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REAL SECTOR

ALL PARTIES MUST BE WISER IN INDUSTRIAL REVOLUTION 4.0 ERA

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Coordinating Minister for Maritime Affairs, Luhut Binsar Pandjaitan.

Greatindonesia.co.id, Jakarta – All parties, including state apparatuses, should become more intelligent and wiser to work in a directed, united, and integrated manner in the industrial revolution 4.0 era, Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan stated.

“In this era of industrial revolution 4.0, we have to become smarter and wiser in building a team. It works by having an open mind and heart as well as a strong will,” Pandjaitan remarked during a conversation with newsmen after opening a seminar on “Strengthening the Capacity of Indonesian Leaders to Face the Age of Industrial Revolution 4.0” here on Monday (3/12/20180.

He noted that in future, programs, such as training to face the era of industrial revolution 4.0, will be conducted on a more massive scale. This will not only involve the ministries/institutions but also embrace various parties, including political parties and non-governmental organizations.

“We have invited leading academics from the Massachusetts Institute of Technology (MIT) to such a seminar that has been held in Singapore, China, and several other countries to be better prepared to face the industrial revolution 4.0 and to equate our mindset. The National Resilience Institute (Lemhanas) and the Ministry of Research and Technology are appointed as leaders in this program,” Pandjaitan explained.

The minister stated that President Joko Widodo (Jokowi) had also called to increase the quality of Indonesia`s human resources through quality education.

“President Jokowi has stated that the best Indonesian children should be sent to study at the best universities at home and abroad and after returning home from their studies, they have to know what to do next,” Pandjaitan remarked.

In the meantime, Research, Technology, and Higher Education Minister Mohamad Nasir revealed that his side will reform the education system at Higher Education Institutions, which had been assessed as having shortcomings.

“We will make changes on a large scale, including the mindset about higher education, which has been confined to one campus, so that later it will open up and be able to see the world, how to progress and see what we are like. Hence, we can see what the `opportunity` is and continue to look forward and gauge how cohesiveness must be built together for the progress of the nation and state,” Nasir explained.

The Industrial Revolution 4.0 is the 4th industrial revolution that began with the internet revolution in the 90s, which was rapidly developing, so internet is now used in all fields.

The era of Industrial Revolution 4.0 is characterized by the emergence of supercomputers, smart robots, vehicles without drivers, genetic editing, and the development of neurotechnology that allows humans to further optimize brain function.

The term 4.0 Industrial Revolution was first introduced by Germany. (ant)

REAL SECTOR

MINISTRY OF FINANCE ENCOURAGES GEOTHERMAL ENERGY EXPLORATION

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Director General of State Wealth, Isa Rachmatarwata.

Greatindonesia.co.id, Jakarta – The Ministry of Finance is encouraging exploration and investment in the geothermal energy sector by preparing risk mitigation through the Government Drilling program.

“This program assists the government in new well exploration which is currently considered costly and risky,” Director General of State Wealth Isa Rachmatarwata said in a discussion in Jakarta, Wednesday. Investing in the country’s geothermal energy is still a stumbling block since the private sector is reluctant to take a risk in exploring power sources, Isa noted.

Keeping that in mind, the government has formulated the so-called Government Drilling program aimed at mitigating risks in each exploration activity, he said.

This program involves three Special Mission Vehicles (SPV) of the Finance Ministry, namely PT Sarana Multi Infrastruktur, PT Geo Dipa Energi, and PT Penjaminan Infrastruktur Indonesia (PII).

The three public service bodies make applicative approaches and adopt industrial governance in finding geothermal energy sources. The measures include planning and budgeting, procurement, operation and execution.

After the energy sources are discovered, they can be offered to investors interested in developing geothermal energy, he said.

“When a well is found and is economically sufficient to generate electricity, it will be offered to parties that are willing to conduct explorations,” he said.

He expressed the hope that the risk of geothermal energy exploration, which is currently considered costly and less attractive to investors, could be reduced.

