VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesia requires funds of some Rp6,500 trillion to build infrastructure until 2024, according to the Finance Ministry's Director General of Financing and Risk Management Luky Alfirman.

The State Revenue and Expenditure Budget (APBN) could only meet 42 percent of the total funding, while the rest would come from State-Owned Enterprises (BUMN) and the private sector, Alfirman noted here on Friday.

"Therefore, financing is one way to reduce these costs. How we can design financing in such a way," Alfirman stated during the 23rd T20 Edition of the Infrastructure Roundtable (IIR) Seminar on Friday.

Initiated by G20 in 2012, the Think20 (T20) engagement group is independent from national governments and comprised prestigious think tanks and academia from the international community.

Alfirman said that the current government continues to invite financing from the private sector. This is in line with the discussion during Indonesia's G20 Presidency, specifically increasing private sector participation, as the government cannot bear all development costs alone.

Investing in infrastructure is a long-term endeavor, for which there must be certainty in the projects being invested.

Hence, the Finance Ministry continues to provide certainty by managing existing risks, so that investors, especially domestic ones, are interested in investing their capital in an infrastructure project.

"We design this risk in such a way to minimize it because it is associated with the price we have to pay later," he remarked.

Prospective investors usually tend to look at the political conditions and Indonesia's economic prospects before deciding to invest in an infrastructure project in the country, he added.

Thus, he said, the stability of political conditions and improvement of the domestic economy are crucial in order to attract foreign investment.  (Antaranews)

The Indonesian Investment Ministry invites all members of G20 to encourage sustainable investment for global economic recovery and sustainable development realization that can alleviate poverty and reduce inequality.

Deputy for Investment Cooperation at the ministry as well as the Co-chair of 2022 G20 Trade, Investment, and Industry Working Group (TIIWG)  Riyatno  noted in the third session of the second meeting of the working group held here on Thursday that a large global investment disparity currently existed, especially in developing countries.

The TIIWG was established in 2016 as part of the G20 working group to discuss major trade and investment issues as well as to coordinate efforts by G20 nations to strengthen global trade and investment.

"Not only to close the gap, but we also need to encourage more sustainable investment, especially in the renewable energy sector to realize environmental protection," the deputy remarked, as quoted from a statement here on Friday.

He emphasized that encouraging sustainable investment was important to create more jobs, increase productivity, and benefit the local economy.

Hence, G20 members are expected to collaborate to lead global attempts in promoting sustainable investment and renewable energy by implementing the policies that can support a sustainable, resilient, and inclusive global economic recovery.

"As stated by the Investment Minister (Bahlil Lahadalia) at the previous (TIIWG) meeting, there should be an agreement on policy instruments, best practices, and lessons learned (concerning the sustainable investment issue),” Riyatno affirmed.

He noted that several initiatives that could be collaborated according to the United Nations Conference on Trade and Development (UNCTAD) include outward investment promotion schemes, the dissemination of renewable energy technology, carbon market cooperation, investment facilitation instruments, as well as technical assistance.

On the same occasion, Director General of International Trade Negotiations at the ministry as well as the Chair of TIIWG G20, Djatmiko Bris Witjaksono, stated that during the meeting, the representatives of G20 members as well as the invited guests were given the opportunity to convey their suggestions regarding the investment issue.

As a follow-up to the meeting, Indonesia, as the chair of the 2022 G20 Presidency, in collaboration with UNCTAD, will hand questionnaires to all G20 members to get as many suggestions as possible that can be considered by Indonesia to realize sustainable investment.  (Antaranews)

Proper food waste management can solve the community's economic problems amid soaring prices of food ingredients and spices recently, Tourism and Creative Economy Minister Sandiaga Uno stated.

"It is very ironic that (currently), the price of chili and food ingredients is expensive, but we are wasting it. Hence, there must be a change in behavior," he remarked while attending a Focus Group Discussion (FGD) on Food Waste Management in the Tourism Industry in Bali, as quoted from a statement here on Friday.

In addition to Saudi Arabia and the United States, Indonesia is one of the largest food waste producers, according to the report of the Economist Intelligence Unit.

The finding aligns with a study conducted by the National Development Planning (PPN) Ministry along with several institutions concerning the Food Loss and Waste (FLW) in Indonesia in 2021.

