Invest Islands https://invest-islands.com property investment service Wed, 19 Jun 2019 07:08:02 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.10 https://invest-islands.com/wp-content/uploads/2018/11/cropped-globe-invest-new-gold-32x32.png Invest Islands https://invest-islands.com 32 32 Paving the Road to Easy Foreign Investment in Indonesia https://invest-islands.com/paving-the-road-to-easy-foreign-investment-in-indonesia/ https://invest-islands.com/paving-the-road-to-easy-foreign-investment-in-indonesia/#respond Wed, 19 Jun 2019 07:08:02 +0000 https://invest-islands.com/?p=10475 All of the pieces are in place – economic momentum, a young population, increasing digital connectivity, rising disposable income. Indonesia is on course to become the world’s fourth-largest economy as early as 2030. Opportunity abounds, and following President Joko Widodo’s re-election in 2019 it’s going to get a whole lot easier for investors to make […]

The post Paving the Road to Easy Foreign Investment in Indonesia appeared first on Invest Islands.

]]>
All of the pieces are in place – economic momentum, a young population, increasing digital connectivity, rising disposable income. Indonesia is on course to become the world’s fourth-largest economy as early as 2030. Opportunity abounds, and following President Joko Widodo’s re-election in 2019 it’s going to get a whole lot easier for investors to make the most of these investment opportunities.

Historically, it has been difficult for foreigners to invest in Indonesia. The country’s top-heavy bureaucracy fostered arduous application and decision-making processes for even the simplest license or permit. Meanwhile, restrictions on foreign investment sometimes prohibited even the most determined investors from achieving their goals. The Negative Investment List, for instance, outlined several industries where foreign investment was partially or wholly restricted.

Despite restrictions, Indonesia had a reputation for welcoming foreign investment in the 1980s and early-1990s. Investment appetite was solid until the Asian Financial Crisis of 1997 sent foreign investors running for the hills. Indonesia took the hardest hit in due to weak regulatory and legal framework, massive foreign debt and an asset bubble, which in turn set the stage for the inward-looking and protectionist policies put in place prior to Joko Widodo administration.

Those policies kept foreign investors at bay and limited the country’s growth potential, but the election of President Joko Widodo – affectionately known as Jokowi – in 2014 ushered in an administration set on opening the country to foreign investment and driving growth.

Building an Investment-Friendly Environment

Since taking office in 2014, Jokowi has enacted several reforms to make Indonesia’s investment opportunities more attractive and accessible. The president released 16 economic reform packages covering hundreds of regulations from 160 ministries during his first term to combat bureaucracy.

The latest reforms launched in November 2018 included measures to permit increased ownership by foreign investors in 54 business sectors. Among them were several pockets of the manufacturing, technology and medical sectors. This is the first change to the Negative Investment List since 2016 and allows for full ownership in 25 sectors including transportation and telecommunications.

The reforms also included new tax holiday regulations aimed at increasing new capital investments in pioneer industries to stimulate economic growth. The reforms added the digital economy and agricultural sectors to the list of pioneer industries – an attempt to drive investment to areas that provide strategic value for the economy. Investments of IDR100-500 billion ($7.2-$36 billion) are eligible for a 50% tax holiday for five years, while larger investments can secure a 100% tax holiday for longer periods.

The addition of new Special Economic Zones (SEZs) – areas that are open to foreign investment and offer investors access to preferential regulatory infrastructure and taxation – is another area where Jokowi has made investing in Indonesia easier. Already in 2019, Indonesia has added three new SEZs which are expected to spur investment and create 120,000 jobs in East Kalimantan, North Sulawesi, and North Maluku by 2025.

To accelerate investment, the government launched the Online Single Submission (OSS) system in 2018. Designed to do away with lengthy bureaucratic processes, the system reduces the need to complete piles of paperwork that previously undermined the realization of direct investment. Before OSS, investors had to bounce back and forth between officials at several government institutions when securing permits and licenses. Now they can obtain several permits including business registration numbers and operational permits online within a matter of hours. The government plans to roll out an upgraded version of OSS to drive further synchronization and coordination between government ministries and institutions.

 

Read more on the opportunities for foreign investment in Indonesia 

 

Reaping the Benefits of Reform

Reforms have paid off. The major ratings agencies raised their ratings on the country’s sovereign debt to investment grade for the first time since the Asian Financial Crisis. Reforms saw Foreign Direct Investment (FDI) reach IDR393 trillion ($27.2 billion) in 2018, up 28% since Jokowi took office. The trend remains strong in 2019 with investment realization posting a 5.3% on-year increase in the first quarter.

