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June
Airlangga Encourages EuroCham's Contribution to National Economic Growth
Written by Daniel
VOInews, Jakarta: Indonesia's economy continues to grow amid the global economic slowdown. Recorded in the first quarter of 2024, national economic growth reached 5.11% (yoy). A number of strategies have also been pursued by the Government, including using a flexible, responsive, and accommodative fiscal and monetary policy mix, encouraging consumption and investment, not least through improving business relations between Indonesia and the European Union through the European Chamber of Commerce or EuroCham.
"In line with our efforts to improve the investment climate, Indonesia has taken steps to increase tax incentives to attract foreign and domestic investment to the country," Coordinating Minister for Economic Affairs Airlangga Hartarto said at the European Business Chamber of Commerce (EuroCham) in Indonesia 20th Anniversary Night Gala Dinner in Jakarta, Wednesday (19/06).
It is known that EuroCham is celebrating its 20th anniversary as well as commemorating EuroCham's long-term contribution in improving business relations between Indonesia and the EU which has contributed to the development of Indonesia's national economy. The European Union (EU) and its member states are among the parties that play an important role in Indonesia's foreign trade and investment. In 2023, total trade was recorded at USD30.8 billion and EU investment in Indonesia over the past five years (2019-2023) reached USD12.1 billion.
To optimise and enhance the potential for higher economic cooperation, Indonesia's CEPA negotiations with the EU are also being accelerated and substantially completed. Once the agreement is finalised, the partnership between Indonesia and the EU is expected to be at a new level with the ability to facilitate and create new market access, increase trade between the EU and Indonesia, and expand direct investment. "All of these negotiations are very important for both parties, and President Joko Widodo has also directed that this agreement be reached quickly, so that it can increase investment, and provide greater welfare to the community," Airlangga explained.
The Gala Dinner was held by EuroCham to celebrate the cooperation that has been established so far between Indonesia and the European Union. "The theme of tonight's Gala Dinner is 'Igniting Two Decades of Excellence' which is also in line with Indonesia's transformative journey to achieve momentum towards the Golden Indonesia 2045. We hope that the EU, especially EuroCham, can be Indonesia's partner in achieving this vision by providing access to new markets, technology, and investment opportunities through strong collaboration," said Airlangga.
In addition, Indonesia became the first ASEAN member to start the OECD accession process, and potentially the third OECD member in Asia after Japan and Korea. The OECD accession process is expected to catalyse the formulation or improvement of superior policies and regulations. "Thailand will also follow, and our entry from Southeast Asia will make the OECD stronger, because the OECD needs global south partners like us. For that, concrete steps must be taken and I expect the European business world to work together in the future, so that EuroCham's contribution to Indonesia is expected to remain loud and clear," Airlangga concluded.
Source: Coordinating Ministry for Economic Affairs
June
King's College London Ready to Operate in Singhasari SEZ Malang
Written by Daniel
VOInews, Jakarta: The government has issued a licence to establish a branch campus of King's College London (KCL) in the Singhasari Special Economic Zone (SEZ) in Malang district, East Java. Singhasari SEZ is the first exclusive area designated to develop the digital economy and education sectors.
Located at the Office of the Coordinating Ministry for Economic Affairs on Thursday (20/06), the Government handed over the King's College London (KCL) Branch Campus Establishment Permit in the form of Decree of the Minister of Education, Culture, Research and Technology Number 238/E/O Year 2024 on the KCL Branch Campus Establishment Permit granted to Yayasan King Singhasari Indonesia. "This is a new history for education in Indonesia because of the arrival of universities from the UK that are top 100 or number 40 best in the world. So this is present in Malang and hopefully, this can encourage the HR education cluster in Malang to become a superior cluster. And of course, the Singhasari SEZ is expected to be a hub for collaboration of major universities in the world and this synergy is certainly needed to prepare our human resources to enter the future of works," said Coordinating Minister for Economic Affairs Airlangga Hartarto as Chairman of the SEZ National Council at the event.
