22 Commodities Now Part of Strategic Minerals List
The Ministry of Energy and Mineral Resources (ESDM) has issued Ministerial Decree 69.K/MB.01/MEM.B/2024, outlining the classification of strategic minerals. Signed on April 1, the decree identifies 22 mineral commodities, including nickel, tin, rare earth metals, copper and zirconium.
The aim is to enhance Indonesia's competitiveness, both domestically and globally, by promoting local mineral processing for strategic industrial development, with ESDM minister Arifin Tasrif highlighting the importance of strategic minerals as vital raw materials for optimizing domestic processing. The initiative seeks to strengthen Indonesia's trade competitiveness, increase state revenue and boost the national economy.
The ministry has outlined specific criteria to designate minerals as strategic, including minerals serving as essential raw materials for key industries such as pharmaceuticals, cosmetics, healthcare devices, electric vehicles, industrial services, electronics, information and communications technology, basic metals and non-metallic mineral extraction for defense purposes.
Additionally, minerals with the potential to dominate global reserves, those making substantial contributions to state revenue, and those significantly bolstering a nation's foreign exchange reserves are also identified as strategic. Minerals that are extensively utilized in strategic industries are also considered in the classification process.
Related Links:
- https://ekonomi.bisnis.com/read/20240404/44/1755503/tok-22-komoditas-ini-masuk-daftar-mineral-strategis-ada-nikel-hingga-timah
- https://www.cnnindonesia.com/ekonomi/20240404140338-85-1082818/esdm-tetapkan-22-komoditas-jadi-mineral-strategis-ri-ini-daftarnya
|
New AmCham MD Committed to Strengthening US-Indonesia Trade Relations
AmCham Indonesia’s new Managing Director Lydia Ruddy is committed to using her expertise to strengthen US-Indonesia trade ties, focusing on mutual success and partnership building. Chair of AmCham's Board of Governors Scott Hanna said he believes her broad experience and dedication to advance business interest are key qualities for leading AmCham Indonesia’s efforts in promoting bilateral trade relations.
Scott also said she aims to drive impactful initiatives that support the growth and development of trade between the two nations. This appointment marks a significant moment for AmCham Indonesia, signaling a renewed focus on mutual success and meaningful partnerships under her leadership.
"I am honored by this appointment, and I hope to utilize my experience and expertise to drive impactful initiatives that support the growth and development of bilateral trade between the United States and Indonesia," she said.
Lydia holds a Juris Doctor (J.D.) from Georgetown University and pursued advanced studies in Urban Planning and Geography (MUP, ABD) at the University of Washington. She is known for leadership in law, real estate, land conservation and international relations. Prior to joining us, she was Special Advisor to the President for US-ASEAN affairs and Communications Director at the Economic Research Institute for ASEAN and East Asia (ERIA). She has also contributed to the Indonesian Chamber of Commerce and Industry (KADIN) and Save the Children UK.
Related Links:
- https://www.antaranews.com/berita/4043391/dirut-baru-amcham-indonesia-bidik-penguatan-hubungan-dagang-ri-as
- https://www.suara.com/pressrelease/2024/04/04/152808/amcham-indonesia-punya-direktur-utama-baru-berkomitmen-perkuat-hubungan-perdagangan-as-indonesia
Breakfasting Forum: Accelerating Toward Mandatory Halal Certification
Issues on mandatory halal certification were hot on the agenda during the AmCham Indonesia Food and Agriculture Committee Breakfasting Forum, held on April 3.
The forum opened with a panel discussion consisting of Agus Heryana, Deputy Director of Trade Dispute and Intellectual Property at the Ministry of Foreign Affairs; Nina Sutrisno, Coordinator of Halal Product Assurance Cooperation at Halal Product Assurance Organizing Agency (BPJPH); and Andar Hermawan, Head of Subdivision of Administration for the Halal Industry Empowerment Center at the Ministry of Industry.
Key topics covered included efforts to accelerate cooperation with foreign halal certification bodies (FHCBs) – noting the upcoming deadline in October this year for food and beverage products distributed in the country – as well as promotion of Indonesia’s halal products in the international market and ways businesses can support the government in such efforts.
During both the panel and Q&A sessions, discussions were fruitful as updates and challenges on halal certification preparation were comprehensively conveyed from the perspective of the government and, most importantly, AmCham members. The meeting concluded with the government officials expressing their need for support from industry to ensure the success of the halal certification implementation.
AmCham Indonesia IP Committee Kick-Off Meeting
Parallel imports, the Patent Law, the customs recordal system, and other issues on intellectual property (IP) enforcement were the main topics discussed in the first AmCham Indonesia IP committee meeting of the year, held virtually on March 19.
The discussion kicked-off with an update of advocacy efforts carried out in 2023, including past engagements with the Directorate General of Intellectual Property (DGIP) and other stakeholders. Member companies, representing many different sectors such as manufacturing, pharmaceuticals and information and communications technology (ICT) shared their concerns on specific industry issues and strategized advocacy efforts, highlighting the need for a stronger IP landscape in the country.