Even the country’s financial markets are trending. Foreign investors pumped $986 million into Indonesian equities in January, the biggest monthly inflow in nearly two years. Bank Indonesia recorded a record $6.44 billion in capital inflows into government debt and equities in the first quarter leading up to the election in April.

Meanwhile, the world has taken note of government measures to streamline licensing and registering a business, improve access to credit, reduce the business start-up fees. Indonesia has rapidly advanced in the World Bank’s Ease of Doing Business rankings as a result, climbing 33 spots over the course of four years to secure 73rd place in 2019. Under the Vision Indonesia 2045 plan, the government aims to break into the top 10 by 2045.

To be sure, there’s still much work to be done. Yet Jokowi’s re-election in 2019 gives him the mandate to pursue tougher reforms outlined during his campaign, which bodes well for Indonesia’s economy and foreign investors who want to tap into the country’s rich potential. Looking ahead, Jokowi plans to tackle the country’s high current-account deficit, shutdown redundant government agencies and get rid of rules that hinder new investment. If Jokowi delivers on his promises, it will bring the country closer to its projected future as one of the world’s leading economies.

 

 


Article source: https://sponsored.bloomberg.com/news/sponsors/bkpm/bkpm-oss/?adv=18494&prx_t=j_oEAIsQ3AM0ANA

The post Paving the Road to Easy Foreign Investment in Indonesia appeared first on Invest Islands.

]]>
https://invest-islands.com/paving-the-road-to-easy-foreign-investment-in-indonesia/feed/ 0
Indonesian GDP in 2019 to grow faster at an expected 5.2 percent growth rate https://invest-islands.com/indonesia-gdp-in-2019-5-2-growth-rate/ https://invest-islands.com/indonesia-gdp-in-2019-5-2-growth-rate/#respond Tue, 11 Jun 2019 08:41:02 +0000 https://invest-islands.com/?p=10413 Coordinating Economic Minister Darmin Nasution has expressed his optimism that the economy will grow faster in the second quarter of 2019. “Our economy will grow faster, supported by the post-harvest season in April and [the peaceful end] to the elections,” he said on Wednesday during an Idul Fitri open house at his residence in Jakarta. The […]

The post Indonesian GDP in 2019 to grow faster at an expected 5.2 percent growth rate appeared first on Invest Islands.

]]>
Coordinating Economic Minister Darmin Nasution has expressed his optimism that the economy will grow faster in the second quarter of 2019.

“Our economy will grow faster, supported by the post-harvest season in April and [the peaceful end] to the elections,” he said on Wednesday during an Idul Fitri open house at his residence in Jakarta.

The minister expected that growth would range 5.1-5.2 percent, compared to 5.07 percent growth in the first quarter.

Indonesia is currently entertaining a tremendous dream of becoming an advanced country by 2045 – when the nation celebrates its 100th anniversary.

Indonesia S&P rating 2019 new upgrade
Indonesia GDP’s data

 

Darmin said that the completion of many infrastructure projects would also help accelerate gross domestic product (GDP) growth, in providing a solid foundation for attracting more investors.

 

Read more on the Economic environment in Indonesia

 

He added that last week, Standard & Poor’s upgraded Indonesia’s credit rating and the International Institute for Management Development (IMD) also raised the country’s competitiveness ranking, which would also positively affect the investment climate.

 

New positive S&P upgrade 2019 for indonesia

 

 

Indonesia jumped from 43rd in 2018 to 32nd in 2019 out of the 63 economies in the IMD ranking, due to better government efficiency and improvements in infrastructure and the business climate.

“The IMD [ranking] is good news amid the slow global economic growth,” noted Darmin. “Investment will arrive in the coming months as investors see that Indonesia is not only able to resist [the global slowdown], but is making constructive efforts [to improve its investment climate]

 

 


Article source: https://www.thejakartapost.com/news/2019/06/07/economy-chief-minister-expects-5-2-percent-gdp-growth-in-q2.html

The post Indonesian GDP in 2019 to grow faster at an expected 5.2 percent growth rate appeared first on Invest Islands.

]]>
https://invest-islands.com/indonesia-gdp-in-2019-5-2-growth-rate/feed/ 0
Fully loaded plane for the first Perth-Lombok direct flight by AirAsia https://invest-islands.com/full-plane-first-perth-lombok-direct-flight-by-airasia/ https://invest-islands.com/full-plane-first-perth-lombok-direct-flight-by-airasia/#respond Mon, 10 Jun 2019 04:45:09 +0000 https://invest-islands.com/?p=10399 AirAsia’s inaugural flight between Lombok and Perth touched down this evening 9th of June, kicking off a new four times weekly service between Australia and Indonesia. The undiscovered paradise of Lombok, which is being hailed as ‘the new Bali’ is set to become a thriving tourist destination for many Australians.       AirAsia Indonesia […]

The post Fully loaded plane for the first Perth-Lombok direct flight by AirAsia appeared first on Invest Islands.

