• Tax Revenue Target Indonesia 2017: Government Eyes 16.8% Growth

    The government of Indonesia is confident that it will collect IDR 1,498.9 trillion (approx. USD $112.7 billion) in tax revenue in 2017, up 16.8 percent from tax revenue realization of IDR 1,283.6 trillion in 2016. Meanwhile, in its latest Indonesia Economic Quarterly, released earlier this week, the World Bank stated that the 2017 State Budget of Indonesia is a more realistic one (compared to tax revenue targets in recent years). However, it emphasized further tax administration and policy reforms are required to meet the new target and to further improve fiscal policy credibility.

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  • World Bank Releases January 2017 Indonesia Economic Quarterly

    The World Bank released the January 2017 edition of its Indonesia Economic Quarterly (IEQ), titled "Sustaining Reform Momentum", on Tuesday (17/01). In this report the Washington-based institution says Indonesia’s reforms to fiscal policy and the investment climate are expected to boost the local economy. Therefore, the World Bank maintains its economic growth rate for Indonesia in 2017 at 5.3 percent (y/y). However, it also emphasizes that Indonesia - like the rest of the international community - is also plagued by uncertainty in global economic policy and global financial market volatility.

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  • Nusantara Tropical Farm, Largest Producer of Bananas in Indonesia

    Nusantara Tropical Farm, a Sumatra-based producer and exporter of tropical fruit in Indonesia, targets to export 1.8 million boxes of Cavendish bananas in 2017. This would be a 58 percent year-on-year (y/y) growth compared to 1.14 million boxes of exported Cavendish bananas (equal to 15,400 tons) in the preceding year. Nusantara Tropical Farm, the largest grower of Cavendish bananas in Indonesia, is part of the Gunung Sewu Group. This group operates diversified businesses in insurance, food, real estate, consumer and mining.

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  • Automotive: Toyota's Investment Realization in Indonesia at 70%

    Automotive manufacturer Toyota Motor Corporation already realized 70 percent of its total of IDR 20 trillion (approx. USD $15 billion) worth of investment commitments in Indonesia. Japan-based Toyota will materialize its investment commitments gradually up to 2019. Warih Andang Tjahjono, Vice President Director at Toyota Motor Manufacturing Indonesia (TMMI), said his company invested IDR 10 trillion in late-2016, both in the form of a capital injection and for additional production facilities.

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