Indonesian President Joko Widodo conveyed a number of instructions in a bid to maintain the Indonesian economy on the impacts of the COVID-19 or Coronavirus outbreak. In a Limited Cabinet Meeting held at the Presidential Office, on Tuesday afternoon (Feb 25) in Jakarta, President Joko Widodo called on his staff to prepare all instruments in a bid to strengthen the resilience and competitiveness of the Indonesian economy. In addition, he also called on his staff to maximize tourism promotion in the country by holding international meetings and events.

"I call for the optimization of to maximize the MICE tourism, namely meetings, incentives, conferences and events in the regions across Indonesia, in a bid to boost tourism promotion to foreign tourists who are looking for alternative tourist destinations, because they could not visit China, Korea and Japan. And I hope that these measures which are aimed at boosting the Indonesian economic resilience can be carried out simultaneously and support each other," President Jokowi said.

Meanwhile, in a bid to increase domestic consumption, President Joko Widodo reminded all Ministries and Institutions to immediately expedite the country's spending. Jokowi also called on other ministries to immediately implement all social protection programs.

"I also call for the immediate implementation of social security programs such as PKH (Family Hope Program) and other social assistance programs. The programs also include cash-for-work and labor-intensive programs that have direct impacts on the society. I hope that related ministries such as the Ministry of Public Works and Housing, the Ministry of State-owned Entrprises, and the Ministry of Transportation. In addition, I also ask for the support of the Ministry of Agriculture in building irrigation and the Ministry of Maritime Affairs and Fisheries. I hope the programs can be realized immediately," President Jokowi said.

President Joko Widodo asked his staffs to take measures to overcome the current account deficit and trade balance. According to him, the step must be carried out effectively and supervised in a bid to curb import// (VOI/Andy/AHM)

Jakarta (VOI News) - Voice of Indonesia in collaboration with Dompet Dhuafa, Republika daily and the Indonesian Journalists Association (PWI) held a Diplomatic Forum on Freedom of the Press, A Tribute to BJ Habibie, at the Jusuf Ronodipuro Auditorium, RRI Building Jakarta, Wednesday, February 26, 2020. Release of Voice of Indonesia, Tuesday (25/02) said the role of the press as a pillar of democracy continues to be challenged. Increasing the Press Freedom Index, pressure on the media crews to the emergence of the hoax phenomenon often appears on the surface. Baharuddin Jusuf Habibie passed away on September 11, 2019. Habibie left a great legacy for the advancement of Indonesian democracy in the form of press freedom. Because of his services, on September 16, 2019, the Indonesian Journalists Association (PWI) awarded him the Father of Indonesian Press Freedom. Diplomatic Forum "Freedom of the Press, A Tribute to BJ Habibie" featured speakers namely Secretary General of the Ministry of Communication and Information Niken Widiastuti, German Ambassador to Indonesia Dr. Peter Schoof, John Nickell, Head of Media and Communication of the British Embassy in Jakarta, Chairperson of the Indonesian Journalists Association (PWI) Atal Sembiring, and Republika Editor in Chief Irfan Junaidi. (VOI /AHM/RELEASE)

Jakarta - Bank Indonesia (BI) highlighted the need to step up international cooperation to overcome the current global economic pressure arising from the spread of the coronavirus.

"Indonesia invites G20 countries to continue to strengthen international cooperation and implement a policy mix to strengthen recovery and encourage global economic growth," BI Governor Perry Warjiyo noted in a statement in Jakarta on Monday.

This featured in the discussions that surfaced at a meeting of the Ministers of Finance and Central Bank Governors of G20 countries attended by BI Governor Perry Warjiyo and Finance Minister Sri Mulyani Indrawati on February 22-23, 2020, in Riyadh, Saudi Arabia.

During the meeting, the G20 countries also agreed to strengthen monitoring of global risks, especially those originating from the Covid-19 as well as raising awareness of the various potential risks and agreed to implement an effective policy mix response, in the monetary, fiscal, and structural terms.

"In the midst of the prospects of moderate global economic growth, the potential risks are still relatively high, including geopolitical tensions, trade tensions, and policy uncertainty," the BI governor added.

Saudi Arabia took over the G20 Presidency in 2020 with the big theme "Realizing the Opportunity of the 21st Century" that drew motivation from the rapid technological developments that changed the global economic order towards a digital economy and finance.