]]>
AirAsia’s inaugural flight between Lombok and Perth touched down this evening 9th of June, kicking off a new four times weekly service between Australia and Indonesia.

The undiscovered paradise of Lombok, which is being hailed as ‘the new Bali’ is set to become a thriving tourist destination for many Australians.

 

Pengantap Bay – Lombok Island | © Invest Islands

 

 

AirAsia Indonesia CEO Dendy Kurniawan said, “We’re proud to further grow our connectivity between Australia and Indonesia and in doing so provide great value fares and more opportunities for Australians and Indonesians to fly.

“Today’s inaugural flight also realises the potential of our new Lombok hub, introducing healthy competition for the region and an additional option to much-loved Bali. Blissful beaches, top surfing and dive sites, and picturesque mountains are now easily accessible for Australians and I encourage those looking to book their next holiday to consider Lombok.

AirAsia will further boost local tourism on the island of Lombok with a number of post-earthquake recovery initiatives and new flights between Lombok and Kuala Lumpur, Singapore, Yogyakarta and Bali which are set to take off soon.

We look forward to working with the local tourism authorities and airport operators to make this new route a success.”

Perth Airport CEO Kevin Brown said the new service consolidates the AirAsia’s position in the Perth market by adding more than 74,000 seats annually.

“AirAsia has been in the vanguard of a low-cost carrier revolution that has delivered more affordable and accessible travel options for many Western Australians,” Mr Brown said.

“Western Australians have a great propensity for travel and Indonesia represents Perth Airport’s largest outbound market as it offers an easily accessible and attractive destination for travellers.

“This new service also provides an opportunity to grow the Indonesian inbound tourism market for Perth and Western Australia.

“Indonesia is Western Australia’s eighth largest visitor market and just last year, we welcomed 31,000 Indonesian visitors, injecting more than $56 million into the WA economy.”

Fares between Perth and Lombok start at $99 one way.

AirAsia operates 25 flights per week between Perth, Australia and Indonesia, which includes Bali, and Lombok.

 

 


Article source: https://newsroom.airasia.com/news/2019/6/9/perth-and-lombok-skies-officially-open

The post Fully loaded plane for the first Perth-Lombok direct flight by AirAsia appeared first on Invest Islands.

]]>
https://invest-islands.com/full-plane-first-perth-lombok-direct-flight-by-airasia/feed/ 0
Indonesia S&P rating 2019 | New upgrade as Jokowi’s victory fuels growth https://invest-islands.com/indonesia-sp-rating-2019-new-upgrade/ https://invest-islands.com/indonesia-sp-rating-2019-new-upgrade/#respond Fri, 07 Jun 2019 08:19:21 +0000 https://invest-islands.com/?p=10390 Indonesia won a sovereign rating upgrade from S&P Global Ratings for its “strong economic growth prospects” and prudent fiscal policy, brightened by the re-election of President Joko Widodo. The nation’s currency, stocks and bonds rallied. The rating was increased to BBB from BBB- and put on a stable outlook, S&P said in a statement on […]

The post Indonesia S&P rating 2019 | New upgrade as Jokowi’s victory fuels growth appeared first on Invest Islands.

]]>
Indonesia won a sovereign rating upgrade from S&P Global Ratings for its “strong economic growth prospects” and prudent fiscal policy, brightened by the re-election of President Joko Widodo. The nation’s currency, stocks and bonds rallied.

The rating was increased to BBB from BBB- and put on a stable outlook, S&P said in a statement on Friday. The long-term rating may be raised again if Indonesia’s external settings improve materially from their current levels, or if its fiscal settings improve over the next two years, it said.

 

Indonesia S&P rating 2019 new upgrade
Sound macroeconomic fundamentals are at the core of the new S&P

 

“We raised the ratings to reflect Indonesia’s strong economic growth prospects and supportive policy dynamics, which we expect to remain following the re-election of President Joko Widodo recently,” S&P said. “The sovereign ratings on Indonesia continue to be supported by the government’s relatively low debt and its moderate fiscal performance.”

The rating upgrade will be a shot in the arm for Widodo, known as Jokowi, who’s pledged to bolster growth and expand an ambitious infrastructure drive that’s estimated to cost more than US$400 billion in his second term. It puts Indonesia at the same level as Hungary and Uruguay, but a notch below the Philippines, which won an upgrade from S&P last month.

“The upgrade validates our view that Indonesia’s fundamentals are sound and reform prospects remain good after the elections,” said Euben Paracuelles, an economist at Nomura Holdings Inc. in Singapore. “The only element of surprise here was that S&P had a ‘stable’ outlook and hence they skipped changing to ‘positive’ outlook first before upgrading, so arguably this is an earlier-than-expected upgrade.”

