(Left to Right) Vice President Special Team Sofyan Wanandi, Coordinating Minister of Economy Darmin Nasution, Minister of Finance Sri Mulyani and Minister of Communication and Informatics Rudiantara during meeting (10 Jan. 2018)

JAKARTA (TheInsiderStories) — Good morning! The National Economic and Industry Committee urged President Joko Widodo put new faces on the economic team for the next five years to pursue a 7 percent economic growth target. In the first period of Widodo’ leadership, the country’ economic growth only moved in the range of 5 percent.

The committee stated that for the past five years the economic growth target had not been achieved because the government had wrongly implemented the strategy. The organization also sees the Indonesian economy relying on household consumption.

While, Bank Indonesia is pushing the data transparency which was only owned by a company or institution through Open Programming Interface. This application is to make the data transparency between banking and financial technology happened safely. Meanwhile, BI makes sure the data managing securely through the using of digital identity, cloud computing and legal based.

Then, Indonesian government finally reach agreement with Japan’ Inpex Corp., for Masela gas block in Maluku province, after two decades of discussions. Oil and Gas Upstream Business Activities Special Task Force chief Dwi Soetjipto and CEO of Inpex Corporation Takayuki Ueda signed minutes of meeting which will be followed by agreement signing in G20 meeting in Tokyo, June.

Investment for Masela block development will be around US$20 billion, with both parties are going to have profit sharing. Masela block has potency of 9.5 million tonnes LNG annually and 150 MMSCF per day capacities around Arafuru Sea.

From global, United States US isn’t ready to make a trade deal with China, President Donald Trump said while on a state visit to Japan. His comments came after trade talks between the two countries stalled earlier this month. Each side has since blamed the other, and Trump has threatened billions more in tariffs.

French government confirmed merger of Renault and Fiat Chrysler. Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world’ third-biggest automaker. The US$35 billion merger would rank third in the global auto industry behind Japan’s Toyota and Germany’s Volkswagen.

Yesterday, Rupiah against US Dollar continued strengthening by 0.62 percent to 14,455, with Rp460.24 billion ($31.96 million) foreign inflow recorded in stocks market.

US$1: Rp14,300

May you have a profitable day!

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