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PLN Gradually Recovers Electricity Supply (0)
State-owned electricity firm PT PLN has recovered electric power to Balaraja Extra High Voltage substation in Banten Province, and furthermore it will be channeled to Suralaya steam-fueled power plant (PLTU) to gradually recover its operation to reach its capacity of 2800 MW of electricity.
In addition, power supply from Gandul Extra High Voltage substations in Depok, West Java Province, will be channeled to Muara Karang gas and steam power plant (PLTGU) to supply electricity to the Indonesian capital city, Jakarta.
Acting President Director of PLN Sripeni Inten Cahyani said here on Sunday that the power supply to Jakarta was expected to recover within three hours.
"We apologize for the inconvenience today, and currently all efforts have been made to recover the Java-Bali power system, especially in the area of West Java, Banten, and Jakarta," Cahyani said.
The company has focused on power supply to PLTGU Muara Karang and PLTGU Priok to recover the system in the capital city.
Previously, PLN has recovered the operation of hydro-generated power plant (PLTA) Saguling and PLTA Cirata which are functioned as power stabilizer, and, at the same time, supply the electricity to PLTU Suralaya through Cibinong, Depok, Gandul, Lengkok, Balaraja and Suralaya extra high voltage substations.
PLTU Suralaya is expected to return to its normal operation within six hours to normalize power system in West Java and Banten.
Blackout that affected thousands of homes and public facilities in West Java, Jakarta, and Banten was caused by several troubles in the extra high voltage 500 kV transmission of Ungaran - Pemalang.
"PLN has taken its best efforts and will have evaluation to prevent recurrence of today's incident," Cahyani said.
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November
Raising competitiveness can boost Indonesia's role in RCEP: official
Written by Nur YasminIndonesia could play a prominent role in negotiations in the Regional Comprehensive Economic Partnership (RCEP) if the country improves its competitive edge, a Trade Ministry official has said.
"I believe if Indonesia can create a stable democracy, a productive labor force, and master the technology to handle jobs with high technology in such a way that it can supply (workers) to technology companies that will invest in Indonesia, the country will play a prominent role in RCEP and global trade," director general of international trade negotiations at the Trade Ministry, Iman Pambagyo, said at a seminar on the RCEP agreement here on Tuesday.
As the world's second largest economy, China will not dominate RCEP because in the context of the present global trade, several companies or countries will not excessively depend on one country alone, he observed.
This will likely occur if countries learn from the US-China trade war that has had a significant impact on trade and business in many countries, he said.
"Countries will see how important they are to leave their excessive dependence on one country. Looking ahead, I see the trend will be getting stronger," he remarked.
RCEP is a comprehensive free-trade partnership between 10 ASEAN member states and five partner countries — China, South Korea, Australia, Japan, and New Zealand.
ASEAN (the Association of Southeast Asian Nations) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
RCEP member states account for almost a third of the global population and 20 percent of the world's gross domestic product. (Antaranews)
November
Indonesia To Lead UNIDO Industrial Development Council
Written by Nur YasminIndonesia was elected as president at the 48th session of the Industrial Development Board (IDB) at the United Nations Industrial Development Organization (UNIDO) which took place by consensus in Vienna, Monday (23/11).
Ambassador / Permanent Representative of the Republic of Indonesia to the United Nations in Vienna Dr. Darmansjah Djumala chaired the 48th IDB session which took place from 23 to 25 November 2020.
Ambassador Djumala will also chair various IDB meetings outside of the session from 26 November 2020 to July 2021.
Ambassador Djumala said Indonesia's diplomacy priority at UNIDO is to encourage technical cooperation in Industry 4.0, especially to increase the capacity of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia.
The Indonesian government has formulated Making Indonesia 4.0 as a road map to develop industry in the era of the fourth industrial revolution.
In this connection, cooperation with UNIDO is very relevant because the organization has the capacity in the field of Industry 4.0.
"We want to optimize Indonesia's membership in UNIDO to provide tangible benefits for the Indonesian people. This is what I call grounded diplomacy,” said Ambassador Djumala.
It is said that UNIDO has the capacity in Industry 4.0 which is in line with the Indonesian Government's program.
