Category Archives: Business & Finance

Superior human resources must become driving force for innovation

Jakarta Superior human resources (HR), based on tertiary education, must become a driving force of innovation for Indonesia, Chairman of the Indonesian Institute of Sciences (LIPI) Laksana Tri Handoko stated.

“Superior human resources must become a driving force of innovation to build a creative economy based on science and technology,” Handoko noted in Jakarta on Friday.

Handoko stated that superior human resources have become the main capital for advancing the Indonesian economy and nation.

In the spirit of celebrating Indonesia’s 74th Independence Day, qualified human resources should become the driving force in enabling Indonesia to made advancements by clocking progress, from the present to the future.

Skilled human resources have become valuable assets of the nation that are the torchbearers of Indonesia’s future to compete and advance in the regional and global arena, he affirmed.

To this end, the government continues to invest in the development of quality human resources, including through universities, to produce a good-quality next generation.

Indonesian President Joko Widodo, known as Jokowi, emphasized the quality of human resources (HR) as the foundation for the nation’s development.

“Going forward, we must build a foundation of quality human resources, with mastery in science and technology,” the president noted through his Instagram account, Jokowi.

Source: Antara News

President to discuss social, economic issues with Malaysia’s PM

Jakarta (ANTARA) – President Joko Widodo’s meeting with Malaysian Prime Minister Mahathir Mohamad on Friday (Aug 9) will cover discussions centering on social, economic, and political issues.

“Several things will be discussed with Tun Mahathir Mohamad, especially issues pertaining to borders and our migrant workers,” the president remarked after the inauguration of the new building of the ASEAN Secretariat here on Thursday.

Another crucial issue to be discussed at the meeting is the discriminative EU directive on Indonesian and Malaysian palm oil.

“Including the discriminative regulation on our palm oil is one key issue,” Jokowi remarked.

The president is scheduled to depart for Malaysia on Thursday afternoon after concluding his working visit to Bali Province.

Foreign Minister Retno L. P. Marsudi had earlier stated that several items on the agenda have been planned for President Jokowi and Malaysian Prime Minister Dr Mahathir Mohamad on Friday. The meeting will end after the Friday prayer.

“The president will thereafter head to Singapore since the Sultan of Brunei, Malaysia’s Prime Minister, and the Indonesian President are invited by the Prime Minister of Singapore to attend celebrations of Singapore’s National Day,” she remarked.

After attending the celebration in Singapore, Jokowi will return to Jakarta on Friday evening.

Source: ANTARA News

Waskita plans to issue US$210 million in global bonds

Global bonds highly depend on rating from international (rating) agencies.

Jakarta (ANTARA) – State-owned construction company PT Waskita Karya (Persero) plans to issue global bonds worth US$210 million in a bid to strengthen its refinancing system and improve its performance.

The option to issue the global bonds will always consider market developments, PT Waskita Karya Finance Director Haris Gunawan remarked in Jakarta on Monday.

The company is yet conducting discussions on the plan to issue the bonds, he stated.

“Global bonds highly depend on rating from international (rating) agencies,” he pointed out.

Proceeds from the issuance of the global bonds will be directed to finance new investment and build several sections of the toll road in which the company invests, he stated.

The plan to issue the global bonds is also part of the efforts to find the lowest risk, particularly in terms of cost and other factors, such as tenor.

Gunawan noted that during the second semester of 2019, Waskita also plans to divest its shares in two sections of the toll road it manages.

PT Waskita Karya reportedly secured new contracts worth Rp8.18 trillion in the first semester of 2019 as compared to Rp7.65 trillion during the corresponding period last year.

The contracts include those from the Juanda Airport in East Java worth Rp623 billion; Istiqlal Mosque in Jakarta, worth Rp423 billion; Hasanudin Airport in South Sulawesi, worth Rp422 billion; Becakayu toll road in West Java, worth Rp773 billion; Rest Area at the Bakaheuni-Terbanggi Besar section of the Trans Sumatra toll road in Lampung, worth Rp343 billion; and Revitalization of the Ragunan Youth Sport in Jakarta, worth Rp381 billion.

Source: ANTARA News

President leads cabinet meeting on draft 2020 state budget

“We keep it sound and responsive to strengthen the competitive edge and boost economic growth,” Jokowi explained.

Jakarta (ANTARA) – President Joko Widodo (Jokowi) led a plenary cabinet meeting to discuss the draft 2020 state budget and its financial notes at the State Palace in Jakarta on Monday.

The plenary cabinet meeting took place before the head of state delivers the draft 2020 state budget and its financial notes to the House of Representatives (DPR) normally on August 16, a day before the nation celebrates its independence.

Vice President M. Jusuf Kalla was also present at the meeting.

At a limited cabinet meeting held at the Presidential Office in Jakarta on July 15, 2019, President Jokowi gave directives to draw up the indicative ceiling of the draft 2020 state budget.

“We keep it sound and responsive to strengthen the competitive edge and boost economic growth,” he explained.

The president highlighted four aspects to draw up the indicative ceiling of the draft 2020 state budget.

“Firstly, as I have stated, the 2020 state budget prioritizes the promotion of human resources through education, healthcare, training, and so on,” he stated.

Secondly, five percent of the state budget allocated to the health sector will be able to improve the quality of health across the country, and more importantly, eradicate cases of stunting and malnutrition, and promote the health and safety of pregnant women as well as the immunization program.

Thirdly, the development of infrastructure must be focused, followed by the development of production centers in special economic zones, tourist resorts, and small industrial estates.

Fourthly, the draft 2020 state budget must be able to reduce the poverty rate. “The poverty control program (PKH), village fund, and subsidized basic necessities must reach those really entitled to them, and so also capital assistance for micro, small, and medium entrepreneurs,” he remarked.

Speaking in connection with the personnel budget, the president reiterated that all must be related to bureaucratic reforms, both at the central and regional levels.

“Utilize the budget fund as efficiently as possible, reduce unproductive budget, and ensure that everything will meet target,” he added.

Source: ANTARA News