Skip to main content

Indonesian government steps up support for tech startups

From AsiaOne
By: Nikkei Asian Review
March 5, 2015

Rudiantara, Indonesia's new minister of communications and information technology, unveiled plans in February for a $1 billion national fund for tech startups. The ministry is trying to convince several domestic conglomerates to pledge this amount by the end of the year. Afterward, it plans to invite private venture capital firms to help manage the funds.

The minister has also promised to reduce the red tape companies have to overcome when they apply for business permits and licenses.

Detail story, visit here

Comments

Popular posts from this blog

Goverment to Build New Port in Subang or Indramayu

From The Jakarta Post
April 2, 2015

The government has changed its plan to build a new port in Cilamaya and is seeking a better location in Subang or Indramayu, West Java.

Vice President Jusuf Kalla said the government needed to build a new port but it would not be in Cilamaya.

The Vice President, who visited Cilamaya with several ministers, including Coordinating Maritime Affairs Minister Indroyono Susilo and Transportation Minister Ignasius Jonan on Thursday, said the new port would be built east of Cilamaya, either in Subang or Indramayu.

Kalla said the main reason to move the new port’s location to another regency was because waters in the area were already crowded by offshore mining activities and oil tankers transporting crude oil to Jakarta and other cities.

The government has allocated Rp 34.5 trillion (US$2.6 billion) to construct a new port, as Tanjung Priok Port is deemed too crowded.

For detailed story, visit here
The government has changed its plan to build a new port in Ci…

POSCO to lift Indonesia investment to $11 billion over next 5 years: Jakarta

From Reuters
Oct 19, 2012


South Korean steelmaker POSCO will almost double its investment in Indonesia to $11 billion over the next five years, from $6 billion currently, Chief Economics Minister Hatta Rajasa said on Friday.
The world's fourth-biggest steelmaker, already has a multi-billion dollar joint venture with Indonesian state-owned PT Krakatau Steel, the country's biggest steel producer.
Earlier this year, the South Korean firm's affiliate POSCO Engineering & Construction, formed a consortium to build two 300-megawatt power plants on Indonesia's Sumatra island, worth around $1 billion.
A POSCO spokesman in Seoul said the South Korean firm has yet to make detailed investment commitments in Indonesia, and noted other partners would jointly invest in any projects.
Foreign direct investment in Indonesia stayed strong in the second quarter, showing the G20 member remained a magnet in a troubled global economy and that changes in mining ownership rules are not cutting i…

March Inflation Limits Bank Indonesia’s Room to Cut Interest Rates

From The Jakarta Globe
April 1, 2015

Inflation increased slightly in March, data from the Central Statistics Agency, or BPS, showed on Wednesday, as prices were pushed up by higher prices for fuel and rice and continued weakening of the rupiah.

Analysts said stronger inflation would limit Indonesia’s central bank’s ability to further reduce its key interest rate. The BPS announced March’s headline inflation rate was 6.38 percent, compared with 6.29 percent a month earlier.

“This is broadly in line with our forecast and the consensus median,” said Dian Ayu Yustina, a Jakarta-based economist with Bank Danamon Indonesia.

The administration of President Joko Widodo has reformed the fuel price policy to a regulated price that can fluctuate according to the global oil price and the exchange rate.
Looking forward to the rest of the year, analysts Wai Ho Leong and Angela Hsieh from Barclays said the path of inflation was still benign.

They projected inflation to average 6.5 percent …