IDB is one of the three main organs under UNIDO which discusses the strategic aspects of the organization and is implemented annually. The other main organ is the General Conference which is held every two years and the Program and Budget Committee (PBC) takes place every year.
In recent years, Indonesia has been increasingly active in various UN agencies in Vienna. At UNIDO, Indonesia was selected as a member of the IDB for the 2019-2023 period and a member of the PBC for the 2019-2021 period.
At the International Atomic Energy Agency (IAEA) Indonesia has been Chairman of the Board of Governors for the 2017-2018 period and Deputy Chair of the 64th General Assembly in 2020. Indonesia was also re-elected as IAEA external auditor for the period 2020-2021.
The activeness of this international organization shows the increasingly recognition of the role and progress of Indonesia's leadership in the international world, said Ambassador Dr. Darmansjah Djumala. (Antaranews)
November
Indonesia Becomes Focus In World Economic Forum Dialogue
Written by Nur YasminIndonesia is one of the four countries selected as the focus of discussion at the World Economic Forum (WEF), which will bring together the Indonesian government with global leaders, CEOs, and business players.
The WEF meeting entitled Country Strategic Dialogue on Indonesia will take place virtually on Wednesday (25/11) and will be attended by at least 43 leaders of global companies and the Indonesian government, represented by President Joko Widodo and several ministers.
"The choice of Indonesia as a country strategic dialogue by the WEF is considered as a country that has a major role in the economy, region and globally and is considered capable of carrying out policies to balance the handling of the pandemic and national economic recovery," Deputy Foreign Minister Mahendra Siregar said in a briefing to the media, Monday.
Besides, said Mahendra, the choice of Indonesia by WEF partners shows the high level of trust, expectation, and curiosity of many parties, especially business actors and leaders about Indonesia's strategies and policies amid the current global conditions in the context of developments in overcoming pandemics and economic recovery, and sustainable development.
In this forum, Indonesia will specifically convey the progress of national economic recovery efforts related to the application of the Omnibus Law or the Job Creation Law.
"This is our commitment to continue the process of economic reform, especially for improving the investment climate and increasing competitiveness," said Mahendra.
A number of priority sectors that will be developed through a special WEF meeting in Indonesia include digital and information technology and telecommunications, pharmaceuticals, health services, infrastructure, mineral processing, and renewable energy.
Meanwhile, in the health context, the government will convey the development of the situation related to COVID-19 in Indonesia, which includes the percentage of national recovery reaching 84.1 percent or above the global average recovery according to the World Health Organization (WHO), which is in the range of 64.3 percent.
Then, the death rate due to COVID-19 in the country also dropped sharply from 8.6 percent to 3.2 percent.
"We convey that this good trend will continue to be implemented, as well as provide opportunities for us to increase steps for national economic recovery," said Mahendra.
"Of course by looking at the progress of vaccine development that is happening in the world in general and its relation to the access that has been and continues to be built by Indonesia, we hope that the economic recovery conditions will be more stable and strong in the years to come," said Mahendra, who has served as deputy finance minister of the Republic of Indonesia in 2011-2013. (Antaranews)
November
Indonesia, Sweden pledge cooperation on green, sustainable economy
Written by Nur YasminIndonesia and Sweden on Monday asserted their commitment to manage public and business cooperation to help realize a greener and more sustainable economy.
In her opening remarks at the start of the Sweden-Indonesia Sustainability Partnership (SISP) Week, which is being held online this year, Indonesian Foreign Affairs Minister Retno Marsudi said that Sweden is an important European partner for the archipelagic nation, adding it is important for both countries to "recover together and stronger" from the COVID-19 crisis.
"I am confident our partnership can bring added value to our respective economic recovery; one such area is building a greener and more sustainable economy," Marsudi noted.
The foreign affairs minister also highlighted President Joko Widodo's message to leaders of the Group of 20 economies (G20) on Sunday night (November 22, 2020) to use the pandemic as a reason for pushing forward green economy goals.
"We have much to learn from Sweden in this regard. Sweden has shown that it is possible to combine economic growth with environmental protections. Sweden is also widely recognized as one of the leaders of environmental innovations and technologies," Marsudi observed.
