Live Streaming
Program Highlight
Company Profile
November
The government has just launched the 16th Economic Policy Package on relaxation of policies for economic resilience. In this package, there are three points that are renewed, namely expansion of facilities for reducing corporate income tax (tax holiday), relaxation of negative investment list (DNI) and optimizing utilization of export proceeds (DHE). Of the 16 sectors, there are now 18 industrial sectors that get tax incentives. What's special about this policy package? Coordinating Minister for Economic Affairs, Darmin Nasution in his announcement at the Presidential Palace in Jakarta last Friday (11/16) explained that the policy is interconnected. He added that this policy is also connected with the Online Single Submission system –OSS. With this system, once investors meet the criteria, they can immediately get incentives.
The main objective of the policy is to improve current account deficit -CAD. Two weeks ago, Bank Indonesia -BI announced that CAD in the third quarter of 2018 had increased, namely US$ 8.8 billion dollars equivalent to 3.37 percent of Gross Domestic Product -GDP. This value is higher than the first quarter period which reached US$ 5.7 billion dollars. Minister Darmin Nasution believed that the CAD will not exceed 3 percent after the adoption of this new policy package.
Minister Darmin perceived that the 16th economic policy package is medium and long term. However, there are short-term elements to strengthen the self-confidence of fund owners. He acknowledged that the problem of the Current Transaction Deficit could not be completed in 1-2 quarters. For decades, the Current Transaction Deficit was indeed a deficit.
Businesspeople welcomed the new economic policy package. Chairman of the Chamber of Commerce and Industry, Roesan Perkasa Roeslani said that the government is regarded appropriate to take the right time to release the policy package in a bid to respond to current economic conditions.
By issuing a series of economic policy packages, the government is working hard to improve economic conditions amid global uncertainty and a trade war between two super-powerful countries: China and the United States. However, this positive effort must be accompanied by comprehensive implementation in the field. Cooperation is needed, especially with regions. Regional regulations may not hinder the realization of various central economic policies. In this case, good coordination is needed between the center and the region. If not, good policies will be ineffective and it will bring about distrust among investors.
November
The 33rd ASEAN Summit has just been held in Singapore. In addition to the ASEAN Summit, several forums were also held in the ASEAN initiative: ASEAN Plus One, ASEAN Plus Three, East Asia Summit, ASEAN Regional Forum, and ASEAN Defense Ministers Meeting. Some important issues are the Rohingya problem, trade protectionism, the Indo Pacific and the South China Sea.
One of the issues discussed more deeply is the resolution of the South China Sea conflict. After a while the agreement has not been reached, finally the ASEAN countries in the 20th meeting with China agreed to start negotiations on the Code of Conduct, even though they have not yet decided when to start.
The response to the agreement sounds positive because the hopes to end the South China Sea conflict will turn to reality. At least, that is what emerged from the results of the ASEAN and China meetings. ASEAN is one of the world's regions with positive economic growth, while other regions are growing more slowly. If political and security issues disturb ASEAN, it will have a direct impact on economic growth in the region. However, ASEAN cannot stand alone. One of ASEAN's main partners is China. Interference in relations with China can hamper growth in ASEAN. Take for example; it’s the conflict with China related to the South China Sea.
One of the key points to ASEAN's success was made by an Indian academic, Amitav Acharya who said that there is no identity without an institution and no institution can last long without an identity. Thus, SEATO fails and ASEAN succeeds. ASEAN with the togetherness and solidity of its members tries to overcome the problem of the South China Sea to find the best solution. In fact, China has set about 3 years to be able to agree on the Code of Conduct in resolving the South China Sea conflict.
This agreement is a progress to solve the South China Sea problem. This also proves that ASEAN can solve the problem directly without outside intervention.
November
November 16 is commemorated as International Tolerance Day. The United Nations Educational, Scientific and Cultural Organization -UNESCO set November 16 as the International Tolerance Day which aims to provide public awareness of the importance of tolerant attitudes in maintaining relations among communities. International Tolerance Day has been commemorated since 1996.
How is the tolerance in Indonesia today? Indonesia is known as a plural society with around 1,300 ethnic groups with diverse cultures and languages. Indonesia also has six official religions recognized by the state. These religions are Islam, Protestantism, Catholicism, Hinduism, Buddhism and Confucianism. Although various ethnicities, languages, cultures and religions, Indonesians still live in harmony, because Indonesia highly upholds the values of tolerance until today.
There are many examples that show how inter-religious tolerance in Indonesia has been established. Commemorating religious holidays is one example and this is recognized as national holidays, although the number of followers of the religion is few.
Indonesia as a country that highly upholds the values of tolerance has been recognized by the world. Some world leaders who have visited Indonesia praised Indonesia's tolerance. The 44th President of the USA, Barack Obama while speaking at the 4th Diaspora Forum in Jakarta in July 2017 appreciated tolerance in Indonesia. Chief adviser of the Iranian Spiritual Leader, Mohsen Araki, during a visit to the Office of the Vice President, Jusuf Kalla in December 2016 praised Indonesia for being able to show tolerance among religious communities. He said that Indonesia is one of the countries that becomes an example for living side by side, living peace, and brotherhood
Nevertheless, Indonesia is not free from some cases of intolerance. in recent years, some groups of people showed that attitude. Low enforcement of law may be a trigger for the emergence of intolerant attitudes apart from economic and political factors.
All stakeholders of the Indonesian nation are accountable to care, maintain and foster an attitude of tolerance so that Indonesia's future is protected from fanaticism conflicts among groups. Thus, both government and mass organizations have to care more and always instill national values, and fight for a culture of tolerance and diversity in Indonesia. So, peaceful Indonesia without inter-group conflict is not just a dream.
November