VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The government has decided to provide salt farmers with government-subsidized bank loans for small and medium enterprises known as KUR credit scheme to encourage the people`s salt and self-sufficiency programs.

"The government needs to facilitate funding and financing for the salt production program through the KUR scheme," Deputy of Macroeconomics and Finance at the Coordinating Ministry of Economic Affairs Iskandar Simorangkir stated in Jakarta on Wednesday.

Simorangkir explained that the granting of KUR credits aims to assist the financing of salt farmers whose endeavor is categorized as a small business and not as a salt extraction in the mining sector.

"The government is striving to provide KUR credit for salt farmers," he said.

Earlier, the salt commodity sector, based on the classification of the commercial bank`s business field, was included as one of the sectors in the mining businesses. According to Regulation of the Coordinating Minister for Economic Affairs No. 11 of 2017 on KUR`s implementation guidelines, the mining sector is not included in the sectors that could receive KUR credits. Since 2015, the distribution of KUR to salt farmers has reached Rp1.1 billion, but interest subsidies have not been paid since this sector is not included in the KUR financing program sectors.

The overall distribution of KUR loans for salt commodities recorded a five percent NPL ratio. Hence, special supervision is needed on credit financing for this commodity. On this occasion, the government also decided to allocate KUR credits for 13 business activities in the tourism sector to encourage the entry of foreign exchange into Indonesia. For the addition of this KUR allocation, Simorangkir noted that the government had increased KUR allocation for 2018 from Rp117 trillion to Rp123.53 trillion.

The addition of KUR in 2018 is decided based on considerations as recommended by the Financial Services Authority. The Financing Policy Committee for ultra-, micro-, and medium-scale businesses hopes that it would help UMKM access financing with affordable interest rates.

Until July 2018, the realization of KUR`s distribution has reached Rp79.2 trillion, or 67.6 percent of the Rp117 trillion target. This KUR distribution includes 3,209,569 debtors with non-performing loans at only 0.01 percent. ( ant )

Indonesia and Myanmar have explored trade and investment potential in both countries to optimize bilateral economic cooperation, Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Rosan P. Roeslani said.

"Business matching would need to be continued between Indonesian and Myanmar`s investors. We have huge potential for cooperation," Roeslani said in Jakarta on Wednesday.

Kadin held a business meeting with Myanmar on the sidelines of the visit of its Minister for Union Government, U Thaung Tun, to Indonesia. Myanmar was the 42nd largest trade partner of Indonesia in 2017, with total trade value reaching US$975 million, increasing from $729 million in 2016. Indonesia`s export to Myanmar has increased from $615 million in 2016 to $829 million in 2017, while its import increased from $113 million in 2016 to $142 million in 2017. Indonesia has enjoyed a trade surplus with Myanmar, with its main export of palm oil, paper, fuel oil, and coal.

Roeslani remarked that the bilateral trade has faced some challenges, such as the absence of export product complementarity; lack of direct transportation, which has affected supply continuity; and complicated licensing system for export and import. On the other hand, the two countries have a large potential for trade, with negotiable price, quality, and payment methods for some agriculture commodity products.

According to Roeslani, Myanmar should give Indonesian businessmen the opportunity to expand their market to the country, as both are ASEAN members. Indonesia and Myanmar have recorded a relatively small amount of investment. Myanmar?s investment in 2017 was only recorded at $600 thousand in three projects, while Indonesia`s investment during the period had reached some $200 million. ( ant )

The Indonesian Foreign Ministry's Director General of American and European Affairs Muhammad Anshor, Monday in Jakarta, said that the Indonesian government was committed to continuing to enhance bilateral cooperation with Venezuela. Speaking while attending the celebration of the Republic of Venezuela's National Day, Muhammad Anshor said the two countries should continue to make efforts so that an increase in bilateral cooperation can be achieved. Muhammad Anshor said that the cooperative relationship between Indonesia and Venezuela is a mutually beneficial mutual relationship. He believes Venezuela also has the same commitment as Indonesia to work together to improve bilateral relations between the two countries.

"Furthermore the bilateral relation between the two countries, Indonesia reiterate its commitment to enhancing the bilateral cooperation in various fields. In this connection, the two countries should make every endeavor to achieve it. I believe that the commitments are mutual. Indonesia equally has strong commitment as Venezuela to expanding and deepening cooperation in all field of common interest. Indonesia is ready to work together with Venezuela to strengthen bilateral relation which is of beneficial in nature," Muhammad Anshor said.

Furthermore, Director General of American and European Affairs of the Ministry of Foreign Affairs Muhammad Anshor also expressed his condolences of the Indonesian government for the tragedy that occurred in Venezuela. He also expressed hope of the Indonesian government that peace and stability could be maintained in Venezuela. (VOI/NDY/AHM)

Ambassador of Republic of Venezuela to Indonesia Gladys Francisca Urbaneja Duran is optimistic that the cooperation between Indonesia and Venezuela will continue to increase. It was said by the ambassador at the celebration of Venezuelan National Day, in Jakarta Monday (6/8). Ambassador Gladys said that the bilateral relations between the two countries that lasted for 59 years will be able to increase consolidation and strengthen the cooperative relations between the two countries.

"The diplomatic relation between Venezuela and Indonesia next 9th of October reaches its 59th anniversary. We are confident that this relationship will continue and consolidate the bilateral union and cooperation both. We congratulate this evening for the recent election to the Security Council for the period 2019-2020," Gladys Francisca Urbaneja Duran said.

Furthermore, in her remarks, Venezuelan Ambassador Gladys Francisca Urbaneja Duran conveyed the current conditions in Venezuela after the bombing of President Nicolas Maduro. He said Venezuela is currently facing the challenges of the rebels. According to her, the bombing was an attempt to thwart the ratification of economic regulations that will be launched on August 20. Gladys said the regulation was an effective step in efforts to overcome Venezuela's domestic crisis and would bring stability and prosperity to the Venezuelan people. She also invited the world to fight against terrorism together. (VOI/NDY/AHM)