VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesian and South Korean government institutions and companies have signed 15 memorandums of understanding (MoU) during President Joko Widodo’s two-day visit to that country ending Tuesday.

The agreements signed in South Korea were on investment cooperation in various sectors including energy, property, machines, technology and cosmetics with total investment commitment of US$5.76 billion business to business.

"We are very open for investment flowing into Indonesia," chairman of the Indonesian Chamber of Commerce and Industry Rosan P Roeslani said received in Jakarta on Wednesday.

Rosan said there are still many trade and investment potentials between South Korea and Indonesia that need explorations.

"This shows improvement in the already strong trade and investment relations between Indonesia and South Korea," Rosan said.

The agreements include the industrial sector between Hyundai Engineering and PT Sulfindo Adiusaha to develop chemical industry to produce vinyl chloride monomer (VCM) and poly vinyl chloride (PVC) in Merak, Banten, at a cost of US$200 million;. between Doosan Infracore and PT Boma Bisma Indra and PT Equiti Manajemen Teknologi on development of diesel engine factory with an investment of US$185 million; and between SD Biotechnologies and PT Orion Pratama Sentosa to build cosmetic industry valued at US$20 million in Karawang, West Java.

There was also strategic partnership in the development of machine tool technology center in Bandung, West Java ascollaboration between the Korea Institute for Advancement of Technology and the Industry Ministry.

Rosan was a member of the presidential entourage to Korea also including Industry Minister Airlangga Hartarto, head of the Investment Coordinating Board Thomas Lembong and head of Bekraf Triawan Munaf. (ANTARA)

President Joko Widodo (Jokowi) received four South Korean business chiefs on the sideline of his state visit to that country on Monday.

The four business leaders include CJ Group Chairman Lee Jae-hyun, Lotte Group Vice Chairman Hwang Kag-gyu, POSCO CEO Oh-Joon Kwon and Hyundai Group Vice Chairman Chung Eui-sun.

They were received in turn at one of the rooms at Hotel Lotte Seoul.

CJ Group Chairman Lee Jae-Hyun expressed thanks to the President for having received him while Lotte Group Vice Chairman Hwang Kag-gyu said he would do his best to increase investment in Indonesia.

At the meetings President Jokowi was accompanied by coordinating minister for political, security and legal affairs Wiranto, industry minister Airlangga Hartarto, foreign minister Retno Marsudi, head of BKPM (capital investment coordinating agency) Thomas Lembong, head of Creative Agency Triawan Munaf, cabinet secretary Pramono Anung and ambassador Umar Hadi.

This was the first agenda of President Jokowi`s visit which was later to be followed by a Business Forum meeting.

Foreign minister Retno Marsudi said before President Jokowi would be very busy on Monday with around ten agendas to meet.

She said the President would hold a one-on-one meeting with South Korean businessmen, attend a business forum, a welcome ceremony and a bilateral meeting and a joint press conference with South Korean President Moon Jae-in.
President Jokowi is scheduled to stay in South Korea from September 9 to 11 before proceeding to Vietnam for a state visit from Sept 11 to 12. (ANTARA)

The Ministry of Youth and Sports has targeted Indonesia to rank seventh in the 2018 Asian Para Games which will take place in Jakarta on October 6-13.

"We expect Indonesia can finish in top seven in the 2018 Asian Para Games. Indonesia ranked ninth at the 2014 Asian Para Games in Incheon, South Korea," Youth and Sports Minister Imam Nahrawi said in Ternate, North Maluku, on Sunday.

The Indonesian contingent is expected to win 16 gold medals from 18 sports in the 2018 Asian Para Games.

At the 2014 Asian Para Games, Indonesia collected a total of nine gold, 11 silver and 18 bronze medals.

"I urge Chef de Mission (Cdm) Asian Para Games 2018 Arminsyah to ensure that the results of the trial championships can meet the target," he said.

In addition, the 2018 Asian Para Games emphasized the spirit of equality for persons with disabilities.

"Ternate is the city of the sultans. The development of a variety of cultures and traditions is truly echoed in this place. The same spirit is also raised in the torch relay of Asian Para Games in Ternate. The spirit is to respect anyone including persons with disabilities," the minister remarked.

The 2018 Asian Para Games will be held in Jakarta and Palembang from October 6-13 and participated by 41 countries with 2,800 athletes, 1,800 officials and 500 media, both domestic and abroad.

There are 18 sports to be competed at the 2018 Asian Para Games, namely basketball, volleyball, fencing, table tennis, swimming, shooting, judo, cycling, chess, weightlifting, bowling, goalball, badminton, running, archery, boccia, handball, and tennis. (ANTARA)

Indonesia is one of the countries affected by the strengthening United States Dollar (US). At present rupiah exchange rate against is still above Rp. 14,000 per US Dollar. The strengthening of the US Dollar exchange rate has affected business sector that relies on imports. However, on the other hand the strengthening of the US Dollar exchange rate has a positive impact on export-oriented business sectors. These impacts include increasing their profits which have implications to increase the country's foreign exchange reserves. This was stated by economist and capital market observer Lucky Bayu Purnomo in a discussion held by one of the private radio stations in Jakarta, Saturday, September 8, 2018.

“I think that is a logical and market opinion that when the US Dollar strengthens it becomes an opportunity for several sectors and there are also sectors that are under pressure. And mining is the most profitable sector,” Lucky Purnomo said.

Lucky Purnomo further explained that in addition to mining, other sectors that benefited most from the strengthening of the US dollar exchange rate were plantation sectors that were equally export-oriented and had trading partners based on US dollars. He also said the strengthening of the US dollar exchange rate should be used as a momentum to encourage exports and national logistics so that they will not compete with other countries which also affected by the strengthening of the US dollar exchange rate. (VOI / Rezha/DP)