Japan Presiden Shinzo Abe (left) shakes hand with President Joko Widodo - Photo by President Office

JAKARTA (TheInsiderStories) – Good morning! Indonesian government paid a visit to Japan to enhance bilateral cooperation in the economic sector, including increasing investment in the chemical industry to steel.

During a four-day visit, Industry Minister Airlangga Hartarto met directly with a number of directors from Japanese companies such as Sojitz Corporation, Nippon Steel, Fujitrans and Keidanren business associations.

Previously, Sojitz Corporation has expressed interest in building a second methanol plant in Indonesia. While Sojitz Group will invest in various sectors such as automotive, energy and mineral resources, chemicals, food raw materials, agriculture, forest products, consumer goods, and industrial estates.

With Nippon Steel, the government will discuss the steel industry, as the government targets to accelerate the construction of a steel industry cluster in Cilegon, Banten, with a production target of 10 million tons of steel by 2025.

In addition, Hartarto also met with the board of directors of Fujitrans Corporation, which offers services in the field of loading and unloading, warehousing, customs, domestic shipping, sea transportation, insurance agents against losses, handling shipping, packaging, and others.

While, Bank Indonesia (BI) and a number of ministries, regional governments, and the Financial Services Authority held a coordination meeting related to the use of finger print as a ‘unique identity’ to disburse Social Assistance and subsidies to Beneficiary Families.

To support this policy, BI is ready to support infrastructure in locations that have been considered as blank spots, namely by providing EDC machines offline or using VSAT technology.

From the global, Iran insists that it currently does not see the need for mediation with the United States, because currently, the Islamic Republic does not believe in mediation, even though the US has opened the door to dialogue with the Islamic state.

Iran is locked in a dispute with the US which has increased its military presence in the Middle East in response to alleged threats from Iran.

Washington has deployed a group of B-52 aircraft carriers and bombers to the region to show off, a recent surge since President Donald Trump withdrew from a 2015 agreement on Iran’s nuclear program and re-imposed sanctions.

In other Asian countries, Asian Development Bank (ADB) President Takehiko Nakao ended a three-days visit to China discussing macroeconomic policies, structural reforms, sustainable development priorities, and its partnership with China.

Nakao noted that maintaining macroeconomic stability is the key to sustainable and inclusive growth in the face of uncertainty about global trade and the economy and the risks of corporate and regional government debt.

China became a member of ADB in 1986 and until 2018, ADB provided nearly $39 billion in loans to China, consisting of $35 billion for the public sector and $4 billion for the private sector.

Then, the giant e-commerce company Alibaba Group Holding Ltd. is considering the second Hong Kong initial public offering with a target of $20 billion. Previously, Alibaba had floored the New York Stock Exchange in 2014 and raised $25 billion in funds, with now reaching a market capitalization of $400 billion.

Finally, Head of Presidential Staff Moeldoko said the security of President Joko Widodo was stepped up as the plan to assassinate four state officials and the leader of a survey institution that won the pair Widodo-Amin in the mass rally on May 22.

According to Moeldoko, efforts to increase security are an emergency order so that the country’s highest leader runs state and government activities safely and comfortably.

Indonesian Police Chief General Tito Karnavian said there were four national figures who were targeted for murder. They are Coordinating Minister for Political and Legal Affairs Wiranto, Maritime Coordinating Minister Luhut Binsar Pandjaitan, Head of the State Intelligence Agency Budi Gunawan and President’s Special Staff for Intelligence and Security Gories Mere.

Yesterday, Rupiah against US Dollar continued strengthening by 0.47 percent to 14,387.

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia