. The President Director of Garuda Indonesia, Irfaniaputra, said that the trial use of the Bioavtur J2.4 type SAF is part of Garuda Indonesia Group’s ongoing commitment and efforts to support various decarbonization initiatives, one of which is implemented through exploring the use of SAF on Garuda Indonesia’s flight operational lines.
“This is a milestone that we have been waiting for. This is certainly a matter of optimism for our collective steps to realize our big dream of realizing green energy in the national aviation ecosystem to support Indonesia’s commitment to achieving net zero emissions, which is projected to be realized in 2060. ,” said Irfan in a written statement, Tuesday (10/10/2023).
The first test flight was carried out for one hour on Wednesday (04/10) at hangar 4 of the Garuda Maintenance Facility AeroAsia, Soekarno Hatta International Airport area, Tangerang, Banten. The SAF testing was carried out in ground round and flight test stages on a Boeing 737-800 NG commercial aircraft with registration number PK-GFX belonging to Garuda Indonesia airline.
The PT LAPI ITB Research Team stated that the results were positive, namely that the aircraft’s response was good and controlled. With these results, Pertamina and Garuda Indonesia are ready to continue the BUMN synergy to the next stage, namely the plan to use SAF in Garuda Indonesia commercial flights.
“This is the first step which will hopefully become a sustainable mission for the aviation ecosystem to move more adaptively in making a contribution to environmental sustainability, by implementing SAF on Indonesian commercial flights,” said Irfan.
Pertamina President Director Nicke Widyawati said that Pertamina as an energy company continues to strive to develop green fuel, one of which is by producing SAF for the Indonesian aviation industry. SAF is produced at the Green Refinery facility of PT Kilang Pertamina Internasional, namely the Cilacap Refinery using the ester and fatty acid (HEFA) co-processing method. SAF has many advantages, including lower emissions compared to fossil fuel.
“Pertamina’s success in producing SAF is the first in the Southeast Asia region. It is hoped that SAF can soon be marketed by commercial flights as a major milestone in the development of green energy in Indonesia and contributing to the decarbonization program,” he continued.
Pertamina, as a leading company in the energy transition sector, is committed to supporting the 2060 Net Zero Emission target by continuing to encourage programs that have a direct impact on the achievement of Sustainable Development Goals (SDG’s). All of these efforts are in line with the implementation of Environmental, Social & Governance (ESG) in all Pertamina business lines and operations.

October 10, 2023, detikFinance
(https://finance.detik.com/energi/d-6974566/keren-pertamina–garuda-berhasil-uji-terbang-dengan-bioavtur)

The Jakarta-Bandung High-Speed Train was officially opened today by President Joko Widodo (Jokowi). After seven years of construction, finally, the High-Speed Train, a collaboration between Indonesia and China, was officially opened. Jokowi said the Jakarta Bandung high-speed train was the first high-speed train in Southeast Asia. Has a speed of up to 350 kilometers per hour.
“The Jakarta Bandung Fast Train is the first in Indonesia and the first in Southeast Asia, with a speed of 350 km per hour,” said Jokowi when inaugurating the Jakarta-Bandung Fast Train at Halim Station, East Jakarta, Monday (2/10/2023).
Jokowi also revealed that the Jakarta-Bandung high-speed train was called Whoosh because it was inspired by the sound of a fast train traveling at high speed.
“This fast train is called Whoosh, W H O O S H, this is inspired by the sound of a train traveling at high speed. Jokowi said Whoosh is also an abbreviation. The abbreviation is ‘Waktu Hemat Operasi Optimal Sistem Hebat’ / ’Great System Optimal Operation Saving Time’.” said Jokowi.
The Jakarta-Bandung Fast Train itself was built in 2016. It has a track length of up to 142 kilometers connecting Halim Station, Karawang Station, Padalarang Station, and Tegalluar Station. With an average speed of 350 kilometers per hour, the fast train only takes 30-45 minutes to connect Jakarta and Bandung. The construction of the high-speed train costs up to US$ 7.2 billion or around Rp. 18.58 trillion (exchange rate Rp. 15,490). This amount includes cost overruns for high-speed trains after the COVID-19 pandemic. Previously, since mid-September, this fast mode of transportation could be tried out by the public as a free trial.
PT Kereta Cepat Indonesia-China (KCIC) has officially set the ticket price for the Jakarta-Bandung Fast Train or Whoosh at IDR 300 thousand. This rate is still a promotional rate. PT KCIC Corporate Secretary Eva Chairunisa said that the public can now order tickets from October 18 onwards. These rates apply to all routes and are free Feeder Trains to and from Bandung Station.
“This promotion is given to introduce the Whoosh Fast Train service to the public so that people are interested and use Whoosh for their transportation needs,” said Eva, in a written statement, on Saturday (14/10/2023). For the public who are interested in ordering Whoosh Fast Train tickets, ordering can be done in a number of ways, including:

1. Website ticket.kcic.co.id
2. Ticket Vending Machine at the Station
3. Counter

October 2, 2023, detikFinance
(https://finance.detik.com/infrastruktur/d-6960171/7-tahun-dibangun-kereta-cepat-pertama-di-asia-tenggara-akhirnya-diresmikan-jokowi)
(https://finance.detik.com/infrastruktur/d-6960203/jokowi-buka-bukaan-alasan-kereta-cepat-dinamakan-whoosh)
(https://finance.detik.com/infrastruktur/d-6982898/tiket-kereta-cepat-rp-300-ribu-cek-cara-pesan-hingga-jadwalnya)