For education, KCL will take a full role in the implementation of the master's degree programme, from the implementation of the lecture curriculum to the teaching staff. The initial phase will focus on the digital economy through the MSc Digital Economies programme in September 2024, followed by the MSc Digital Futures programme in January 2025.
In addition, KCL's Place-Based Trans-National Education (TNE) is the first of its kind to be offered in Indonesia and half of KCL's faculty at the London campus have been involved in establishing TNE in Indonesia. This also demonstrates KCL's commitment to the delivery of its campuses in Indonesia. "And of course, the presence of King's College London will also facilitate Indonesian students who will study at King's College London. So it will be a two-sided agent. First to train the Indonesian people and then second to open access for Indonesian citizens to study at King's College London. So there will be 2 traffic and of course, we hope that the number of students in Indonesia will be more," said Airlangga.
In the future development plan, one new programme will be launched each year. The planned advanced programmes include an MSc in Digital Law in year 3, an MSc in Psychology in year 4, and an MSc in Cyber Security in year 5. Meanwhile, Singhasari SEZ will take a full role in providing infrastructure, facilities, and learning facilities for students.
On the occasion, Airlangga also gave directions to KCL to be able to accommodate at least 1,500 students, one of which is by working with the LPDP which is committed to providing scholarships for Indonesian students who will study at KCL Indonesia. "Of course, we hope that more universities will come to Indonesia. So that we have many top 100 human resources, and this will be in line with the demographic bonus in Indonesia and I hope that our young people become productive young people and can fill the needs of the digital economy," concluded Coordinating Minister Airlangga.
Source: Coordinating Ministry for Economic Affairs
June
London Stock Market (Photo : BBC) -
VOInews, London : The UK’s main stock market retook its crown as Europe’s most valuable for the first time in nearly two years, data shows.
The total value of companies listed on the London Stock Exchange (LSE) hit $3.18tn on Monday, overtaking the $3.13tn total value of companies listed in Paris, according to Bloomberg data.
Both valuations have shifted since and remain close, but analysts describe it as a milestone.
They say the French market has slumped because of the uncertainty around its election, while the UK market is recovering after several years of underperformance.
The LSE had been Europe’s largest stock market for many years before November 2022 when it was overtaken.
Analysts at the time blamed LSE’s performance on the fallout from former Prime Minister Liz Truss’ mini-Budget, a weak pound, recession fears and Brexit.
The LSE was worth about $1.4 trillion more than its Parisian rival in 2016//BBC-VOI
June
WMO Executive Council closes on key action-driven decisions
Written by nuke
Illustration : Green earth for the future (Photo : WMO) -
VOInews, Geneva : The World Meteorological Organization (WMO) Executive Council has approved a detailed road map to speed up and scale up efforts to ensure that life-saving early warnings cover everyone on the planet.
The seventy-eighth session of the Executive Council (EC78) took place in Geneva from 10 to 14 June 2024. In addition to an Early Warnings for All (EW4All) road map, it adopted an implementation plan for a Global Greenhouse Gas Watch and scaled up action on the cryosphere (ice and snow) in the face of dramatic changes.
The council agreed to a raft of other resolutions to strengthen Earth system observations, predictions and information systems. It adopted resolutions on climate monitoring and climate services, and research and innovation.
It also set the scene for more intense collaboration with the United Nations system, and to support humanitarian action through initiatives such as the WMO Coordination Mechanism (WCM) supported by the Weather 4 UN project.
One of the highlights of this Executive Council was the adoption of a Road Map for the Early Warnings for All initiative which outlines the vision and actions to enhance the delivery and use of multi-hazard early warning systems.
It covers the period from 2024-2027 with detailed dates, deliverables and defined responsibilities. This is in line with the target date set by United Nations Secretary-General, António Guterres.
