Category: Trading

The government has disbursed Rp68.35 trillion in budget funds for micro, small, and medium enterprises (MSMEs) and corporations under the national economic recovery (PEN) program as of September 17, 2021, a Finance Ministry official has said.

The disbursed funds account for 42 percent of the total PEN budget fund of Rp162 trillion for MSMEs and corporations for 2021, the ministry’s expert staff for financial services and capital markets, Suminto, said on Wednesday.

“The government has implemented various programs to support MSMEs through fund placement at banks, among others,” he observed during a webinar on ‘Pushing BPR (Smallholder Credit Banks) to Rescue MSMEs’, accessed from Jakarta on Wednesday.

The government has placed funds in banks to provide liquidity support for the banking sector and drive the distribution of new working capital credit to business agents, he said. As of September 17, 2021, about 5.38 million debtors have benefited from the program, he informed.

In addition, the government has also offered a financing program for ultra micro businesses, he said. Until April 2021, about 800 thousand debtors have benefited from the facility, Suminto added.

It has also provided interest subsidies to MSMEs. Nearly 10.5 million MSMEs have benefited from the facility as of September 17, he added.

“The government also guarantees credit both for MSMEs and non-MSME units. The amount of credit collateral for non-MSMEs in 2020 reached 0.9 million debtors and 2.1 million debtors until September 17, 2021,” Suminto said.

Source: Antara News

The Indonesian Government has disbursed Rp468.9 trillion in village funds from 2015 to 2022, Deputy Finance Minister Suahasil Nazara has informed.

“These village funds are available in the village cash account, and we hope they are used as much as possible to improve the life quality of the village community, according to their needs,” Nazara said at a webinar entitled ‘Encouraging Rural Banking to Rescue MSMEs’, originating from here on Wednesday.

In 2021, the government has requested that at least eight percent of the village funds in each village be utilized for dealing with COVID-19, he noted adding, the government has allocated Rp72 trillion for village funds.

Meanwhile, special staff for financial services and capital markets at the Finance Ministry, Suminto, observed that the amount of village funds has continued to increase each year.

In 2015, the government had distributed village funds to the tune of Rp20.7 trillion, he noted. The quantum of village funds has increased to Rp68 trillion, and is targeted to reach 74 thousand villages in 2022, he added.

“The average village fund received by each village has tripled. In 2015, the average fund per village was around Rp280 million. This year, it has reached Rp960 million (per village),” he expounded.

Village funds would be effective in reducing poverty in villages and for building development, he informed.

Citing data from Statistics Indonesia, he said poverty rates in villages in March 2021 hit 13.20 percent.

“The village fund is expected to solve this problem and (support) other human development, including the construction of basic infrastructure in villages,” Suminto remarked.

He also hoped that Rural Banking (BPR) can help the government in optimizing the distribution of village funds.

“It is expected that BPR can also benefit from the village funds. Then, with the rise in economic activities and community welfare (of villages), banking activities will improve too, including BPR,” he added.

Source: Antara News

The National Peatland and Mangrove Restoration Agency (BRGM) is upbeat about the president’s target of rehabilitating 34 thousand hectares of mangroves this year being achieved.

In a written statement here on Wednesday, Head of BRGM Hartono stated that his group will continue to plant mangroves in nine provinces: North Sumatra, Bangka Belitung, Riau Islands, Riau, West Kalimantan, East Kalimantan, North Kalimantan, Papua, and West Papua.

“In order to expedite mangrove rehabilitation, we also involve local residents through the labor intensive method, so that the mangrove planting target can quickly be achieved,” he noted in response to President Joko Widodo’s statement while planting mangroves along with the residents at Raja Kecik Beach, Bengkalis District, Riau, on Tuesday.

According to Hartono, mangrove rehabilitation can preserve the ecosystem and also provide additional income to the people. Hartono remarked that the BRGM program can benefit the people by improving their standard of living and purchasing power that would make them prosperous.

“Thus, this is done not just to fix the mangrove ecosystem, but it also becomes the government’s efforts to drive acceleration of economic recovery post-COVID-19,” he elaborated.

As the country, with the widest mangrove area, specifically spanning 3.36 million hectares, mangrove rehabilitation conducted by the government is part of the efforts to protect the nation since the destruction of mangroves can have an impact in terms of climate change in Indonesia and the world.