At the same event, Swedish Prime Minister Stefan Lofven also delivered a message on the economic recovery of Sweden and Indonesia, which have been impacted by the unprecedented outbreak, through a bilateral cooperation framework, as this year marks the 70th anniversary of bilateral relations between the two countries.
"The crisis reminds us of the importance of working together, in international solidarity across borders, to find ways to jointly address our most pressing global challenges: the pandemic, the climate crisis, economic recovery, and widening inequalities," Lofven stated.
He also reiterated that "coming back from the crisis, we must, and we will build back stronger, greener and more inclusive societies; we must deliver on the 2030 agenda and the principle of leaving no one behind”.
The diplomatic ties between Indonesia and Sweden date back to 1950. Swedish King Carl XVI Gustaf and Queen Silvia's official visit to Jakarta in 2017 at President Widodo's invitation also resulted in several collaborations.
"This week presents us with an excellent opportunity to build on that momentum and form new partnerships for the future," Prime Minister Lofven noted. (Antaranews)
November
Jokowi says world needs major post-pandemic transformation at the G20 Summit
Written by Nur YasminPresident Joko Widodo said in the G20 Summit forum that the world needed a major transformation after the COVID-19 epidemic at the second session of the G20 Summit from the Bogor Presidential Palace, West Java, Sunday.
President Jokowi said the COVID-19 pandemic had provided valuable lessons for all countries in the world.
"This can be realized if there is a big vision, big action, and big change. Big vision, big action, and big transformation", said President Jokowi.
So now is also the time for all countries to introspect, not only to recover from the health and economic crisis but to rise and grow stronger.
President Joko Widodo emphasized that recovery from the pandemic can only be realized if there are vision, action, and major changes.
In the session of the G20 Summit, the theme was "Building an Inclusive, Sustainable and Resilient Future".
In line with the theme of the meeting, President Jokowi said that post-pandemic Indonesia wants to build a more inclusive, sustainable, and resilient economy. For this reason, fundamental improvements are absolutely necessary.
"Indonesia also wants to carry out a major transformation. It becomes Indonesia's commitment to a greener and more sustainable economy. The progress of economic recovery must no longer ignore the protection of the environment," he explained.
According to the President, now is the momentum to promote a green economy. The World Economic Forum states that the potential for a green economy is enormous, where there are business opportunities of US $ 10.1 trillion and 395 million new jobs until 2030.
In Indonesia, various breakthroughs have been made, including utilizing biodiesel B-30, testing green diesel D100 from palm oil and absorbing more than 1 million tons of palm oil produced by farmers, and installing hundreds of thousands of Rooftop Solar Power Plants (PLTS) in the household sector.
"This project will create tens of thousands of new jobs while contributing to future energy development," he added.
In addition, the new Job Creation Law passed by the parliament also provides certainty regarding the requirements for environmental permits, environmental impact analysis, and the establishment of an environmental rehabilitation fund.
"This law also provides protection for tropical forests, as a bulwark against climate change. This is Indonesia's commitment," he stressed.
At the end of his speech, the President again emphasized that a stronger joint recovery requires a big vision, action, and transformation. This must be done by the G20 countries to build a more inclusive, sustainable, and resilient world economy. (Antaranews)
November
Foreign Minister: Indonesia will host the G20 Summit in 2022
Written by Nur YasminForeign Minister Retno Marsudi said Indonesia will hold the Presidency (to host) the G20 Summit in 2022.
"Indonesia will hold the G20 Presidency in 2022," said the Foreign Minister in a virtual press conference after accompanying the President to attend the second day of the G20 summit, via a video conference from the Bogor Presidential Palace, West Java, Sunday night.
Foreign Minister Retno said that originally the Indonesian Presidency for the G20 Summit was in 2023. Meanwhile, India will hold the Presidency of the G20 Summit in 2022.
However, considering that in 2023 Indonesia will also hold the chairmanship of ASEAN, Indonesia will discuss the chairmanship of the G20 with India.
"Incidentally, India also has a proposal to hold the G20 Presidency in 2023," she said.
Thus Indonesia exchanged the chairmanship of the G20 Summit with India.