“Strong early warning systems require stronger political and policy support from the international community and governments, in addition to significant investment in infrastructure, technology, and training. We must all champion the EW4All Initiative globally, advocating for increased investment and political will”, said Abdulla Al Mandous, President of the WMO.
“People’s lives and people’s safety are our top priority. Every single forecast that is issued has a human dimension. Every life we save has a human face, a family, a future”, said WMO Secretary-General Celeste Saulo.
“It makes economic sense. Early warning systems provide a ninefold return on investment. They are the low-hanging fruit of climate adaptation. If we don’t invest, the cost of inaction will be much higher than the cost of action,” she said.
According to a release received by Voice of Indonesia on Monday (17/06/24), early warning systems have helped decrease the number of deaths and have reduced losses and damages resulting from hazardous weather, water, or climate events. They provide a nearly tenfold return on investment.
But major gaps still exist, especially in small island developing states and least developed countries. Some 70% of all deaths from climate-related disasters have occurred in the 46 poorest countries over the past 50 years.
The road map seeks to leverage the entire WMO network and enhance the capabilities of its NMHSs to protect lives and livelihoods. WMO Members have already endorsed the structure underpinning the priority activities, with defined roles and responsibilities//VOI
June
Japan and Italy are Strengthening Their Cooperation in Defense and Diplomacy.
Written by Ofra Regina Suharsil
President Joko Widodo (third from left) along with, among others, Prime Minister Giorgona Meloni of Italy (second from right) and Prime Minister Fumio Kishida of Japan (far right) raise their shovels after planting mangrove trees in Ngurah Rai Forest Park (Tahura) on the second day of the G20 Summit in Denpasar, Bali, on Wednesday (16/11/2022). (Photo by: ANTARA FOTO/Media Center G20 Indonesia/Akbar Nugroho Gumay/aww.)
VOINews,Jakarta: Japan and Italy reached an agreement on Friday (14/6) to bolster cooperation in diplomacy, defense, and economic security amidst rising global tensions.
As reported by Antara, The meeting between Japanese Prime Minister Fumio Kishida and Italian Prime Minister Giorgia Meloni took place in Fasano, Italy, during the G7 Summit to finalize the action plan, as stated by the Japanese Ministry of Foreign Affairs.
The comprehensive agreement encompasses seven key areas, including collaboration in diplomacy, defense, and economic security, underscoring the imperative of enhanced partnership in light of China's military resurgence and Russia's incursion into Ukraine.
Additionally, the cooperation extends to various sectors such as economy, culture, people-to-people exchanges, academia, science and technology, as well as food and agriculture.
The joint effort reflects a shared understanding that security in both Europe and the Indo-Pacific region is interconnected, with a mutual objective of upholding international peace and stability, as mentioned in the official statement.
Japan's constitutional stance against war traditionally imposes limitations on defense exports. Nevertheless, Tokyo has progressively eased these restrictions since 2014, facilitating the conditional development of defense equipment.
Notably, Japan aims to collaborate with the UK and Italy in the joint development of next-generation fighter jets by 2035, marking a significant milestone in collective defense equipment advancement.
Japan's defense partnerships extend to 16 other nations, including Australia, France, Germany, India, Indonesia, Malaysia, the Philippines, Singapore, Sweden, Thailand, the United Arab Emirates, the UK, the US, Vietnam, and Ukraine./Antara/VOI
June
Low-cost sensors can improve air quality monitoring and people’s health
Written by nuke
Air Quality in some cities around the world (Photo : WMO) -
VOInews, Jakarta : Amid mounting concern about the health and environmental impacts of air pollution, a new report from the World Meteorological Organization points out the potential for low-cost sensor systems to assess levels of air pollution, identify sources and to support air quality strategies to reduce them.
Low-cost sensor systems (LCS) represent a key tool for filling gaps in existing global and local air quality monitoring networks and contributing information for policy-relevant air quality strategies.