Hartono highlighted that some 1.4 million mangroves, spanning an area of 464 hectares, had been planted in Bengkalis District by 24 groups comprising local residents.

Mangrove rehabilitation is conducted by BRGM along with the Ministry of Environment and Forestry (KLHK) through the River Flow and Protected Forest Area Management Agency (BPDASHL) in line with the National Economic Recovery (PEN) program.

Source: Antara News

Confederation of Indonesian Trade Unions (KSPI) President Said Iqbal urged the government to extend the Wage Subsidy Program (BSU) and Pre-employment Card social safety net since workers are still reeling from the impacts of COVID-19.

“We truly encouraged and hoped that President Jokowi would extend the BSU and Pre-employment Program and not discontinue it,” Iqbal remarked during a virtual press conference observed from here on Wednesday.

According to Iqbal, the end of COVID-19 cannot yet be estimated since the likelihood of the number of cases rising is high.

Moreover, economic growth is yet in the process of recovery, with the purchasing power for workers still impacted.

In relation to the social security net for workers, such as BSU, he expressed optimism that the scope of distribution would be expanded and would not only include regions with the status of Public Activity Restriction (PPKM) level 3 and level 4.

This is since regions categorized as PPKM level 3 and level 4 had decreased owing to the hard work of the government and people, he stated.

The BSU should also prioritize workers, people terminated from work, daily salary workers, and employees whose income cannot cover their living expenses, he explained.

“Workers in this category should be guaranteed to receive BSU,” Iqbal expounded.

Speaking in connection with the Pre-employment Card, he stated that the program’s incentive segment should be increased as compared to the training costs in order to encourage workers to partake in the program to boost capabilities and to support the government’s economic recovery program.

“Once everything comes back to normal, then it can be implemented as it was earlier intended,” he stated.

Source: Antara News

State-Owned Enterprises Minister Erick Thohir on Wednesday announced the names of the six finalists of the #GirlsTakeOver program, who will take on his duties and those of five SOEs directors for a day.

He said #GirlsTakeOver finalist Sharon from West Java will take over his role as State-Owned Enterprises Minister for a day.

“Of course, Thursday (September 30, 20219) there will be a leadership meeting, so Sharon will lead the meeting on two things later. One of which is to ensure if the equality program in State-Owned Enterprises is running, and the second task is how we, the State-Owned Enterprises Ministry’s programs, will now focus on three things: first in education, second in the environment, and third in micro, small, and medium enterprises. These four things will be reviewed at the leadership meeting,” Thohir informed in Jakarta on Wednesday.

Another young finalist, Virdha from Central Java, will replace Angkasa Pura I managing director Faik Fahmi for a day, he disclosed.

“We know that our tourism (sector) is currently declining due to COVID-19, but we are sure it will rise given that the majority of our tourists are domestic tourists. Of course, the facilities at airports need to be reviewed to support (people with) disabilities. Later, I will assign Virdha to take over the Angkasa Pura Group to review how the facilities are prepared for people with disabilities. Please report the results to me later,” the minister said.

Meanwhile, Adinda from Central Java will take the place of president director of Bank Mandiri, Darmawan Junaidi, for a day, Thohir informed.

“Adinda’s background is interesting because she is in the field of informatics, and we know that digital banking is currently trending. Thus, I have asked Adinda to go to Bank Mandiri as the managing director, later report to me how the digital transition is at Mandiri,” he said.

Another youngster, Indira from South Sulawesi, will get to assume the office of president director of Kimia Farma, Verdi Budidarmo, for a day, the minister added.

“With the discussions we had, I also saw the importance of Indira trying to see how to improve our health industry, especially in medicine. I assigned Indira to Kimia Farma to check up on two things, those being mapping imported raw materials at Kimia Farma. Second, Kimia Farma is also currently integrating services with IHC Pertamedika. (I want her to) see for herself, what the pluses and minuses are,” he observed.

According to Thohir, Sisilia from East Nusa Tenggara will replace BRI president director Sunarso for a day.

“Sisilia from Kupang, East Nusa Tenggara, likes to help school kids every day. We know how now that BRI, PNM, and Pegadaian have become a singular entity in raising capital for the largest successful rights issue in Southeast Asia, second in Asia, and seventh in the world, with a value of Rp96 trillion (around US$6.7 million). We will focus on ultra micro and MSMEs,” the minister elaborated.