Investors cheered the surprise rating upgrade with the rupiah jumping as much as 1.1 percent against the dollar, and set its biggest gain since Jan. 31. While the yield on benchmark 10-year government bonds fell 9 basis points to 7.96 percent, the benchmark stock index surged as much as 1.5 percent to the highest level since May 13.

Indonesia won investment grade rating from all the top rating companies for the first time in two decades in Jokowi’s first term as his government reined in the country’s fiscal deficit and accelerated efforts to increase its tax-to-GDP ratio even as it raised government spending to a record to support growth.

Southeast Asia’s largest economy has been growing at about 5 percent despite significant headwinds, including last year’s emerging market rout. The government is estimating growth next year of 5.3 to 5.6 percent even amid a deepening trade war between the U.S. and China and as global demand wanes. Finance Minister Sri Mulyani Indrawati trimmed the budget deficit to 1.79 percent of GDP last year, the smallest shortfall since 2012.

“The Indonesian economy is growing faster than global peers at a similar level of income. This reflects the government’s policy-making has been effective in promoting sustainable public finances and balanced economic growth,” S&P said.

The rating’s company said Jokowi’s election win and an increased majority will ensure policy continuity over the next five years. A court challenge of the presidential vote was unlikely to affect the long-term policy environment in Indonesia, S&P said.

 

 

 


Article source: https://www.thejakartapost.com/news/2019/05/31/indonesia-wins-sp-upgrade-as-jokowi-victory-fuels-growth-bets.html?src=mostviewed&pg=/

The post Indonesia S&P rating 2019 | New upgrade as Jokowi’s victory fuels growth appeared first on Invest Islands.

]]>
https://invest-islands.com/indonesia-sp-rating-2019-new-upgrade/feed/ 0
Joko Widodo pushing to allow Foreign-owned airlines to operate domestic flight routes https://invest-islands.com/joko-widodo-foreign-owned-airlines-operate-domestic-flight/ https://invest-islands.com/joko-widodo-foreign-owned-airlines-operate-domestic-flight/#respond Mon, 03 Jun 2019 08:27:53 +0000 https://invest-islands.com/?p=10387 Newly re-elected president Joko Widodo has announced his intention to allow foreign-owned airlines to operate domestic flight routes. The Indonesian Hotel and Restaurant Association (PHRI) has encouraged the Indonesian government to apply the open sky system. The open sky system will allow foreign airlines to conduct business in Indonesian airspace. Hariyadi Sukamdani, chairman of PHRI […]

The post Joko Widodo pushing to allow Foreign-owned airlines to operate domestic flight routes appeared first on Invest Islands.

]]>
Newly re-elected president Joko Widodo has announced his intention to allow foreign-owned airlines to operate domestic flight routes.

The Indonesian Hotel and Restaurant Association (PHRI) has encouraged the Indonesian government to apply the open sky system. The open sky system will allow foreign airlines to conduct business in Indonesian airspace.

Hariyadi Sukamdani, chairman of PHRI remarked that the skyrocketing prices recently experienced in the airline ticketing business were caused by the lack of competition in Indonesia’s aviation industry. As a solution, he suggests that the Indonesian government co-operate with foreign airlines, allowing them to expand their business into Indonesia.

 

Read more on the new flight promotions in Indonesia

 

“We had proposed to the government to allow regional airlines to enter Indonesia to add more domestic routes. It could be Jetstar, AirAsia, or other airlines, so this is certainly good news,” Hariyadi added.

The high prices of plane tickets have had a big effect on the tourism industry, especially travel agents and hotels. “With the spiking plane tickets, it certainly affects the hotel industry. It certainly decreases occupancy rates,” Hariyadi said.

He argued that with only two major players in Indonesia’s domestic airline industry, there is no fair competition, which leads to an unhealthy business cycle. He further explained that if one business increases its prices, its competitor would likely see an opportunity to also increase prices to gain higher profits, albeit lower than its counterpart.

 

Read more on the new Direct flights from Lombok to perth

 

President Jokowi had initially expressed plans to apply the open sky policy by allowing foreign airlines to operate in Indonesia. This will, in turn, provide better competition among airlines, leading to lower ticket prices. The president also said that the government has tried to reduce plane ticket prices by lowering the upper limit and increasing the lower limit prices. Jet fuel prices have also been reduced, they constituted about 40 per cent of most airline operational costs.

 

 


Article source: https://indonesiaexpat.biz/featured/jokowi-to-allow-foreign-airlines-in-domestic-routes-for-better-competition-cheaper-airfare/

The post Joko Widodo pushing to allow Foreign-owned airlines to operate domestic flight routes appeared first on Invest Islands.

