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Category: General

Retail News Asia is committed to providing both local and global retailers with the latest General Retail news throughout the Asian market. This on a daily base.

  • Retail loss for APAC retailers to peak this holiday season

    Retail loss for APAC retailers to peak this holiday season

    Retailers in the Asia-Pacific region will experience both their highest sales and shrink distributions during the holiday season, according to the 2016 Retail Holiday Season Global Forecast.

    The report boldly predicts that 32 percent of the losses of the region’s retailers will  be due to internal and external theft, with apparel, children’s toys, holiday foods, electronics and cosmetics emerging the favorites among thieves.

    Theft from internal sources (primarily via employee theft and other sales reducing activities) and external factors (primarily via shoplifting/organized retail crime), which is referred to as shrink by retailers, are also forecast to reach 28 percent of annual retail sales.

    The study, underwritten by an independent grant from Checkpoint SystemsInc., was carried out by Ernie Deyle, a retail loss prevention analyst, and provides an analytical view of business risks that major retailers face during this holiday season.

    The 13 markets covered in the report include North America, Europe and Asia, and include the US, Belgium, France, Germany, Italy, Netherlands, Portugal, Spain, UK, Australia, mainland China, Hong Kong and Japan.

    “Building holiday inventories earlier and specifically for high-risk items may lead to increased sales reduction pressures, such as markdowns and shrink throughout the fourth-quarter,” said Mark Gentle, Vice President — Merchandise Availability Solutions Asia Pacific, Checkpoint Systems.

    According to the study, Australia is expected to record the highest shrink loss for this holiday season among all the Asia-Pacific markets surveyed at 35 percent, followed by Japan (31 percent), mainland China (30 percent) and Hong Kong (30 percent). The rate is more than 30 percent higher than the first two quarters of the year.

    In the Asia-Pacific region, the cost of retail loss to shoppers in 2016, as absorbed or passed on from retailers, is expected to be $32 per person on average, of which one-third will be incurred during the holiday season. These increases in losses place an enormous burden on retailers and, ultimately, on honest consumers who pay for it in higher prices.

    “For most retailers, wholesalers and distributors, inventory — including the space to store it — is the largest single cost of doing business. While reducing inventory means lower costs, insufficient inventory leads to out of stock situations, lost sales and unhappy customers. Therefore balancing these two factors is critical to profitability and growth, particularly in omnichannel environments,” said Gentle.

    “The use of advanced data analytic tools, inventory management strategies, along with technologies such as RFID will provide retailers with enhanced visibility to track merchandise as it moves through the supply chain to distribution centers, retail backrooms, and store shelves, helping retailers reduce losses due to shrink and other causes, ultimately increasing the financial contribution of each item.”

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  • AEON Provides Privileges for Northern Customer at the 11th Money Expo Chiangmai 2016

    AEON Provides Privileges for Northern Customer at the 11th Money Expo Chiangmai 2016

    AEON Thana Sinsap (Thailand) Public Company Limited will be offering information on its different financial services and special promotions at the 11th Money Expo Chiangmai 2016. Services include Personal Loan, Your Cash, Cash Withdrawal, AEON Credit Cards and Member Cards application service.

    AEON customers who make financial transactions at the expo will also be in with a chance to win a 1-Baht gold necklace, John Lang Ford Bag or AEON Umbrella. Furthermore, AEON customers who has the financial transaction that meet AEON’s conditions will receive Caggioni Luggage or Big C Gift Voucher valued at 2,000 Baht maximum. Additionally, AEON is giving a special interest 0% installment on gold.

    The 11th Money Expo Chiangmai 2016 will be held from Nov 18 – 20, 2016 at Chiangmai Hall, Central Plaza Chiangmai Airport. 

  • Vietnam & South Korean businesses signed 10 contracts

    Vietnam & South Korean businesses signed 10 contracts

    The five-day fair themed “Viet Nam-South Korea Cooperation for Mutual Development” was held in the southern province of Ba Ria-Vung Tau.

    Truong Van Thoi, director of the provincial Trade Promotion Centre, said the event attracted some 40,000 visitors who spent over VNĐ6.5 billion.

    Wooden furniture businesses earned the highest revenue totalling VNĐ1.7 billion, followed by firms in textile, garments and the retail sector.

    Meanwhile, South Korean companies posted total revenue of some VNĐ1.1 billion.

    The fair facilitated local enterprises and businesses of both sides to foster their trade promotion activities, share market information and exchange experiences, helping them find suitable partners.

    The event featured 348 booths showcasing products of 194 firms, including 84 from Ba Ria-Vung Tau and 35 from outh Korea.

    Participants brought to the fair various items, including wooden products, handicrafts, interior décor and garments, as well as seafood, plant varieties, cosmetics and other consumer goods.

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  • SIA delays launch of Jakarta-Sydney route after Indonesia withdraws approval

    SIA delays launch of Jakarta-Sydney route after Indonesia withdraws approval

    Flag carrier Singapore Airlines (SIA) said on Wednesday (Nov 9) it has delayed plans to launch a new route linking Singapore, Jakarta and Sydney, after Indonesia withdrew its approval due to runway maintenance work.