In recent years, wide-scale deployments of LCS have been made in low- and middle-income countries, where they often provide air quality information in regions lacking the more traditional (and more expensive) reference grade monitors.
In high-income countries, they supplement existing reference grade monitors with more localized near real-time air quality information – for instance, to monitor fire and smoke or vehicle emissions on busy roads.
“Air quality forecasting involving low-cost sensors is an increasingly important field due to its potential to support widespread monitoring and early warning systems, particularly in areas lacking more traditional monitors. Air quality forecasting is important to support effective decision-making to manage air quality impacts, especially in terms of human health. They are an important additional tool which can be harnessed at the community level to make a real difference in people’s lives,” said Sara Basart, WMO Scientific Officer and one of the report's authors.
According to a release received by Voice of Indonesia on Thursday (13/06/24), the report, Integrating Low-Cost Sensor Systems and Networks to Enhance Air Quality Applications, was produced by WMO’s Global Atmosphere Watch network in collaboration with the UN Environment Programme (UNEP), International Global Atmospheric Chemistry project (IGAC) and international experts on technical and application areas.
It was released to coincide with the WMO Executive Council meeting, which has a focus on transforming science and practical services for society.
“Life begins and is sustained with breath, but too many around the world are suffering health problems and death due to breathing dirty air. Data-driven policy action towards combating air pollution is critical for efforts to improve global air quality – the more tools we have to support this, the greater our chances of recreating healthy environments for all life on earth,” said Richard Munang, Head of Global Environment Monitoring Systems and Early Warning for Environment Unit at UNEP.
The effects of air pollution lead to an estimated 7 million deaths every year, according to WHO.
Mounting evidence links ambient and household air pollution to various health outcomes like non-communicable diseases including respiratory, cardiovascular and pulmonary diseases, cancer, low birth weight, diabetes, cognitive impairment and mental health impacts//VOI
June
Turkey Aims for Status as One of the Top Three Tourist Destinations in the World by 2028
Written by Ofra Regina Suharsil
Balon udara terlihat di Cappadocia, Nevsehir, Türki pada 5 Mei 2024. (Photo by: ANTARA/Xinhua/Mustafa Kaya).
VOINews, Jakarta: After experiencing a successful year in 2023, Turkey is ambitious to become one of the top three tourist destinations in the world by 2028.
As reported by Antara, The Minister of Culture and Tourism, Mehmet Nuri Ersoy, stated that "Turkey aims to attract 80 million international tourists per year over the next four years. Currently, Turkey ranks fourth,".
This ambitious plan is crucial for Turkey's economy, which heavily relies on tourism revenue. Every year, millions of international tourists provide significant income for the country amid challenging economic conditions.
Kaan Sahinalp, Turkey's representative for the German travel company TUI, stated that "although this target is achievable, there is still much work to be done." According to him, Turkey needs to diversify its tourism promotions by showcasing its cultural and gastronomic richness in addition to beach tourism.
Stakeholders from both the government and private sectors in Turkey must collaborate to achieve the 2028 tourism target. Kaan Sahinalp emphasized the importance of improving pricing policies due to intense competition in the Mediterranean. Sustainability is also crucial, and Murat Toktas from the Turkish Federation of Hotel Owners suggested focusing on the luxury travel industry to boost revenue.
In 2023, Turkey's tourism sector recorded a milestone of 49.2 million international tourist visits, generating over 54 billion USD. The government expects this year's visits to reach 60 million with revenue of 60 billion USD, and targets 80 million visits and 100 billion USD in revenue by 2028.
However, significant price increases at Turkish resorts have attracted negative attention. Sahinalp warned that excessive price hikes could harm the tourism sector. Toktas added that attracting wealthy tourists to destinations such as Antalya and Bodrum, as well as diversifying markets to Southeast Asia, is essential for ensuring sustainable growth.