"Thus Indonesia will hold the G20 Presidency in 2022, while India will hold the Presidency in 2023," Retno explained.
He conveyed that by the time of the Indonesian Presidency at the G20 in 2022, then starting in 2021 Indonesia will already be part of the G20 Troika. (Antaranews)
November
G20 leaders watch for potential debt increases due to COVID-19
Written by Nur YasminThe leaders of the G20 countries asked finance ministers and central bank governors to monitor the level of public and private debt, given that many countries are widening their fiscal deficits to implement extraordinary policies in dealing with the COVID-19 pandemic.
Minister of Finance Sri Mulyani Indrawati said this after accompanying Indonesian President Joko Widodo at the G20 Summit (Summit) virtually from the Bogor Presidential Palace, Sunday night.
Besides public and private debt levels, G20 leaders are also focusing attention on potential increases in the cost of funds such as borrowing costs, and crowding out for liquidity as many countries want to increase spending to recover the economy.
"Steps to maintain the sustainability of debt levels at both the public and private levels will be a focus that must be seen during the COVID-19 period and after the COVID-19 period," said Sri Mulyani.
"This is indicated by the decline in economic growth and also in terms of human capital. Therefore, all countries undertake various policy actions which are extraordinary in nature and in this case will certainly increase the fiscal deficit," said Sri Mulyani.
In this difficult time, the commitment of many countries to use their fiscal and monetary instruments to the fullest is needed.
The use of fiscal and monetary instruments is needed by various countries to protect the community, through social safety net policies, and also create many jobs to overcome the impact of layoffs during a pandemic.
"To restore the economy of each country and then to become a global economic recovery, it is also necessary to pay attention to financial system stability because this will be an issue that must be considered in the financing track," she said.
At the G20 meeting, the leaders agreed that economic recovery policies must continue to be supported. Countercyclical policies on fiscal, monetary, and financial system aspects need to be implemented until the economic recovery is stable.
The G20 Summit in 2020 takes place in Riyadh, Saudi Arabia on Nov. 21-22, 2020. President Joko Widodo and his ministers participated virtually.
Also attending to accompany the President, besides the Minister of Finance were Foreign Minister Retno Marsudi, Cabinet Secretary Pramono Anung, Sherpa G-20 Indonesia Rizal Affandi Lukman who also served as Deputy for International Economic Cooperation Coordination of the Coordinating Ministry for Economic Affairs, and Expert Staff to the Minister of Finance in International Macro Economics and Finance, Suminto. (Antaranews)
November
Indonesia to play key role in Asia-Pacific economic integration: ABAC
Written by Nur YasminIndonesia will have an important role to play in the economic integration of the Asia Pacific region and support regional economic recovery through openness to investment and advanced industries, according to APEC business advisors.
"Indonesia, as the largest economy in ASEAN, with high growth potential in the long term, will become the foundation of global economic growth. Indonesia's strategic position and its openness to foreign investment can bridge the trade war between the United States and China," said chairman of the Business Advisory Board (ABAC) of the Asia-Pacific Economic Cooperation (APEC), Anindya Bakrie, at an online press conference in Jakarta on Thursday.
The year 2020, he said, has been crucial for the global economy, with the business world and governments facing the challenge of overcoming the COVID-19 pandemic appropriately, quickly and adaptively, in a bid to build economic and social recovery.
At the APEC Summit currently chaired by Dato Rohana, ABAC has named three main pillars that can support economic recovery in the Asia-Pacific — economic integration, innovation, and inclusion. ABAC listed the pillars during the ABAC IV 2020 virtual meeting.
In line with ABAC's long-term priorities, Anindya Bakrie stressed the importance of Indonesia's role in economic integration in the Asia-Pacific region.
“Currently, Indonesia's supply chain and manufacturing activities are still relatively small. However, as the largest archipelago country in the world, Indonesia has the potential ability to contribute more to the global supply chain, so that the stability of world output can be maintained," he said.
Bakrie explained that Indonesia is optimistic of its capability to achieve solid economic growth along with the improvements of its fundamentals. However, the implementation of regional economic integration policies through the Free Trade Area of the Asia-Pacific (FTAAP) within APEC will accelerate the economic recovery of Indonesia and the Asia-Pacific as a whole.