    The airline had earlier announced that it planned to launch the thrice-weekly Singapore-Jakarta-Sydney route on Nov 23. SIA said Indonesia’s civil aviation authorities had issued written approval, and the airline had secured the necessary airport slots.

    However, Indonesian authorities have informed the airline that they are now unable to approve the flights due to runway maintenance work at Jakarta’s Soekarno-Hatta International Airport, SIA said. The runway work also affects other airlines, it added.

    In response to media queries, the Civil Aviation Authority of Singapore (CAAS) said it was aware of the delay in the launch of the new route.

    “SIA’s new service will enhance air connectivity between Singapore, Jakarta and Sydney, which will facilitate people and trade flows between these cities,” CAAS said.

    “We hope the Indonesian civil aviation authorities can give approval for this new service as soon as possible so that it can be launched.”

    SIA said it will contact customers with bookings on the route and transfer them to other flights. “The airline apologises for the inconvenience caused to our customers,” it said.

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  • PNG plans to open flight route to Papua

    PNG plans to open flight route to Papua

    Papua New Guinea has reiterated its plan to open a flight route from Mount Hagen to Jayapura during a meeting of the Border Liaison Officers held in Port Moresby, an Indonesian official said.

    Papua New Guinea will soon realize its plan but has not set a specific date for it, Director for East Asia and the Pacific at the Indonesian Foreign Ministry, Edy Yusuf, said on Tuesday.

    Yusuf said the Indonesian government is prepared to help realize the plan soon.

    “Indonesia is ready to help Papua New Guinea realize the plan since there is no flight from Papua to Papua New Guinea,” he added.

    The head of the Indonesian delegation to the meeting, Klemen Tinal, who is also the deputy governor of Papua, shared Yusufs view and expressed the hope that the plan would come to fruition soon.

    Most citizens of Papua New Guinea who live in Vanimo visit Indonesia by land through borders between Wutung in Papua New Guinea and Skouw in Indonesia, as well as by sea, he informed.

    If the plan to open the flight route is realized, they will no longer need to travel to Papua by land or sea, he stressed.

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  • Airasia to serve Kuala Lumpur-Jakarta-Labuan Bajo route

    Airasia to serve Kuala Lumpur-Jakarta-Labuan Bajo route

    The Malaysia-based low cost carrier AirAsia will soon serve the Kuala Lumpur-Jakarta-Labuan Bajo route, according to East Nusa Tenggara Tourism and Creative Economy Office Chief Marius Ardu Jelamu.

    “There has been an agreement with the central government and the airline company that AirAsia will serve this new route starting from next year,” Jelamu said here on Wednesday.

    He said the AirAsias new route will have a positive impact on the flow of tourists to the province of East Nusa Tenggara through the entry gate of Labuan Bajo.

    “This new service of AirAsia will enable more foreign tourists to visit the leading destinations in East Nusa Tenggara,” he said, adding that tourism progress is dependent on smooth air transport connectivity.

    Jelamu said that in addition to the Kuala Lumpur-Jakarta-Labuan Bajo route, his party is also trying to accelerate the implementation of Kupang-Dili-Darwin route.

    “In addition to air connectivity from the west, the one from the south, namely from Australia to East Nusa Tenggara, also has its share of attractive markets for linking the three countries,” he said.

    Jelamu expressed hope that the Kupang-Dili-Darwin route, which had been halted since 1990s, can be reopened soon to support the advancement of tourism in the island province.

    “We hope that the Ministry of Transportation will quickly agree on the proposed route service with the airline,” he said.

    Further, Jelamu said he appreciated the efforts of the Ministry of Transportation to have opened the Jakarta-Kupang and Jakarta-Labuan Bajo routes, served by Garuda Indonesia.

    However, he said the flight path from the south also has attractive market potential related to the flow of tourists and expressed hope that the Kupang-Dili-Darwin route would be reopened soon.

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  • Trump to seek Indonesia`s agreement on trade commitments

    Trump to seek Indonesia`s agreement on trade commitments

    The US President Elect Donald Trump will want Indonesia to agree to ratify international trade commitments including APEC and the Indonesia-US Strategic Partnership.

    “Donald Trump will be interested in making investments in the infrastructure sector, including air, land and sea ports, especially investments that have the potential to lessen the influence of the Peoples Republic of China in South-East Asia,” international relations observer from Padjajaran University, Teuku Rezasyah, told ANTARA News in Jakarta on Wednesday.

    Teuku Rezasyah added that Donald Trump will potentially urge Indonesia to explain the Free-Active policy adopted by the country in the context of the rivalry between the US and China.

    “Considering the importance of investment and trade security, Trump is likely to understand the challenges faced by Indonesia in following human rights principles in the country,” he noted.

    Republican Donald Trump won over his rival Hillary Clinton, the candidate of the Democratic Party.

    Trump was elected as the 45th US President with total electoral votes far above Hillary Clintons.

    His victory came as a shock since most surveys had predicted that Hillary Clinton would win the US Presidential contest.