Toktas is optimistic that if conditions remain stable, Turkey is on the right track to achieve its goal of becoming one of the top three tourist destinations in the world by 2028.//Antara/VOI
June
North Korea, China, and Russia Accelerate Expansion of Nuclear Arsenals
Written by Ofra Regina Suharsil
Ilustrasi Photo by : AntaraNews
VOINews, Jakarta: U.S. National Security Council official Pranay Vaddi highlighted the rapid acceleration of nuclear arsenal expansion by North Korea, China, and Russia.
As reported by Antara According to Vaddi, "North Korea, China, and Russia are rapidly expanding and diversifying their nuclear weapons stockpiles, displaying little to no interest in arms control measures," as reported by Yonhap on Saturday.
Serving as the Senior Director for Arms Control, Disarmament, and Nonproliferation at the National Security Council, Vaddi noted that these countries' actions are compelling the United States and its allies to brace for an unrestrained nuclear arms competition.
He further stated, "The increased collaboration and coordination among these three nations, along with Iran, are creating dynamics that threaten peace and stability, posing risks to the United States, its allies, and partners, while aggravating regional tensions."
Vaddi emphasized that in response to the evolving nuclear landscape, President Joe Biden has recently issued updated nuclear weapons usage guidelines.
"This move underscores our commitment to utilizing arms control and other strategies to minimize the necessary number of nuclear weapons to meet U.S. objectives," he explained.
Vaddi cautioned that the U.S. must adapt its stance and capabilities to counter the growing threats from these countries, should there be no shift in their current nuclear policies.
He clarified, "Should adversaries' nuclear arsenals remain unchanged, we may find it necessary to increase the number of deployed weapons in the coming years."
Moreover, he underscored that Washington has proactively implemented "prudent" measures, including the development of modern versions of the B61 nuclear gravity bomb and efforts to extend the operational life of certain Ohio-class ballistic missile submarines during the transition to advanced capabilities.
He concluded by affirming that the U.S. is fully committed to ensuring its "extended deterrence" pledge, which involves leveraging its comprehensive military capabilities, including nuclear, to defend its allies and contribute to global nonproliferation efforts.//Antara/VOI.
June
Indonesia and 13 Countries Agree on Clean Economy at IPEF
Written by Daniel
VOInews, Singapore: Coordinating Minister for Economic Affairs Airlangga Hartarto together with partner country ministers successfully signed the Indo-Pacific Economic Framework for Prosperity (IPEF) agreements for the Clean Economy Pillar, Fair Economy Pillar, and IPEF Institutional Agreement (Overaching Agreement) at the IPEF Ministerial Meeting on Thursday (6/06) at the Sands Expo & Convention Centre, Singapore.
As quoted from written statement received on Thursday (6/6/2024), the achievement of an agreement on the IPEF agreement is one of the historic events that creates a new breakthrough in efforts to build clean and fair collective welfare through a cooperation agreement between countries in the Indo-Pacific region. "Pillar III of the Clean Economy is part of the IPEF agreement to realise a clean and environmentally responsible global economy. In this pillar, IPEF member countries are committed to increasing environmentally friendly economic activities through sharing information and experiences, exploring the potential of each country, and opening up broad investment opportunities for private parties in IPEF member countries that have a business orientation in line with the green economy,’ wrote the Coordinating Ministry for Economic Affairs.
It is known that some of the derivative initiatives from Pillar III are the Cooperative Work Programme (CWP) and the Clean Economy Investor Forum (CEIF), which also includes the IPEF Catalytic Capital Fund as a funding scheme for several high-quality climate infrastructure projects of up to USD 3.3 billion.
In order to support the effective implementation of commitments under the Pillar IV (Fair Economy) Agreement, IPEF partners welcomed the announcement of Capacity Building and Technical Assistance (TACB) programmes through the TACB Initiative Catalogue. ‘These programmes are designed to strengthen efforts to prevent and combat corruption, including money laundering and terrorism financing, as well as improve transparency and exchange of tax information,’ he continued.