]]>
https://invest-islands.com/joko-widodo-foreign-owned-airlines-operate-domestic-flight/feed/ 0
Indonesia’s economy is about to reach its Golden moment https://invest-islands.com/indonesias-economy-reach-golden-moment/ https://invest-islands.com/indonesias-economy-reach-golden-moment/#respond Wed, 29 May 2019 07:59:15 +0000 https://invest-islands.com/?p=10369 Indonesia, an emerging middle-income country, is already the world’s 16th largest economy by gross domestic product and the 10th strongest in terms of purchasing power parity, and a member of the G-20. A number of global consultancy firms and banks have reported that the world’s fourth most populous nation, which has charted impressive economic growth since overcoming […]

The post Indonesia’s economy is about to reach its Golden moment appeared first on Invest Islands.

]]>
Indonesia, an emerging middle-income country, is already the world’s 16th largest economy by gross domestic product and the 10th strongest in terms of purchasing power parity, and a member of the G-20.

A number of global consultancy firms and banks have reported that the world’s fourth most populous nation, which has charted impressive economic growth since overcoming the Asian financial crisis in 1997-1998, has yet to unleash its true economic potentials, given the country has a large young population, is rich in natural resources and is currently seeing a middle class boom – which has boosted the number of its affluent consumers.

Bloomberg reported in January, citing a report from Standard Chartered, that Indonesia could shake up the world’s gross domestic product rankings by breaking into the top five in 2030.

This is a much more optimistic prediction than the one made in a report by McKinsey in 2012, which said Indonesia may climb to become the world’s seventh largest economy in 11 years but only if the country could boost productivity and attract international investment.

President Joko “Jokowi” Widodo said earlier this month, as reported by Reuters, that his administration will go all out in boosting economic reforms in order to achieve the ambitious target of making Indonesia the world’s fifth biggest economy with a GDP of $7.3 trillion by 2045 – the 100th anniversary of its independence.

Jokowi had just won his re-election last week according to an official count by the General Elections Commission (KPU), although rival Prabowo Subianto is still disputing the election result.

Indonesia’s business community has said that after the presidential election is over, it is imperative that Indonesia’s leaders maintain political stability to boost investors’ confidence and get them to accelerate their investment plan in the country.

 

Read more on the state of affairs of Indonesia’s economic situation

 

indonesia's economy golden moment

 

Indonesia is currently showing stable macroeconomic indicators, which should encourage investors. Last year, despite heightened global uncertainty, Indonesia managed to post a growth of 5.17 percent.

Sumit Dutta, the president director of Bank HSBC Indonesia, the local subsidiary of the London-based lender, praised Indonesia’s stable macroeconomic indicators, saying they are “conducive for business [growth].” He said Indonesia will become a more strategic market for HSBC in the future.

Although the growth rate was only a tick above 2017’s 5.1 percent, the Coordinating Minister for Economic Affairs Darmin Nasution said many other countries in Asia were not able to post comparable growth amid global economic uncertainty.

Darmin was speaking in “The Golden Moment of Indonesia’s Economy” forum held by HSBC and Indonesian news site Katadata.co.id last month.

The event was attended by high-level government officials. Aside from Darmin, there were the Coordinating Minister for Maritime Affairs Luhut Pandjaitan and the chairman of the Financial Services Authority (OJK) Wimboh Santoso.

Others in attendance included Deputy Finance Minister Mardiasmo, former finance minister Muhammad Chatib Basri, chairman of the Chamber of Commerce and Industry (Kadin) Rosan P. Roeslani, chief executive and co-founder of Tokopedia William Tanudijaja and top executives from HSBC, including group manager Mukhtar Hussain and chief ASEAN economist Joseph Incalcaterra.

Darmin, a former central bank governor, said Indonesia had to bear the brunt of the global economic slowdown last year, but still managed to post excellent macroeconomics indicators.

These include cutting poverty rate by more than half compared to 1999 level, lower open unemployment rate, lower Gini ratio and a relatively low inflation rate.

indonesia's economy golden moment

indonesia's economy golden moment

 

 


Article source: https://jakartaglobe.id/context/can-indonesia-leverage-a-golden-moment-in-its-economy

The post Indonesia’s economy is about to reach its Golden moment appeared first on Invest Islands.