However, the discussion also encompassed community participation in the economy, especially young people, women, and MSMEs, which still need access and opportunities to be involved in the economy and finance through the utilization of technology.

In addition, opening access to funding sources through the development of the domestic capital market and strengthening the regulation and supervision of the financial sector in the era of the digital economy is also on the agenda of the Saudi Arabian G20 Presidency.

The BI governor also supported the agenda of the Saudi Arabian G20 Presidency in connection with the development of the domestic capital market and underscored the significance of economic resilience as a basis for the development of the domestic capital market.

Furthermore, the BI governor reiterated the criticality of increasing the base of domestic investors, mitigating the volatility of capital flows, and maintaining the integrity of the capital market to prevent frauds and maintain credibility.

In the financial sector, strengthening the financial system through implementing the financial sector reform agenda and utilizing technology became the focus of the Ministers of Finance and Governors of the Central Banks of the G20 countries.

To this regard, the G20 welcomes the Financial Stability Board (FSB) plan, the Committee on Payments and Market Infrastructure, and other Standard Setting Bodies (SSBs) in preparing a road map for strengthening cross-border payment systems and preparing for the transition to the benchmark interest rate from the London Interbank Offered Rate (LIBOR) that will be discontinued in 2021.

Hence, the BI governor echoed Indonesia's support for the agenda of the Saudi Arabian G20 Presidency, specifically cross-border payments and the LIBOR transition. The BI has launched the vision of the Indonesian Payment System 2025 that makes cross-border payments an important element, including supporting the participation of fintech and digital payment services.

So far, BI has been working with relevant authorities to prepare for the LIBOR transition by banks in Indonesia.

BI also reiterated the significance of international cooperation during the transition process.

Furthermore, the G20, under the G20 Presidency of Saudi Arabia, will prepare guidelines to enhance digital financial inclusion to young groups, women, and MSMEs.

Discussions on other crucial issues in the financial sector are underway, such as regulation/supervision related to global stability (GSC), overcoming financial market fragmentation, increasing cyber resilience, and evaluating the impact of implementing the reform agenda in the financial sector, including the condition of Too Big To Fail. (ANTARA)

Jakarta - Indonesia's research funding has reached Rp27 trillion which is much higher than those of the Philippines and Vietnam, but it just has 89 researchers for every one million, Vice President Ma'ruf Amin said. Compared to Vietnam whose research funds are recorded at Rp24 trillion, the number of researchers that Indonesia currently possesses remains lower than that of the country, he told participants of the Agency for the Assessment and Application of Technology's (BPPT's) working meeting in Jakarta on Monday.

Referring to the 2019 Global Innovation Index, Vietnam has 673 researchers in every one million people, he said, adding that Indonesia ranked 85 out of 129 countries across the world, and among the ASEAN member states, it ranked second-last in research.

The worst indicator of this reality was related to institutional weakness, according to the Vice President.

The large amount of research funds that Indonesia has reveals the government's seriousness in placing science and technology as an essential aspect of the country's national development, he said.

The BPPT was expected to be able to make innovations that meet the people's needs because one of the measures of this agency's success was that its technological innovations were applied in society, he said.

As a science and technology institution, the BPPT must be able to function well in the assessment and application of science and technology, Amin said.

The low quality of Indonesia's human resources has partly contributed to the weakness of the country's innovations, Research and Technology Minister/Head of National Research and Innovation Agency (BRIN) Bambang Brodjonegoro opined.

Indonesia has yet to meet the standards commonly applied in developed countries. "We talk about PhD-based researchers, the ratio of researchers to population, and the productivity of researchers," he said.

In improving the quality of research and innovation, Indonesia's human resources in research and technology must seriously be developed because researchers are the primary source of innovations, Brodjonegoro said.

Therefore, simplifying the research-related bureaucracy is a dire need because research cannot be developed with structural stages and complicated bureaucracy, he said.

In his second term, President Joko Widodo (Jokowi) pledged to focus on improving the quality of Indonesia's human resources amid fierce competition among nations in this digital era.

His seriousness is obvious as revealed in the government's statement on the bill on the state budget for the 2020 fiscal year and its financial note that he delivered at the House of Representatives (DPR) plenary session on August 16, 2019.

He believes that the power of improved quality of human resources would enable Indonesia to actualize its vision to be a developed country, Jokowi said. However, in innovation, Indonesia has yet to be part of global innovation networks. (ANTARA)