“Of course, because Sisilia has experience as an Early Childhood Education teacher, (she can) try to see how the integration system among PNM, BRI, and Pegadaian is. Please review it again, maybe there are some other inputs to make it better,” he added.

Lastly, Putri from West Java will have the opportunity to replace Telkomsel’s president director Hendri Mulya Syam for a day, he revealed.

“I assigned Putri the task to go to Telkomsel as the president director. Telkomsel is doing a very big integration. I assigned Putri to review Telkomsel’s preparations to face the second wave of digital disruption. Later on, (she can) give me inputs,” Thohir said.

“We have selected six young finalists from 7,023 applicants. This is the largest number. And obviously what is interesting is that the mentoring in SOEs is not only by me, we will also involve the two Deputy Ministers of State-Owned Enterprises,” he added.

#GirlsTakeover is a global campaign initiated by Plan International, which is held simultaneously in 75 countries each year to mark International Girls Day on October 11. This year, the theme for the day is gender equality and youth leadership in the working world.

Source: Antara News

The East Asia and Pacific region’s recovery has been undermined by the spread of the COVID-19 Delta variant, which is likely slowing economic growth and increasing inequality in the region, the World Bank said, Trend reports citing Reuters.

Economic activity began to slow in the second quarter of 2021, and growth forecasts have been downgraded for most countries in the region, according to the World Bank’s East Asia and Pacific Fall 2021 Economic Update.

While China’s economy is projected to expand by 8.5%, the rest of the region is forecast to grow at 2.5%, nearly 2 percentage points less than forecast in April 2021, the World Bank said.

“The economic recovery of developing East Asia and Pacific faces a reversal of fortune,” said Manuela Ferro, World Bank Vice President for East Asia and Pacific.

“Whereas in 2020 the region contained COVID-19 while other regions of the world struggled, the rise in COVID-19 cases in 2021 has decreased growth prospects for 2021.”

The economies of several Pacific island countries and Myanmar have been hit the hardest, with Myanmar expected to contract by 18% while the Pacific island countries as a group are anticipated to shrink 2.9%, the World Bank said.

Myanmar will see the biggest contraction in employment in the region and the number of poor people in the country will rise, it added.

“There is no doubt the military takeover (in Myanmar) has led to a disruption of economic activity combined with the civil disobedience movement which means fewer people are going to work,” said World Bank East Asia and Pacific Chief Economist Aaditya Mattoo.

The report estimates most countries in the region, including Indonesia and the Philippines, can vaccinate more than 60% of their populations by the first half of 2022. While that would not eliminate coronavirus infections, it would significantly reduce mortality, allowing a resumption of economic activity.

The damage done by the resurgence and persistence of COVID-19 is likely to hurt growth and increase inequality over the longer-term, the World Bank said.

“Accelerated vaccination and testing to control COVID-19 infections could revive economic activity in struggling countries as early as the first half of 2022, and double their growth rate next year,” Mattoo said.

“But in the longer term, only deeper reforms can prevent slower growth and increasing inequality, an impoverishing combination the region has not seen this century.”

The World Bank said the region will need to make a serious effort on four fronts to deal with the rise in coronavirus: addressing vaccine hesitancy and limitations to distribution capacity; enhancing testing and tracing; increasing regional production of vaccines; and strengthening local health systems.

Source: TREND News Agency

Despite the challenges of COVID-19 pandemic, Indonesia aims to strengthen public-private partnerships to accelerate infrastructure development and economic recovery.

As a vast archipelagic nation with the world’s fourth most populous population, Indonesia’s widespread geography presents a unique challenge for an equitable development. To accelerate its progress, the government has been known to make provisions for infrastructure to support economic activities as a cornerstone.

Defined as a cooperation between the government and business entities in the provision of infrastructure aimed toward the public interest, the public-private partnership (KPBU) is a strategic move to finance development plans and project implementation, considering the limited resources of the country’s State Budget (APBN).

Through the Presidential Regulation No. 38/2015, the public-private partnership framework is expected to help achieve the nation’s infrastructure investment target of USD 429 billion between 2020 and 2024. More than that, the private sector is also expected to contribute more than 50% of the total investment target.

Sri Mulyani, Indonesia’s Minister of Finance, recognizes the importance of a sustainable infrastructure development.

“Within the Ministry of Finance, we have designed several special mission vehicles such as PT Sarana Multi Infrastruktur (SMI) and PT Penjaminan Infrastruktur Indonesia (PII) with tasks of providing loans guarantee and technical assistances to the KPBU’s regions and projects,” stated Sri Mulyani.