]]>
https://invest-islands.com/indonesias-economy-reach-golden-moment/feed/ 0
IFC sets aside $300m to invest in Indonesia’s tourism-related firms https://invest-islands.com/ifc-invest-in-indonesias-tourism-related-firms/ https://invest-islands.com/ifc-invest-in-indonesias-tourism-related-firms/#respond Mon, 27 May 2019 09:39:47 +0000 https://invest-islands.com/?p=10357 The International Finance Corporation or IFC, a member of the World Bank Group, has committed to invest up to $300 million in companies engaged in tourism-related sectors in Indonesia, a top executive told DEALSTREETASIA on Wednesday. The commitment figure is set for the fiscal year July 2019-June 2020. “We target to have $300 million for […]

The post IFC sets aside $300m to invest in Indonesia’s tourism-related firms appeared first on Invest Islands.

]]>
The International Finance Corporation or IFC, a member of the World Bank Group, has committed to invest up to $300 million in companies engaged in tourism-related sectors in Indonesia, a top executive told DEALSTREETASIA on Wednesday. The commitment figure is set for the fiscal year July 2019-June 2020.

“We target to have $300 million for our pipeline, which we want to invest in the companies. We cannot disclose the name of the companies yet, but they mostly operate to develop a tourism business in Indonesia,” IFC country manager for Indonesia, Malaysia, and Timor Leste Azzam Khan said.

IFC also approved a $10-million loan package for Singapore-headquartered boutique river cruise company Aqua Expeditions for its Indonesia expansion. Founded in 2007, Aqua Expeditions operates soft-adventure cruises in emerging market destinations. It currently operates two boats – cruising across Cambodian Mekong and Peruvian Amazon rivers. The company will use the debt package to add another boat, offering coastal luxury cruise service in the eastern part of Indonesia, such as in Lombok Island (Mandalika), Ambon (Maluku), Raja Ampat (Papua), Maumere (Flores), Komodo Island and Labuan Bajo (East Nusa Tenggara) or the so-called ‘ten new Balis’.

The Indonesian government has been actively promoting the ‘ten new Balis’ tourism programme to develop several destinations beyond the most popular tourist Island of Bali. Indonesian tourism could also potentially generate $20 billion in foreign exchange revenue throughout this year, according to the government estimates. Last year, the tourism sector contributed $16.1 billion in foreign exchange revenue.

 

invest in indonesia's tourism-related
10 New Bali Project | © Invest Islands

 

The 10 new Bali project:

Bali had dominated Indonesia’s tourism industry from as early as the 1900s when Dutch member of parliament, Herr H. Van Kol, arrived as one of its first foreign visitors. He even wrote a book about his experiences, dedicating many of its pages to the province.

However, it isn’t Bali’s unique charm alone that has made tourism in Indonesia a hit. Indonesia’s President Joko Widodo set clear benchmarks for the development of tourism, by designing and implementing a strategic and coordinated government plan and effort, coupled with relaxing visa and business restrictions. Since 2016, citizens from up to 169 countries could now enjoy free travel to the nation.

With this in place, the aim to drive growth in tourism was set in motion. At the same time, with the end of visa restriction and a weakened rupiah, Widodo’s goal to attract 20 million tourists by 2019 is not too far off the horizon.

Read more at: https://www.dealstreetasia.com/stories/ifc-indonesia-tourism-136796/

The post IFC sets aside $300m to invest in Indonesia’s tourism-related firms appeared first on Invest Islands.

]]>
https://invest-islands.com/ifc-invest-in-indonesias-tourism-related-firms/feed/ 0
Formula 1 in Lombok Mandalika could be the next great event awaiting for Indonesia https://invest-islands.com/formula-one-in-lombok-mandalika-event-indonesia/ https://invest-islands.com/formula-one-in-lombok-mandalika-event-indonesia/#respond Fri, 24 May 2019 07:59:10 +0000 https://invest-islands.com/?p=10353 Indonesia has attempted to obtain rights to host a Formula One race in Mandalika, West Nusa Tenggara province in 2021, an official said today. President-Director of Indonesian Tourism Development Corporation (ITDC) Abdulbar M. Mansoer made the statement after meeting with Indonesian President Joko Widodo at a palace situated at Bogor town, an outskirt city of […]

The post Formula 1 in Lombok Mandalika could be the next great event awaiting for Indonesia appeared first on Invest Islands.

]]>
Indonesia has attempted to obtain rights to host a Formula One race in Mandalika, West Nusa Tenggara province in 2021, an official said today.

President-Director of Indonesian Tourism Development Corporation (ITDC) Abdulbar M. Mansoer made the statement after meeting with Indonesian President Joko Widodo at a palace situated at Bogor town, an outskirt city of the country’s capital of Jakarta.

The race was expected to be held along with the MotoGP race, the director said.

“The president said that it would be more efficient for the Indonesian country branding if Indonesia also staged a Formula One race, which is a world-class, prestigious sporting event,” he said on Wednesday night.

Indonesia won a contract to host MotoGP in 3 years, commencing from 2021, beating out Brazil, which also bid to host the sports event.