The Indonesian Coordinating Ministry of Economic further explained that The TACB Initiative Catalogue will provide various opportunities for IPEF partners to develop effective anti-corruption policies and tax administration, through training for government officials in the investigation and prosecution of corruption cases, as well as workshops to improve integrity and online reporting systems. Indonesia hopes that in the future there will be more offerings from IPEF partners related to TACB, in order to assist IPEF partners in achieving Pillar IV high commitments.
"Indonesia and partner countries will take necessary strategic steps, including domestic consultation and ratification process of the IPEF Pillar III and IV Agreements which enter into force on 7 June 2024. In addition, IPEF partner countries will continue to commit to collaborate on clean economy and fair economy within the broader IPEF framework", concluded The Indonesian Coordinating Ministry of Economic.
Source: ekon.go.id.
June
Airlangga Encourages IPEF to Generate Projects and Jobs
Written by Daniel
VOInews, Singapore: Coordinating Minister for Economic Affairs Airlangga Hartarto is pushing for the Indo-Pacific Economic Framework for Prosperity (IPEF) cooperation to result in tangible projects that create jobs in the region. This was conveyed at the
Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting held on Thursday (6/6) in Singapore. "We must realise concrete projects next year. No one is left behind. The progress of the projects is there. The projects hopefully will create jobs in the regions,’ said Coordinating Minister Airlangga Hartarto.
According to a written statement received by Voice of Indonesia on Thursday (6/6/2024), Singapore Deputy Prime Minister Gan Kim Yong and US Secretary of Commerce Gina Raimondo viewed the IPEF meeting as a very important momentum in regional cooperation in the Indo Pacific region. ‘The meeting brought together senior Ministers from the 14 IPEF partner countries, which represent more than 40% of the world's GDP and 28% of global trade in goods and services,’ the Ministry wrote.
It is known that this meeting affirmed a joint commitment to strengthen and realise a clean, fair and holistic economy in the Indo-Pacific region, in line with the focus of cooperation stated in the 4 pillars of the IPEF agreement, namely the pillars of trade, supply chain, clean economy and fair economy.
Since the launch of IPEF two years ago in Tokyo, Japan, each meeting involving the 14 IPEF member countries (Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam), has achieved many significant achievements. At this meeting, the main focus was on three of the four IPEF pillars.
Firstly, the IPEF Supply Chain Agreement (Pillar II) which aims to strengthen regional supply chains, ensure smooth distribution of goods and services, and enhance cooperation among countries.
Secondly, the IPEF Clean Economy Agreement (Pillar III), which is an effort to reduce environmental impacts, has signed an agreement related to the clean economy. This includes the development of environmentally friendly technologies and the application of renewable energy.
Thirdly, the IPEF Fair Economy Agreement (Pillar IV) which aims to create a fair economy for all parties, including workers and businesses. Collaboration on economic regulations and policies is the main focus.
Indonesia and other IPEF partners are committed to continue the steps towards ratification and implementation of the signed agreements. The IPEF partners will continue to monitor progress under the three pillars of IPEF and gauge concrete outcomes at the next ministerial meeting in September 2024 in Washington DC. In addition, the meeting launched the Clean Economy Investor Forum (CEIF) as a forum among IPEF member countries that will help mobilise funds for clean energy technologies in IPEF countries.
US Secretary of Commerce Gina Raimondo gave special appreciation to Indonesia, for its active participation in IPEF. Secretary Raimondo gave a very positive response and fully supported Coordinating Minister Airlangga's request, which emphasised the importance of IPEF providing concrete results and tangible benefits for the community, particularly in job creation and improving people's welfare. ‘IPEF must bring job creation and opportunity for our people,’ said Secretary Raimondo, supporting Airlangga's statement.
Source: Indonesian Coordinating Ministry of Economics