She also recognized the importance of efficient institutional and bureaucratic reforms, regulated under the recently passed Indonesian Law No. 11/2020 on Job Creation.

“Under President Joko Widodo’s administration, convoluted regulations have been eliminated and simplified to improve bureaucratic performances. We are continuously improving the ease of doing business in every aspect of government services, including public services,” added the Minister.

Ready-to-offer projects

There are four immediate sectors which the partnership scheme currently supports: water resources; roads and bridges; housing; and settlement.

The water resources sector includes the building of dams, hydroelectric power, multipurpose dams, and sea dikes. The construction of highways, roads and bridges are included in the roads and bridges sector, while low-cost apartments are part of the housing sector. The settlement sector, on the other hand, incorporates drinking water treatment systems, waste management and wastewater treatments.

Each project that falls into the public-private partnership framework must complete a rigorous cycle, which is comprised of four phases: project identification, preparation, procurement and implementation.

According to the Public Works and Housing Ministry (PUPR), there are 25 ready-to-offer projects valued at IDR 286.8 trillion available in 2021 — most of which come from the roads and bridges sector. Meanwhile, in the water resources sector, the ministry notes a couple of ready-to-offer projects valued at IDR 9.6 trillion.

Ministry of Investment/BKPM is ready to help implement the nation’s growth strategy by supporting every aspect of the investment process, such as providing a one-stop service platform for business registrations and legal administrations: the OSS-RBA. It is a risk-based online single submission system created to ensure transparency and simplicity.

This public-private partnership is a long-term contractual arrangement between public and private entities aimed toward developing infrastructure assets. Its role in accelerating sustainable economic growth is pivotal to the national plan of improving public service delivery.

Source: INDONESIA INVESTMENT COORDINATING BOARD

UNS — Jersey is common clothing during a soccer match. However, the clothing can also be worn during other sports such as cycling, volleyball, and badminton. Jersey is generally made from light fabric to absorb sweats that do not interfere with users’ comfort when exercising. Currently, we saw an increase in community sports activities during the Covid-19 pandemic. More people are doing sports such as soccer, cycling, badminton, and many others, which leads them to make a jersey for their team.

According to Dr. Edi Kurniadi, M.Pd., a lecturer from the Faculty of Teacher Training and Education (FKIP) Universitas Sebelas Maret (UNS) Surakarta, the jersey printing business is one of the most profitable printing businesses due to its brilliant prospect and is predicted to continuous growth in the future. He also states that the current trends encourage people to sell jersey clothing at a competitive price. Aside from their low price, the quality of the jersey material and design are crucial elements considering the convenience of the wearer. The production of custom jersey print is based on customer orders. Hence there are several technical aspects that need customization according to the custom order, such as the color, type of fabrics, production process, design, and production schedule. This adjustment to various aspects of production aims to deliver products that meet the consumers’ requirements in terms of timeliness, product quality, materials, and price.

Based on this condition, a team of community service program consisted of Nanang Yulianto, S.Pd., M.Ds., and Estetika Mutiaranisa Kurniawati, S.E., M.Acc., and led by Dr. Edi Kurniadi, M.Pd., is encouraged to hold a community service program in partnership with Raffa Apparel Custom Jersey Printing located in Cangakan, Karanganyar on Wednesday-Saturday (1-4/9/2021).

Dr. Edi explains that the assistance aims to solve partner’s problems through skills and knowledge improvement in web-based financial administration and online marketing. Moreover, community partner is given training in design creation by suggesting a specific character of a region. Dr. Edi explains that color selection and a club’s jersey design hold a significant meaning.

“This is because the jersey is used as an identity for a sports club. Color selection and design must have a meaning. Thus, specific tourism spot is expected to bring inspiration for the customers in Raffa Apparel”, Dr. Edi explains.

The team also gives additional sewing machines and overlock machines to anticipate additional quantity orders from the customers. The team also helped to optimize the layout of the production room so that the production process is smoother, more effective, efficient, and provides safety and comfort for workers and business owners. Dr. Edi hopes that the assistance can help Raffa Apparel to withstand the Covid-19 pandemic situation.

“We hope that this community service can help Raffa Apparel to survive in the midst of the Covid-19 pandemic and can grow in the future,” explains Dr. Edi. Humas UNS

Source: Universitas Sebelas Maret (UNS)