Indonesian Coordinating Minister for Economic Affiars Darmin Nasution has announced the eleventh economic policy package, facilitating the country’s import and export activities.
Indonesian Coordinating Minister for Economic Affiars Darmin Nasution (Source: straitstimes.com)
Jakarta (VNA) - Ind♐onesian Coordinating Minister for Economi🍒c Affiars Darmin Nasution has announced the eleventh economic policy package, facilitating the country’s import and export activities.
Accordingly, a Single Risk Management (SRM) will be formed to ensure a stable and effective business environment and reduce logistic costs related to import- export activities. The agency is responsible for granting import and export licenses.
Presently, goods assessment standard involves 18 ministries and government institutions and the new SRM is expected to reduce dwelling time from 4.7 days to 3.5 days in this year and 3 days in 2017.
Initially, the SRM model will be applied to imported pharmaceutical materials in an attempt to boost the domestic pharmaceutical manufacturing sector. The government will allow foreign firms to hold full ownership.
Indonesia has about 200 companies, monitoring 76 percent of the pharmaceutical sector, but the country still has to import 90 percent of pharmaceutical materials.
Besides, the government will establish a real estate fund to increase effectiveness in long term investment supply, meeting the national target for 2015-2018.-VNA
Indonesia has the opportunity to replace Thailand as the automotive production hub in ASEAN, Indonesian news agency Antara quoted Ipsos Business Consulting Firm as saying.
Standard and Poor’s (S&P) senior director and lead analyst for corporate ratings in Indonesia and Malaysia, Xavier Jean, has noted that his firm’s corporate clients are a lot more optimistic recently.
At least 2,000 foreign enterprises in Indonesia committed tax fraud in the past decade by announcing that they are suffering from losses, according to the Ministry of Finance.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Indonesian Coordinating Minister for Economic Affiars Darmin Nasution (Source: straitstimes.com)