Indonesia has been listed as one of the countries with the fastest e-commerce adoption amid slowing economic growth, he pointed out. As the leader in Southeast Asia in terms of Internet economy, Indonesia is also the fourth largest market for smartphones in the world today, with a mobile phone user base of 142 million.
Speaking about ABAC’s focus on innovation, Bakrie said the pandemic has opened eyes and made the public aware that digital connectivity is important and must be a priority for the world in the post-pandemic era.
"The potential for digital economic growth in Indonesia is immense and there are many sectors that have the potential to develop, such as education, health, and renewable energy," he remarked.
Meanwhile, member of the Indonesian ABAC, Shinta Kamdani, said aspects of sustainable development goals (SDGs) must be prioritized in digital economic development along with investment as Indonesia works towards economic recovery.
"COVID-19 proves that it is not only the economy that must be recovered, but also environmental and social aspects. Thus, the business world sees that the investment mindset must be changed, not only prioritizing economic benefits, but also being able to provide sustainable long-term value and resilience in terms of social and environmental aspects," Kamdani remarked. (Antaranews)
November
President upbeat economic policies will benefit businesses
Written by Nur YasminPresident Joko Widodo said he is optimistic that the economic policies rolled out by the government amid the pandemic will have a positive impact on and incentivize businesspersons in the country.
Jokowi made the remarks at the virtual APEC CEO Dialogues 2020, which was uploaded on Youtube by the Presidential Secretariat here on Thursday.
“I am sure that entrepreneurs, as well as domestic and international businessmen, will feel the positive effects of the various potentials and incentives from the economic policies issued by Indonesia during the pandemic,” the President said.
Indonesia has been using the COVID-19 pandemic to build momentum for structural reforms, he remarked.
"In an extraordinary way, we have been fixing existing regulations, fixing existing bureaucracy in order to move quickly to pass the difficult times so that we are ready to open the widest possible door for businessmen and investors in new ways," Jokowi said.
The President also said that Indonesia passed the omnibus law on Job Creation to massively simplify regulations under 79 laws by bringing them under a single law.
He then invited CEOs and businessmen in the Asia and Pacific region to take advantage of the opportunities created by the new law, which comprises more than one thousand pages. (Antaranews)
November
Vietnam Embassy in Jakarta Holds Webinar on Trade, Investment and Tourism
Written by Nur YasminThe Embassy of the Socialist Republic of Vietnam in Jakarta and Indonesia–Vietnam Friendship Association hosted a webinar on “Seizing Trade, Investment and Tourism Opportunities in Vietnam and Indonesia amid the COVID-19 pandemic”, Wednesday (18/11).
The webinar aimes to update information on policies of Government of Vietnam and Government of Indonesia in response to the impact of the pandemic for the purpose of economic recovery as well as economic and tourism cooperation promotion on the basis of mutual benefits.
In his opening remarks, Ambassador of Vietnam to Indonesia, Pham Vinh Quang said that last month, the governments of Indonesia and Vietnam made great efforts in curbing the epidemic and ensuring economic development.
He added that the adoption of the ASEAN Comprehensive Recovery Framework at the 37th ASEAN Summit in Hanoi, Vietnam, will revive the economy of the two countries in post-Covid-19 Pandemic.
“Last week in Hanoi, Vietnam, at the 37th ASEAN Summit, Vietnam in this term as 2020 ASEAN Chair together with Indonesia and other ASEAN member states adopted the ASEAN Comprehensive Recovery Framework and its implementation plan designed to assist people and businesses to overcome the impact of the pandemic, restore economic, and social stability in ASEAN countries, promote plan maintained production and supply chain stability, strengthen connectivity and restore trade and tourism,” Quang said.
The Webinar on “Seizing Trade, Investment and Tourism Opportunities in Vietnam and Indonesia amid the Covid-19 pandemic” is a series of activities hosted by the Embassy of Vietnam in Indonesia to further deepen the strategic partnership and to commemorate the 65th anniversary of diplomatic relations of both countries. (VOI)