Indonesia exports refrigerators to Cambodia through PT Panasonic Manufacturing Indonesia (PMI). This is related to the import substitution program and activities to increase exports of domestic products.
“I convey my highest appreciation to all ranks of Panasonic Manufacturing Indonesia for their support for the government’s efforts to encourage export activities of the electronics industry,” said Industry Minister Agus Gumiwang in a statement, Monday (26/9/2022).
According to Agus, this effort is a clear proof that the synergy between the government and industry players is going well. “The receipt of this Panasonic refrigerator product proves that the quality of electronic products made by Indonesian children has been recognized by the international market,” he added.
Refrigerator is one product that has a high export value in Indonesia. In 2021, the refrigerator export value will be US$ 374.4 million or Rp5.65 trillion (exchange rate of Rp15,014) of which 40% comes from the contribution of PT PMI which has exported refrigerators to Asian and Middle East markets.
Cambodia is the 8th country for PT PMI in terms of refrigerator export destinations besides Japan, Hong Kong, Malaysia, Myanmar, UAE, Kuwait and Oman. Apart from refrigerators, PT PMI has also exported other electronic products such as audio products, water pumps and washing machines.

September26, 2022, detikFinance
(https://finance.detik.com/industri/d-6312873/ri-ekspor-kulkas-ke-kamboja-hingga-jepang-rp-5-t)

The cooperation between Indonesia and South Korea resulted in a business agreement worth US$7 million or equivalent to Rp105 billion (exchange rate of Rp15.000). Through this agreement, Indonesia will export several food products to the Ginseng Country. Including sweet potato and cassava chips. The signing of the MoU by the two countries was carried out in Nusa Dua, Badung, Bali, Friday (23/9/2022). Witnessed directly by the Minister of Trade Zulkifli Hasan.
“I welcome the signing of the three MoUs that result in a potential transaction of US$ 7 million. Products that South Korea is interested in are cognac, as well as cassava chips and frozen processed sweet potatoes which are Indonesia’s flagship products,” said Zulkifli Hasan in a written statement, Saturday ( 24/9/2022).
The signing was carried out by three Indonesian business actors and two South Korean business actors. PT Satoria Konjac Industri with With Us Co., LTD signed an MoU for the purchase of cognac products with a potential transaction value of US$ 2 million, PT Indorasa Utama with With Us Co., LTD for cassava chips products with a potential transaction value of US$ 2 million, and PT Seed Origin International and Wellygo Inc for processed sweet potato products (frozen dried sweet potato stick/frozen sweet potato paste) with a potential transaction value of US$ 3 million.
For additional information, the trade value between Indonesia and South Korea for the January-July 2022 period is US$ 14.03 billion. In that period, Indonesia’s exports to South Korea amounted to US$ 7.27 billion and imports US$ 6.77 billion.
Meanwhile, in 2021, the total trade value between the two countries will be US$ 18.41 billion. The value of Indonesia’s exports to South Korea reached US$ 8.9 billion and imports US$ 9.4 billion. South Korea is the 7th home country of foreign direct investment (FDI) for Indonesia. Its investment in 2021 is US$ 1.64 billion with 2,511 projects.

September24, 2022, detikFinance
(https://www.detik.com/bali/bisnis/d-6309728/deal-di-bali-korsel-siap-borong-ubi-keripik-singkong-ri-rp-105-m)

Electric vehicle (EV) company PT Mitra Motor Group (MMG), a subsidiary of coalminer PT Indika Energy, created a joint venture (JV) with EV component producer Foxteq Singapore on Sept. 22. According to an information disclosure released on Friday, the JV will be called PT Foxconn Indika Motor (FIM), which is licensed to build EVs with four wheels or more, produce batteries and provide management consulting services.
“MMG’s participation in FIM is the company’s step toward expanding its business activities into the electric vehicle sector, especially four-wheeled electric vehicles, in Indonesia,” Indika Energy corporate secretary Adi Pramono said in the disclosure.
Focusing on manufacturing commercial electric cars and batteries, the JV was followed by an investment of Rp39 billion (US$2.5 million) from MMG, equivalent to 60 percent of the paid-up capital. An affiliation of Hon Hai Technology Group, known as Foxconn, Foxteq Singapore paid in capital of Rp 29 billion, the equivalent of 40 percent of the paid-up capital.
Indika Energy director and group chief investment officer Purbaja Pantja said that the company saw huge potential in EV development in Indonesia. “This collaboration will create a comprehensive electric vehicle ecosystem that aims to support Indonesia in becoming one of the leading electric vehicle and battery ecosystem developers,” Purbaja said.
Foxconn battery strategy head Troy Wu said that this JV showed the firm’s commitment to developing a sustained EV ecosystem in the country. “Indonesia is the largest economy in Southeast Asia and holds the current G20 presidency and the next ASEAN chairmanship, and has committed to an ambitious net-zero emission target,” Wu added.
Previously, another Indika Energy EV manufacturing arm PT Ilectra Motor Group (IMG) launched the indigenous fully electric Alva One Motorcycle, which will be manufactured in a factory in Cikarang, West Java. In order to develop the two-wheeler brand and its supporting ecosystem, IMG raised a total of US$7.5 million in May from Alpha JWC Ventures, Horizon Ventures, equal to 21.4 percent of the company’s shares, while Indika Energy added another $7.5 million.

September23, 2022, The Jakarta Post
(https://www.thejakartapost.com/business/2022/09/23/indika-foxconn-sign-jv-agreement-on-ev-factory.html?)