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Kapital News Highlight - October 19

Sunday, October 21, 2018

• The 2018 IMF and World Bank meetings in Nusa Dua, Bali have ended on Friday last week (12/10) on a high note for Indonesia for the successful events. Indonesia also managed to secure a wide range of deals in infrastructure investment, monetary cooperation, and disaster relief and recovery. Meanwhile, the IMF and World Bank meetings held for a week have helped the economic condition of Bali recover from a recent slowdown. In his speech, President Joko Widodo called on countries to ensure the economic growth is inclusive for all, and the normalization of policy settings by major economies is well communicated and implemented in a timely manner with minimal adverse spillovers. During this event, Indonesia also managed to secure loan facilities of US$1 billion each from the World Bank and Asian Development Bank for disaster mitigation and recovery in Central Sulawesi and Lombok. (Jakarta Globe)


• According to World Economic Forum in the Global Competitiveness Report, Indonesia has moved up in the global competitiveness ranking due to the improvements in the institutions, infrastructure, technology, business climate, and the economic stability. This year, Indonesia moved up two levels from 47th to 45th out of 140 countries. This year's report introduced a new set of measurement, called as Global Competitiveness Index 4.0, which measures the challenges to productivity countries face amid the rising automation and digital connectivity across all industries known as the Fourth Industrial Revolution. Moreover, the report highlights Indonesia's connectedness because of its rapid adoption and communication technology. From the report, it is also known that most adults in Indonesia own mobile phones. (Jakarta Globe)


• The Ministry of Industry is refining the roadmap for the development of the Muslim fashion industry in Indonesia. The roadmap is an effort from the Indonesian government to make Indonesia as the world Muslim fashion mecca in 2020. This strategic move is carried out by involving the government, businessmen, academics, and the communities. The Director General of Small and Medium Industries (IKM) Gati Wibaningsih said that the roadmap would later become a reference for all parties in enhancing the competitiveness of the national Muslim fashion industry. The development of Muslim fashion industry in Indonesia is also very potential along with the increasing number of Muslim population in the country which is projected to reach over 238,8 million people or 88% of the total population in 2030. (Kontan)


• The largest and most comprehensive infrastructure exhibition event in Indonesia, Indonesia Infrastructure Week (IIW) 2018 is ready to be held at the Jakarta International Expo (JIEXPO) from 31 October to 2 November 2018. This event aims to support national infrastructure development that is currently being promoted by the Indonesian government. IIW is also projected to carry around 16.000 visitors from professionals in the energy, railways, ports, utilities, water and sewage treatment sectors, construction, and transportation. During the event, all main actors in the supply chain of the Indonesian infrastructure industry will meet to explore new opportunities, exchange ideas, build connections, and showcase their superior products and services. (Antara News)


• The new Mexican government is keen to invite Indonesia and Asia Oceania countries to take part in the development of a harbor project in Southern Mexico. This project will become one of the main focus of the AMLO government over the next six years. Indonesian Ambassador to Mexico Yusra Khan made a statement in connection with the signing of a Memorandum of Understanding (MoU) between Indonesia Eximbank and Bancomext that is expected to increase the involvement of Indonesian entrepreneurs in Mexico. The signing of the MoU between the two companies is also an effort to boost Indonesia-Mexico's economic and trade cooperation, especially to drive Indonesia's trade surplus with Mexico. Furthermore, it is hoped that PT INKA, PT Barata Indonesia, and other strategic industries in Indonesia maybe involved in port development project in Southern Mexico. (Antara News)



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