Day: May 9, 2022

President director of 4848 Group, Dadan Irawan Sarpingi, will speak on public-private partnerships at the Sarajevo Business Forum (SBF) on May 11–12, 2022.

In a written statement issued in Jakarta on Monday, Sarpingi said that public-private partnerships have emerged as a solution to accelerate recovery from the impact of the COVID-19 pandemic.

“Through the partnership, there will be cooperation and collaboration in attracting investment as well as creating jobs,” he added.

This year’s SBF has been organized by Bosna Bank International, in collaboration with the Islamic Development Bank, Dubai Islamic Bank, and Abu Dhabi Islamic Bank, in Sarajevo, Bosnia-Herzegovina after a gap of two years due to the pandemic.

Bosna Bank International CEO Emina Sisic has invited Indonesian entrepreneurs to take advantage of the forum to increase cooperation with business partners from Bosnia-Herzegovina and other countries.

“We understand the importance of Bosnia-Herzegovina and Indonesian entrepreneurs to be able to promote investment projects and business opportunities to foreign investors,” he said.

The 2022 SBF will be attended by businesspersons and investors from the European Union, the Balkans, Turkey, Asia, the Gulf countries in the Middle East, as well as local entrepreneurs from Bosnia-Herzegovina.

The forum will also serve as an opportunity for participants to conduct business meetings and discuss joint ventures and other business collaborations.

The Sarajevo Business Forum was first held in 2010 and is the most important annual business and investment event in Eastern Europe and the Balkans region.

At the 11th SBF, delegates from 33 countries will present investment projects in a number of sectors, namely manufacturing, agriculture, energy, education, finance, infrastructure, construction, services, and tourism.

At the forum, Sarpingi will also discuss the 4848 Group’s services that he leads, including transportation and cargo services, information systems for airports and flights, property, Hajj travel, business consulting services, dredging and reclamation, and aircraft engine maintenance.

A number of multinational companies from the US, the Netherlands, Germany, and the United Arab Emirates also use 4848 Group’s business consulting services.

Source: Antara News

Indonesia’s economy swelled 5.01 percent in the first quarter of 2022, surpassing the growth of several nations, including the United States, China, and South Korea, Coordinating Minister for Economic Affairs, Airlangga Hartarto, has said.

“Our economic growth in the first quarter has been stable, almost similar to the one in the fourth quarter of 2021, which was 5.01 percent,” he informed during a press conference streamed on the Presidential Secretariat’s YouTube channel on Monday.

Indonesia’s economic growth is considered to have surpassed that of a number of nations such as China (4.8 percent), Singapore (3.4 percent), South Korea (3.07 percent), the United States (4.29 percent), and Germany (4.0 percent).

“In terms of global economic growth, it is estimated to be 3.6–4.5 percent. However, several institutions have estimated that Indonesia’s economic growth is between 5.0–5.4 percent,” Hartarto informed.

The positive news on the economic front has been followed by total workforce of 4.2 million with the addition of 4.56 million workers. This means that almost everyone entering the workforce can be absorbed.

“The number of full-time workers is 88.42 million, or has risen by 4.28 million people. The surge in economic growth is also mirrored by the rise in the created workforce,” the minister said.

The number of part-time workers has risen to 36.54 million, an increase of one million. Meanwhile, the number of workers who are partially unemployed has declined by 770 thousand to 10.65 million.

All sectors from the supply side have, on average, experienced positive growth, starting from warehousing, industry, service, agriculture, and construction.

A similar phenomenon has also been observed on the demand side, including in household consumption, investment, and export-import, the minister noted.

Throughout Ramadhan, the spending index has increased along with the rise in traffic and passengers.

According to observations, the spending index in Kalimantan has increased to 199.6, Sumatra 178, Java 137, Maluku and Papua 145.5, and Bali as well as Nusa Tenggara 72.9.

Source: Antara News

The Ministry of Manpower has assured of action on reports related to the payment of the Eid allowance (THR) that have been received by its 2022 THR Command Post.

The ministry facilitated consultations and complaints regarding the allowance from April 8 to May 8 through the virtual THR Command Post set up by it.

“This virtual THR Command Post was designed to anticipate complaints, ignorance, and discrepancies in the implementation of THR payment in 2022,” secretary-general of the ministry, Anwar Sanusi, said in a written statement received here on Monday.

The THR Command Post was set up for all parties to provide consultations and address complaints related to the Eid allowance, he added.

“Up until the command post was closed on May 8, as many as 5,680 reports were received by the ministry’s virtual command post, which consisted of 3,037 online complaints (54 percent) and 2,643 online consultations (46 percent),” he informed.

The 3,037 online complaints were made against 1,758 companies, he said. Of the total complaints, 1,438 pertained to THR not being paid, 1,235 were about the THR not being in accordance with the provisions, and 364 complaints were about THR being paid late.

“From the reports, we have followed up with as many as 72 companies, and (complaints against) 1,686 companies are in the process (of being scrutinized),” he said.

The ministry has continued to encourage Manpower Offices in the regions to handle and resolve all complaints, Sanusi added.

In addition, the Ministry of Manpower has also held several coordination meetings with regional Manpower Offices to monitor and ensure that each complaint is followed up by manpower inspectors.

“The follow-up is carried out with stages of examination, up to the issuance of a memorandum of examination and recommendations for the imposition of administrative sanctions if the entrepreneur still does not comply,” he said.

Source: Antara News

Indonesia’s economic recovery is likely to continue to improve, with the gross domestic product (GDP) recording 5.01-percent growth year on year in the first quarter of 2022, a Finance Ministry official has said.

“A number of leading economic indicators have continued to show a promising trend,” head of the ministry’s Fiscal Policy Agency (BKF), Febrio Kacaribu, noted in an official statement released on Monday.

“Indonesia’s PMI (Purchasing Managers Index) that increased to 51.9 shows the consistency of the national manufacturing sector expansion,” he added.

A continued improvement in economic recovery was estimated during Ramadhan and Eid al-Fitr, when people tend to increase consumption.

The used production capacity in the manufacturing sector also reached 72.45 percent in the first quarter of 2022, or started to approach the average production capacity of 75.36 percent, which was recorded in 2019, that is, before the pandemic.

Amid the geopolitical conflicts occurring globally, the export demand for Indonesian manufacturing products, specifically commodity-based products, has continued to increase.

“Along with this expansion trend, the creation of new jobs is expected to increase along with the rise in workers’ wage,” Kacaribu said.

“This trend is expected to continue so that the national economy can be stronger and more resilient,” he added.

Inflation in April 2022 reached 3.47 percent year on year, reflecting an increase in people’s economic activity.

The high mobility during the Eid al-Fitr homecoming period, which was banned for two years, has driven the surge in air and inter-city transportation tariff, he said.

“However, this surge in inflation is still within the national inflation target, which is two to four percent, and it aligns with the ministry’s outlook,” Kacaribu added.

The government has continued to anticipate the risk posed by the COVID-19 pandemic and the surge in global economic fluctuation by making the Eid al-Fitr holiday a benchmark for Indonesia’s readiness to transition to the endemic phase.

As a precaution, the state budget has continued to be utilized as a shock absorber to maintain and improve economic recovery and preserve health handling, Kacaribu noted.

In addition, it is also being used to protect the purchasing power of the poor and vulnerable groups, as well as maintain fiscal management to make it healthier and sustainable in the medium-term, he added.

Source: Antara News