The study recorded that food waste produced by Indonesia during the 2000-2019 period had reached about 23-48 million tons per year.

“The huge amount of wasted food certainly impacts several sectors, such as the economy, social, and environment," the minister stated.

He noted that due to the food waste, Indonesia had experienced economic losses to the tune of at least Rp213 trillion (US$14.14 billion) to Rp551 trillion (US$36.58 billion) annually or equivalent to four to five percent of the country’s gross domestic product (GDP).

Hence, the FGD is expected to provide solutions and encourage concrete attempts to handle the food waste in the tourism industry to realize sustainable tourism.

The Tourism and Creative Economy Ministry is committed to actively participating in addressing various environmental and climate change issues, for instance, by conducting the FGD on food waste.

Furthermore, as the chair of the 2022 G20 presidency, Indonesia aims to be a model in tackling climate change and conducting environmental management through various concrete and sustainable actions.

"We give our all to implement sustainable tourism," Uno stated.

He also expected all stakeholders in the tourism industry -- including the hotel, restaurant and café owners and managers, as well as the government, academics, media, and non-governmental organizations (NGOs) -- will assist in handling food waste in Indonesia. (Antaranews)

G20 delegates attending the second meeting of the Anti-Corruption Working Group (ACWG) have agreed on the final draft of a policy document containing the principles for strengthening the role of audits in eradicating corruption.


Obtaining this agreement is a success for the Indonesian delegation, which is leading the 2nd ACWG from July 5–8, 2022, chair of the 2nd ACWG Round, Mochamad Hadiyana, said during a press conference in Badung, Bali, on Thursday.


He was accompanied by Rolliansyah Soemirat, director of ASEAN political and security cooperation at the Ministry of Foreign Affairs, who co-chaired this year's ACWG meeting.


"For the good cooperation between the Corruption Eradication Commission (KPK) and the Ministry of Foreign Affairs, Indonesia has succeeded in obtaining an outcome document (policy document, ed.) in the form of a high-level principle regarding strengthening the role of audit in eradicating corruption," Hadiyana informed.


He said that the agreement showed the G20 countries recognize the important role of audit institutions and auditors in preventing and eradicating corruption.


"This is a success for Indonesia, not only the KPK, but Indonesia's success, because in it (the ACWG forum), we also involved other agencies in proposing priority issues, including cooperation from the Ministry of Foreign Affairs," Hadiyana, who serves as deputy for information and data at the Corruption Eradication Commission (KPK), added.


At the press conference, Soemirat, who led the ACWG forum with Hadiyana, emphasized that the agreement on the high-level principles by the G20 delegates was an important achievement because it was the highest document produced by the G20 working group.


"These are the agreed principles that will serve as a guideline for all G20 countries and (policy documents, ed.) will be agreed at the leaders' level," he said.


He stressed that the document will not only serve as a guide for G20 countries, but will be a reference for the preparation of similar documents at other international forums.


He said that the agreed draft document consists of 54 paragraphs that summarize six main principles.


“The first principle is that there is an agreement to support the role of audit bodies in preventing and tackling corruption. Second, the agreement strengthens the role and capacity of supreme audit institutions, and the internal audit sector, the public sector, to identify, prevent, and tackle corruption based on their respective mandates," he said.


Third, G20 member countries have agreed to develop a strong national cooperation framework to promote follow-ups on various findings.


Fourth, the countries have agreed to strengthen cooperation between various major audit institutions (supreme audit institutions) as well as internal audit bodies at public institutions.


Fifth, they have agreed to support the use of information and communication technology (ICT) to strengthen the role of audit in eradicating corruption.


Sixth, the G20 countries have agreed that private auditors have a more active role in identifying and reporting corruption.


Soemirat said that the process of reaching an agreement has been ongoing since the 1st ACWG in Jakarta in March 2022, and it has been successfully completed at the 2nd ACWG.


​​​​​​​ACWG is an anti-corruption working group that is part of the G20 Sherpa Track. The working group is an important part of the series of G20 summits because it is believed that corruption is still a challenge that is hindering economic growth and the achievement of the sustainable development goals (SDGs).


​​​​​​​G20 is an international forum comprising 19 countries and the European Union that work together to handle major issues. Indonesia is holding the presidency of the grouping this year. (Antaranews)