“This does not mean that private companies are not allowed to find energy sources. They can do it but their numbers are not large if not zero. Therefore, the government is willing to take the initiative to ensure that investment does not run slowly,” he said. (sty)

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REAL SECTOR

COCOA INDUSTRY CONTRIBUTES US$1.13 BILLION TO FOREIGN EXCHANGE

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Indonesia is currently the third-largest producer of processed cocoa in the world after the Netherlands and Ivory Coast.

Greatindonesia.co.id, Jakarta – The majority of Indonesian-processed cocoa products were exported and contributed US$1.13 billion in foreign exchange in 2018.

Indonesia exported 85 percent of its total production of cocoa or 328,329 tons, last year and marketed the rest totaling 58,341 tons of cocoa domestically. The cocoa processing industry is one of the prioritized sectors, according to the 2015-2035 National Industrial Development Master Plan (RIPIN), the government has stated.

“Moreover, the cocoa processing industry is also part of the food and beverage industry which is a mainstay of the Making Indonesia 4.0 roadmap. This sector involves a lot of small and medium industries,” Industry Minister Airlangga Hartarto said in a statement Tuesday (17/9/2019).

The development of the national downstream processing industry is directed to produce cocoa or cocoa powder, cocoa fat or cocoa, chocolate food and beverages, supplements, cocoa-based functional foods, as well as cosmetics and pharmaceuticals, the minister emphasized.

Indonesia is currently the third-largest producer of processed cocoa in the world after the Netherlands and Ivory Coast.

The national cocoa processing industry has produced cocoa liquor, cocoa butter, cocoa cake, and cocoa powder.

“As one of the countries producing cocoa beans, Indonesia already has 20 companies processing cocoa. We continue to encourage increased utilization, while also spurring the productivity of domestic cocoa beans to maintain the supply of raw materials,” Hartarto noted.

Based on the data of the International Cocoa Organization (ICCO), Indonesia ranks sixth among the producers of cocoa beans in the world after Ivory Coast, Ghana, Ecuador, Nigeria and Cameroon with production volumes reaching 220,000 tons in 2018.

“To develop the cocoa processing industry and increase its added value, the government encourages the development of the downstream cocoa industry, which is cocoa and chocolate-based food,” Hartarto said.

One of the measures is to support the promotion of Indonesian processed cocoa and chocolate products to increase domestic consumption.

Furthermore, the cocoa processing industry is expected to continue to grow and develop, because its products have become part of the current lifestyle. (spg)

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FINANCE

INDONESIA’S STOCK, BONDS MARKET ATTRACTIVE : INVESTMENT STRATEGIST

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Amidst the current low interest rates, Indonesian bonds are very attractive because they still provide high yields.

Greatindonesia.co.id, Jakarta – The Indonesian stock and bond market remains an attractive option amid the global economic turmoil, an investment strategist at an asset management corporation in Indonesia believes.

“The stock market still provides attractive investment opportunities because of its valuation. There is also the potential growth of the corporation’s profit which is estimated to be around nine percent this year,” the Chief Economist and Investment Strategist Manulife Asset Management Indonesia, Katarina Setiawan, said in a statement received here, Monday (16/9/2019).

Going forward, there are several catalysts for the stock market, including further interest rate cuts by Bank Indonesia, accelerated policy reforms by the government, improved data on economic activity, and corporate tax cuts, she stated.

Amidst the current low interest rates, Indonesian bonds are very attractive because they still provide high yields.

“The central bank’s commitment to safeguarding the Rupiah exchange rate and the bond market provides a positive sentiment for Indonesian bonds,” she said.

Turmoil and volatility in the financial markets are not uncommon, she said advising investors to always keep an eye on every development.

“Keep in mind that there are always opportunities in every condition, even amidst high global volatility. Do not be afraid to invest and adjust your investment portfolio, with targeted investment objectives and time frames,” she said. (INE). (cta)

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