Market News - 26 February-4 March 2017
“Indonesia Allocates Rp1.5 Billion for Fish Farming Insurance” - Antara News - 1 March 2017
The Indonesian Maritime Affairs and Fisheries Ministry has allocated Rp1.5 billion (US$112,000) for fish farming insurance program. The insurance will be used for protecting shrimp farming business from (losses due to) flood, tsunami, earthquake, and other natural disasters. The shrimp farmers who are eligible for the insurance should have at least 2 hectares of farms, he said adding that the insurance program would have been implemented in three provinces, including South and East Kalimantan. Other than implementing the insurance in 2017, the ministry has been prepared to revitalize 300 hectares of fish farming, develop 210 hectares of fish-rice farming, and 100 million of seeds. As well as building two feed factories, three offshore floated cages, and 200 units of self-contained feed.
“Gov't Boost Trade with France” - Tempo - 28 February 2017
Indonesian Foreign Affairs Minister Retno Marsudi met with French Foreign Affairs Minister Jean-Marc Ayrault to discuss endeavors strengthening economic ties between Indonesia and France. Both countries discussed topics around economic cooperation, particularly those related to investment, trade, creative economy, access to Indonesia’s oil palm products, and Indonesia's FLEGT timber license. Both ministers also discussed ways to accelerate the finalization of the Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the EU. In 2016, France invested US$109 million for 424 projects in Indonesia.
“Indonesia and France Will Work Together to Develop New And Improved Energy Sector” - Kompas - 28 February 2017
Indonesian Minister of Energy and Minerals Ignasius Jonan has met with the French Foreign Minister, Jean Marc Ayrault. The meeting was to formalize the establishment of the French Renewable Energy Group (FREG), which will create opportunities for cooperation Renewable Energy sector (EBT) between France and Indonesia. The purpose of the establishment of FREG, to improve contract B to B (business to business) between Indonesia and France in particular for the renewable energy sector and to encourage the participation of French companies in the renewable energy project in Indonesia.
“Indonesian Govt Will Increase Rate of Palm Oil Export” - Kompas - 28 February 2017
Ministry of Commerce through the Directorate General of Export Development (PEN) to encourage an increase in non-oil exports. The government will work Trade Attahce, Indonesian Trade Promotion Center, and the representative office of Economy and Trade in Taiwan. Diplomatic strategy as part of palm oil export development efforts need to be strengthened because of the current issues and challenges faced by national oil sector is very complex. Based on the record of the Ministry of Trade, the value of Indonesia's palm oil trade is quite large. In 2016, the export value of crude palm oil (CPO) reached 16.29 billion US dollars.
“State Plantation Holding Company Books Rp 38b Profit” - The Jakarta Post - 27 February 2017
State-owned plantation holding company PT Perkebunan Nusantara III booked Rp 38 billion (US$2.85 million) in consolidated profit in January after suffering losses of Rp 264 billion in the same period last year. The profit particularly came from the production increase of palm oil from 108,276 tons to 132,615 tons in January, this year.The transformation program of the company would be accelerated this year, covering financial restructuring, downstream business development, etc.
“Minister Mentions Options for Freeport Share Divestment” - Antara News - 27 February 2017
Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan has mentioned a number of options related to the purchase of 10.46 percent of share divestment of PT Freeport Indonesia.Such as, state owned entreprises, which he will hold a meeting with on Monday evening. The ministry is focusing on establishing a state-owned mining holding company to which the governments 9.36 percent stake in Freeport will be transferred. PT Freeport Indonesia had halted its production activities with effect from Feb 10, 2017, following the governments decision to have greater control on raw mineral resources.
“Full Support of Health Insurance for Foreign, Domestic Investors” - Tempo English - 27 February 2017
The Investment Coordinating Board (BKPM) gives its full support for the National Health Insurance program implemented by the Workers Social Security Agency (BPJS Ketenagakerjaan) by signing an MoU on Friday at Nusa Dua. Through the MoU, they are committed to give supports for implementation for both foreign and domestic investors.The cooperation is also the manifestation of the integrated of public service for the people and investors.