Indonesia will construct a MotoGP street circuit in West Nusa Tenggara province this year.

 

Read more on the new Lombok MotoGP circuit 

 

The Indonesian government has built roads, an airport, a hospital, and other infrastructure facilities ahead of the MotoGP race.

The street circuit in Mandalika will have a 4.32 kilometers track with 18 turns in 106 hectares of land.

 

Article Source: http://www.xinhuanet.com/english/2019-05/23/c_138083644.htm

 

The new Indonesian MotoGP circuit in Lombok round in Lombok 2021

Indonesia will host a world-class motor racing event for the first time after more than two decades as the country has secured a deal with Dorna Sports’ MotoGP for a slot in the 2021 season.

The country had held two consecutive MotoGP stints at the Sentul International Circuit in Bogor, West Java, in 1996 and 1997. Legend Valentino Rossi of Italy won Indonesia’s 125 cc title in 1997.

In developing Mandalika’s street circuit complex, ITDC is collaborating with France’s Vinci Construction Grand Projects, which also acts as the main investor for the project.

The US$1-billion deal with Vinci was signed on Aug. 8 last year and foresees 15 years of development.

Aside from the circuit itself, Vinci plans to build supporting facilities from hotels and a shopping mall to a hospital and apartment buildings on 131 hectares of land within the 1,175-ha special economic zone. The street circuit venue is set to accommodate up to 150,000 spectators.

 

The post Formula 1 in Lombok Mandalika could be the next great event awaiting for Indonesia appeared first on Invest Islands.

]]>
https://invest-islands.com/formula-one-in-lombok-mandalika-event-indonesia/feed/ 0
Invest Islands proud sponsor of Discovery Bay FC at the 2019 Soccer 7ns in Hong Kong https://invest-islands.com/10466-2/ https://invest-islands.com/10466-2/#respond Thu, 23 May 2019 05:57:14 +0000 https://invest-islands.com/?p=10466 Invest Islands have been a proud sponsor of Discovery Bay Football Club at the 2019 Soccer 7ns in Hong Kong held from the 17th to the 19th of May.   TDW Discovery Bay played well in the 2019 Hong Kong Football Club Citi Soccer Sevens, but ultimately lost the final for the Masters plate competition […]

The post Invest Islands proud sponsor of Discovery Bay FC at the 2019 Soccer 7ns in Hong Kong appeared first on Invest Islands.

]]>
Invest Islands have been a proud sponsor of Discovery Bay Football Club at the 2019 Soccer 7ns in Hong Kong held from the 17th to the 19th of May.

The press conference of HKFC Citi Soccer Sevens 2019 at Hong Kong Football Club on 17 April 2019, in Hong Kong, Hong Kong. Photo by Ike Li / Eurasia Sport Images

 

TDW Discovery Bay played well in the 2019 Hong Kong Football Club Citi Soccer Sevens, but ultimately lost the final for the Masters plate competition to Eleven FC. This year’s Soccer Sevens was played over three days from May 17 to 19, with 10 teams competing in the Masters division. The Wallsend Boys Club were the 2019 Masters Cup Champions.

 

HKFC Citi Soccer Sevens 2019. The Sportsman’s Dinner – Dean Saunders at Hong Kong Football Club on May 16, 2019 in Hong Kong. (Photo by Eurasia Sport Images)

 

TDW Discovery Bay’s first game on May 17 ended in a draw with Singapore Cricket Club 2-2. In their second game, they went on to beat HKFC Chairman’s Select 2 – 0. On May 18 TDW Discovery Bay beat Nottingham Forrest Mobsters 1 – 0, but lost against Citi All Stars 1 – 0, resulting in them being placed third in their group on a single goal difference. Consequently, they advanced to the Plate semi-finals.

On May 19, TDW Discovery Bay beat KCC Veterans 2 – 0 in the semi-final and then played Eleven FC in the final of the plate competition, drawing 1 -1 in regulation time but losing 8 – 7 in a penalty shoot-out.

TDW Discovery Bay (in blue) vs SCC Masters (in yellow)during the Masters’ Group B match of the Hong Kong Citi Soccer Sevens 2019 at the Hong Kong Football Club on 17 May 2019 in Hong Kong, China. Photo by Eurasia Sport Images

 

“TDW Discovery Bay was so close to making another great cup run,” says TDW Discovery Bay manager and long-time DBFC player Gary Rollinson. “They only lost one of their six games in regulation time and the goals they conceded were due to their own silly mistakes rather than decisive play from the opposition. With only four ex-professional players in their squad of eleven, TDW Discovery Bay was equal to teams full of ex-professional players and they will be back next year with greater determination!”