The committee also discussed future advocacy plans and settled on several action plans. AmCham Indonesia will continue monitoring priority issues and engage with relevant stakeholders to ensure a sound IP landscape for investors.
Prabowo Travels to Malaysia, Japan and China
President-elect and Minister of Defense Prabowo Subianto traveled to Malaysia, Japan and China following his election victory. These engagements were part of a broader working visit to engage with defense counterparts, according the Ministry of Defense. However, discussions with Asian leaders extended beyond security matters to encompass future economic and industrial cooperation.
Prabowo met with China's President Xi Jinping, Prime Minister Li Qiang and Minister of Defense Dong Jun, during his trip there on March 31. He then met with Japan's Prime Minister Fumio Kishida and Minister of Defense Kihara Minoru on April 3, discussing defense cooperation, regional security, and a shared commitment to a free and open Indo-Pacific region. Both China and Japan reaffirmed their commitment to strengthening cooperation and maintaining longstanding good relations with Indonesia.
Prabowo also met with Malaysian Prime Minister Anwar Ibrahim on April 4, expressing the mutual desire to strengthen diplomatic relations and optimism that defense cooperation between the two countries will become increasingly significant in the future.
Despite Prabowo's recent election victory, Minister of State Secretariat Pratikno said his trip to China was undertaken solely in his capacity as defense minister.
Related Links:
- https://www.thejakartapost.com/world/2024/04/05/prabowo-extends-asia-tour-with-malaysia-stopover.html
- https://www.antaranews.com/berita/4043712/prabowo-lanjutkan-lawatan-ke-malaysia-setelah-china-dan-jepang
- https://nasional.kompas.com/read/2024/04/04/07463671/bertemu-menhan-jepang-prabowo-bahas-penambahan-jumlah-kadet-dan-keamanan
- https://www.channelnewsasia.com/asia/indonesia-prabowo-subianto-president-elect-visits-china-japan-foreign-policy-diplomacy-southeast-asia-4239046
- https://kabar24.bisnis.com/read/20240404/15/1755591/pratikno-pastikan-kapasitas-prabowo-ke-china-masih-sebagai-menhan
QRIS Expands to 7 Countries
The Quick Response Code Indonesian Standard (QRIS) can now be used in seven other ASEAN countries, simplifying the payment process for traveling users. Brunei and Laos have recently joined the initiative, with the Brunei Darussalam Central Bank (BDCB) and the Bank of the Lao PDR (BOL) entering into regional payment connectivity (RPC) cooperation.
Assistant Governor of Bank Indonesia (BI) Erwin Haryono emphasized the significance of BDCB and BOL's participation, which brings the total number of central banks involved to eight, thus enhancing regional payment connectivity.
The RPC was initially launched by Indonesia, Malaysia, the Philippines, Singapore and Thailand in November 2022, with Vietnam joining in August 2023. It aims to advance cross-border payment connectivity, and will continue to be expanded to involve all ASEAN member countries and other partner countries outside ASEAN.
Related Links:
- https://katadata.co.id/finansial/makro/660e2dca31a1c/kini-belanja-pakai-qris-bisa-di-7-negara-ada-brunei-hingga-laos
- https://www.viva.co.id/english/1703066-qris-payment-can-be-used-in-brunei-darussalam-and-laos
Get to Know Our Members: The Center for Indonesian Policy Studies
 |
The Center for Indonesian Policy Studies (CIPS) is an independent, non-profit and non-partisan think tank which advocates for practical policy reforms informed by evidence-based policy research and analysis.
Its policy perspectives are based on the belief that only civil, political and economic freedom allows Indonesians to achieve greater prosperity. CIPS advocates policy recommendations to decision makers within Indonesia’s legislative and executive branches of government. It is financially supported by donors and philanthropists who appreciate the independence of our analysis.
PERMIAS Career Week 2024
The Indonesian Students Association in the United States (PERMIAS Nasional) and the Indonesian Professionals Association (IPA) are organizing Career Week 2024, which will be held virtually from April 14-19, 2024.
The event will consist of coaching sessions and company-led information sessions. It is open to Indonesians who are affiliated with any US/Canada-based higher education institution (current students or alumni) and who are searching for full-time positions or internships in top companies both in Indonesia and the US.
| INTERESTED IN JOINING? SIGN UP HERE! |
Now is the Time to Join AmCham!
 |
We offer a full slate of meetings, events, and information for our community. But we can only do this through the support of our members. If you are not yet an AmCham member please join now.
AmCham Indonesia is open to all companies with an interest in US business relations and we have many non-American members.
We are a community and we welcome you!
Reach us at [email protected] or click below!
Update is AmCham’s regular newsletter on developments related to investment, the economy, regulations and issues related to doing business in Indonesia. It comes out three times a week. It is edited by AmCham Managing Director Lydia Ruddy and written by the AmCham Staff. Paul L Goddard is the Managing Editor.
