22
August

The rupiah recorded a slight rise in the Jakarta interbank market on Thursday morning as the market awaits the result of the meeting of Bank Indonesia’s (BI’s) board of governors later in the day.

The Indonesian currency climbed two points, or 0.01 percent, to Rp14,238 per US dollar as compared to Rp14,240 per US dollar earlier.

"The rupiah remains stable, as the market awaits the outcome of the monthly meeting of Bank Indonesia (BI) on Thursday to decide its benchmark interest rate," Garuda Berjangka President Director Ibrahim Assuaibi had stated in Jakarta on Thursday.

Assuaibi has forecast that the central bank will keep the benchmark interest rate unchanged at 5.75 percent during the meeting.

"Looking at the current situation, BI is expected to exercise caution and refrain from lowering the interest rate while simultaneously steadily monitoring the global condition due to the trade war that is likely to continue until 2020," he stated.

During Thursday's trading, the rupiah is expected to increase slightly to lie within the range of Rp14,200 to Rp14,300 per US dollar.

In the meantime, Monex Investindo Future chief researcher Ariston Tjendra noted that the sentiment towards the trade war will continue to cast a pall over the rupiah movement following the statement of US President Donald Trump to pressure China even at the cost of harming the US economy.

"Trump stated that the Chinese government has cheated the US economy for decades," he pointed out. (ANTARA)

22
August

Indonesian state-owned construction company PT Wijaya Karya (WIKA) has entered into a framework agreement with the Senegalese government to construct La Tour De Goree Tower valued at US$250 million in Dakar, Senegal.

PT WIKA, Indonesia Eximbank, and the Senegalese government signed the agreement on the sidelines of the Indonesia-Africa Infrastructure Dialog (IAID) held in Nusa Dua, Bali, on Tuesday.

"This is a large project that will become an icon in Senegal. The building will also symbolize relations between Senegal and Indonesia," PT WIKA President Director Tumiyana remarked after the signing of the agreement.

La Tour De Goree Tower will be designed to serve a multifunctional building, including an apartment and hotel to support the tourism sector in Senegal.

The hotel at La Tour De Goree is deemed the need of the hour by Senegal that will host the Summer Youth Olympics in 2022.

Senegalese Minister of Growth Affairs Cheikh Kante affirmed that the project, once realized, will double the number of tourist arrivals from the United States, particularly Miami, to Goree Island in Senegal.

The island holds a significant place in the history of the United States and Senegal since in the past, many sleeves sold and employed in the United States came from Goree.

"Goree is a universal tourist site that contributes to the global culture," Kante stated.

The Senegalese government has targeted the groundbreaking ceremony for the construction of La Tour De Goree Tower in early December this year to be attended by Indonesian President Joko Widodo (Jokowi).

During the IAID, PT WIKA also signed an agreement for the construction of a housing project worth US$200 million in Songon, Ivory Coast, and a bulk liquid terminal worth $190 million in Zanzibar, Tanzania. (ANTARA)

22
August

Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan echoed Indonesia’s readiness to share its experiences with African nations, several of which have welcomed Indonesian investors.

"I can sense that African countries are waiting for us to open ties, and yesterday, the president said that we are brothers," Pandjaitan noted in a statement in Jakarta on Thursday.

Indonesia had organized the Indonesia-Africa Infrastructure Dialog (IAID) 2019 in Nusa Dua, Bali, on Aug 20-21, as a follow-up of the Indonesia-Africa Forum (IAF) 2018, which were part of the implementation of the recommendations of the Asia-Africa Conference (AAC) held for the first time in Bandung, Indonesia, in 1955.

He noted that Indonesian investors will offer added value to host nations disparate to Indonesia’s bitter experiences for tens of years during which other investors would merely take hold of their natural resources and leave.

In the past, investors only came to Indonesia to seize the country's raw materials and export them back, but in the era of President Joko Widodo, investors must offer added value and not just exploit the country's natural resources, Pandjaitan emphasized.

Trade Minister Enggartiasto Lukita had earlier pointed to Indonesia attempting to open access for its products to specifically enter non-traditional markets in Africa.

The trade minister held separate meetings with four ministers from Africa on the sidelines of the IAID 2019.

The African ministers are the Industry, Trade, and Investment Minister Amina Saloum Ali of Zanzibar, Trade Minister Hassan Houmed of Djibouti; Public Works, Reconstruction and Housing Minister Abdi Adam Hoosow of Somali; and Second Deputy Prime Minister concurrently Minister for East African Communities AM Kirunda Kivejinja of Uganda.

Themed "Connecting for Prosperity," 700 people from 53 countries participated in the 2019 IAID.

President Jokowi, while addressing the IAID participants, affirmed that Indonesia and Africa can become major powers through joint concrete cooperation to boost the people’s welfare.

"Indonesia is ready and pleased to forge cooperation with our brothers in Africa. Indonesia is your true partner, your trusted friend," Jokowi stated in Nusa Dua, Bali, on Tuesday afternoon.

He affirmed that Indonesians and Africans are brothers, the bonds of which were particularly developed through struggles against colonialism that led to the organization of the Asia-Africa Conference (AAC) initiated by Indonesia's first President Soekarno, among others, 64 years ago. (ANTARA)

21
August

Indonesian Export Financing Institution-Indonesia Eximbank signed a Memorandum of Understanding (MoU) with Development Bank of the Central Africa States (BDEAC), in a series of events of Indonesia Africa Infrastructure Dialog di Nusa Dua, Bali, on Tuesday (20/08). Executive Director of Eximbank, Sinthya Roesly, after signing the MoU, explained that Eximbank and Development Bank of the Central Africa States have agreed to study together more detail projects in six countries, namely Cameroon, Congo, Gabon, Chad, Equator Guinea, Central Africa, which have potential to be financed together. According to Sinthya Roesly,  Development Bank of the Central Africa States will assist Eximbank to study the projects which financing can be cooperated with Eximbank. 

 

“In the cooperation, we agree, first is to see or to study potential projects to be worked together, because BDEAC has priority list for the projects which according to them, it is visible and badly needed by the country for investment, infrastructure, oil and gas and many others including trade among the countries. So, we will scrutinize one by one the projects which according to them, are ready, and we will see whether Indonesian Export Financing Institution-Indonesia Eximbank (LPEI) will take part as co-financing to finance those projects or we participate in the trade,” said Sintya Roesly.

According to Sintya Roesly, many sectors that can be cooperated between Eximbank and Development Bank of the Central Africa States (BDEAC) include service or product sector, final product or factory. Sintya also explained the agreement can encourage Indonesian exporters to enter market in six countries and to facilitate Indonesian exporters.// (VOI/BORGIAS/trans-yati/EDT/AHM)

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