 


Article source: http://www.arounddb.com/news/tdw-discovery-bay-at-the-2019-hkfc-citi-soccer-sevens/

The post Invest Islands proud sponsor of Discovery Bay FC at the 2019 Soccer 7ns in Hong Kong appeared first on Invest Islands.

]]>
https://invest-islands.com/10466-2/feed/ 0
Indonesia election: Joko Widodo re-elected as president https://invest-islands.com/indonesia-election-joko-widodo-re-elected-as-president/ https://invest-islands.com/indonesia-election-joko-widodo-re-elected-as-president/#respond Wed, 22 May 2019 04:21:28 +0000 https://invest-islands.com/?p=10347 Joko Widodo has been re-elected as Indonesia’s president after last month’s vote, beating former general Prabowo Subianto. The result was released a day ahead of schedule in the early hours of Tuesday, amid fears of unrest. Around 32,000 security personnel were deployed across the capital Jakarta, AFP news agency reports. Mr Prabowo rejected the result […]

The post Indonesia election: Joko Widodo re-elected as president appeared first on Invest Islands.

]]>
Joko Widodo has been re-elected as Indonesia’s president after last month’s vote, beating former general Prabowo Subianto.

The result was released a day ahead of schedule in the early hours of Tuesday, amid fears of unrest.

Around 32,000 security personnel were deployed across the capital Jakarta, AFP news agency reports.

Mr Prabowo rejected the result and said he would pursue “legal avenues”, but urged his supporters to stay calm.

Ahead of the final tally he had alleged “widespread cheating” and warned of potential street protests. In 2014 Mr Prabowo challenged an election defeat by Mr Widodo in Indonesia’s constitutional court, but lost.

The latest vote followed a bitter campaign in which religion played a key role, but independent observers have said it was free and fair.

 

Read more on Indonesia’s political environment

 

Mr Widodo won 55.5% of the vote to Mr Prabowo’s 44.5%, the election commission said. More than 192 million people were eligible to vote in the 17 April poll, choosing 20,000 local and national lawmakers.

Azis Subekti, a witness from the retired general’s campaign team, refused to sign the results.

“We won’t give up in the face of this injustice, cheating, lies, and these actions against democracy,” he said.

 

Read more on Jokowi’s vision for Indonesia

 

What’s the situation on the ground?

Authorities have appealed for calm and increased security measures in a bid to manage tensions.

Security personnel have been stationed in front of the election commission’s office, backed by razor wire and water cannon.

On Friday police said they had arrested dozens of suspected terrorists with links to Islamic State (IS), some of whom had allegedly planned to bomb political rallies when the vote result was released.

The same day, the US embassy issued a travel warning advising its citizens in Indonesia to avoid demonstrations and political gatherings.

 

What were the election issues?

The two rival election campaigns focused on the economy, infrastructure and corruption.

Religion was also a core issue. Though Indonesia has no official state religion and the right to practise other faiths is enshrined in the constitution, some 80% of the country is Muslim.

Conservative Muslim groups have grown increasingly vocal in recent years, and observers say the presidential candidates both sought to tout their Islamic credentials.

 

Mr Widodo, himself a religious moderate, picked powerful cleric Ma’ruf Amin as his running mate, while Mr Prabowo promised to protect Islamic leaders and increase funding for religious schools.

In 2016, Jakarta’s Chinese-Christian governor Basuki Tjahaja Purnama – known as Ahok – was accused by hardliners of blasphemy against Islam. After mass rallies in the streets, he was imprisoned for two years.

Though 80% of the country is Muslim, Indonesia has no official state religion and the right to practise other faiths is enshrined in the constitution.

 

Who is the re-elected president?

Joko Widodo has been president since 2014 when he also beat Mr Prabowo in a hotly-contested vote.

The 57-year old comes from humble beginnings and has focused his campaigns very much around his image as a “man of the people”.

He first came to international prominence by becoming governor of Jakarta in 2012.

Under his presidency, Indonesia’s economy has grown steadily.

Yet he has disappointed some supporters by abandoning campaign promises to resolve human rights violations. He has also courted massive Chinese infrastructure investment, which some in the country view as controversial.

His political rival, Mr Prabowo, 67, is closely associated with Indonesia’s traditional political elite.

He was previously married to the daughter of former dictator General Suharto, who ruled Indonesia with an iron fist for 30 years.

Mr Prabowo has been accused of complicity in human rights abuses committed under Gen Suharto, but has maintained his innocence.

Despite his background, during the campaign, he sought to distance himself from the political class and railed against the “evil elites in Jakarta”. He promised to review all Chinese investment projects in Indonesia.

The post Indonesia election: Joko Widodo re-elected as president appeared first on Invest Islands.

]]>
https://invest-islands.com/indonesia-election-joko-widodo-re-elected-as-president/feed/ 0