ECONOMY

According to Joko, the European Union Parliament resolution only applies to palm oil. Despite this, there are many types of vegetable oil in Europe, which also contributes to deforestation.

The Indonesia Petroleum Association (IPA) views the national oil and gas industry is in crisis. Aside declining exploration activities, investments in the sector is dwindling.

The Energy and Mineral Resources Minister has reported that the 35,000 MW power plant development program has operated power plants with 743 MW capacity until April 2017.

The government and PT Freeport Indonesia holds the second discussion to resolve four issues between both parties

The agreement between ASEAN countries to open the connectivity between neighboring countries started since 2015.

The Minister of Energy and Mineral Resources, Ignasius Jonan, has announced his plan to offer Total E&P Indonesie and Inpex Corporation participating interest in the Mahakam Block up to 39 percent, igniting criticism from a number of parties.

On Friday (21/4), President Joko Widodo, or Jokowi, has announced his strategies to bolster economic equality in the country. In the opening of the Moslems’ Economic Congress (KEU) 2017 at Hotel Grand Sahid, Jakarta, Saturday (22/4).

The authority dispute between the Business Arrangements (BP) of Batam and the Riau Archipelago Provincial Government is ruining the business climate of Batam. The dispute has been happening for years, reducing investments on the island.

The palm oil trade war between Indonesia and Europe continues with the European Parliament voting on a resolution that Indonesian palm oil are highly related to human rights issues, corruption, child labor and abuse against the rights of customary communities. Europe has also emphasized that Indonesia’s palm oil is causing major deforestation.

Freeport Indonesia  is still not showing any intention to build a smelter as the government requires.

Finally, after nine years, the toll road connecting Tanjung Priok port is completed. On Saturday (15/4), President Joko Widodo inaugurated the 11.4 kilometer (km) road, saying in his speech that the road will accelerate transport of containers to and from Tanjung Priok.

King Salman bin Abdulaziz Al Saud’s 13-day visit to Indonesia – the first in 47 years after King Faisal in 1970 – brought high hopes among Indonesians that Saudi Arabia was bringing huge investments with him, especially as the King brought 10 ministers ad 25 princes with him.