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  • HKTDC Optical Fair Opens with Record Exhibitors

    HKTDC Optical Fair Opens with Record Exhibitors

    The HKTDC Hong Kong Optical Fair 2016 started its three-day run (9-11 November) today at the Hong Kong Convention and Exhibition Centre. A record of more than 780 exhibitors from 29 countries and regions are taking part in the fair, including new exhibitors from Indonesia, Poland and South Africa, providing a comprehensive trading platform for the industry. The show, which is in its 24th edition, is organised by the Hong Kong Trade Development Council (HKTDC) and co-organised by the Hong Kong Optical Manufacturers Association (HKOMA).

    To create more business opportunities for the exhibitors, the HKTDC has organised 72 buying missions from 47 countries and regions, comprising more than 3,000 companies. Participants hail from both mature and emerging markets, including The Eyecare Company and George & Matilda Eyecare from Australia, V.P.I. Canada Ltd from Canada, EXTEL CZ s.r.o. from the Czech Republic, Oriental Vision and 5lux.com from the Chinese mainland, Inter House Co. Ltd. from Japan, Eyespec2U Optical Centre from Malaysia, Empreus International from the Philippines, and INDO Optical, S.L.U. from Spain.

    Eye care and high-tech eyewear

    In today’s digital era, people are frequently using digital devices and the blue light emitted from these screens can be harmful to eyes, especially for youngsters. Responding to consumer demand, the Optical Fair is featuring protective lenses, including SWISSCOAT’s lens with blue-light filter, which can minimise eye fatigue while enhancing visual clarity.

    High-tech solutions continue to be a highlight at this year’s fair. With 3D printing technology maturing, a number of eyewear brands are leveraging the technology to design and manufacture spectacle frames. These include renowned German brands ic! berlin and Morgenrot, which are creating sophisticated, refined designs using 3D printing technology.

    Augmented reality (AR) is also seen in the application of eyewear-related products. A Hong Kong company is presenting its Faceme AR Glasses that enable users to “try on” virtual glasses by simply looking at the screen. Meanwhile, Austrian brand Swarovski Optik has designed lightweight binoculars for outdoor enthusiasts. Users can connect a smartphone to the product to easily see and record images.

    Famous names galore at Brand Name Gallery

    This year’s Optical Fair has nine product zones featuring a medley of eyewear products. The Brand Name Gallery returns with more than 220 top brands, including CONVERSE, EVISU, JAEGER, Markus-t, Miga, MINIMA, MUZIK, MYKITA, QUIKSILVER, Roxy, Superdry and Tonysame. Local artiste Luisa Leitao is displaying her eponymous brand’s eyewear products while Korean brand Sodamon is featuring its sunglasses collection that won the Grand Prize of the Good Design Award in both Korea and Australia.

    Other highlights include:

    – BIG HORN (Booth: GH-F12) is showcasing its large, circular-rimmed frames that were inspired by the angels and owls of Greek mythology. The Chinese traditional graphic pattern on the lens and bridge is a mix of eastern and western cultures. The design won the International Design Award (IDA) 2015 in the United States.

    – Korean brand MUZIK (Booth: GH-E06) is releasing its latest IMAGINE collection, paying homage to the legendary musician John Lennon. The collection features circular rims and bold cuts on the upper part of the frame.

    – Well-known German brand KUBORAUM (Booth: GH-M04) is featuring its latest collection, The Ceremony Capsule. Designer Livio Graziottin has hand-painted different exotic floral patterns for these classy sunglasses. Only a few dozen pairs of each model are available.

    – Italian brand MODO (Booth: GH-K04) is famed for producing eco eyewear with recycled and bio-based material, innovatively combining green elements with fashionable eyewear designs. The brand has even developed a patented “dual hinge” design for lightweight frames. The brand also advocates donating unwanted eyewear and runs an environmental programme to plant a tree for every frame sold.

    A number of eyewear parades are being staged during the fair, with models showcasing the latest collections of trendy eyewear brands. The winning and finalist works of the 18th Hong Kong Eyewear Design Competition are also exhibited at Hall 1D, displaying Hong Kong’s design prowess to international buyers. Buyers can also cast their votes to select the winner of the Latest Look Award.

    Other product zones at the fair display the latest eyewear and equipment in different categories, including sporting & professional eyewear, kids’ eyewear, reading glasses, eyewear accessories and optometric instruments & machinery.

    Conference and seminars examine industry trends

    A number of seminars will be held during the Optical Fair to help industry professionals gather and exchange global market intelligence. GfK, the renowned German market research institute, returns to the fair to speak on topic “How the Global Optics Industry Reacts to the Economic Development and Its Latest Trend”. Buyer forum on business opportunities in emerging markets will also be held.

    Tomorrow (10 November), the 14th Hong Kong Optometric Conference features experts from Hong Kong, Australia, Canada and the US to discuss the Advancement in Ophthalmic Treatments. Speakers include Professor Larry Abel, Associate Professor, Department of Optometry & Vision Sciences, The University of Melbourne and Dr Geunyoung Yoon, Professor, Department of Ophthalmology, University of Rochester in the US. A variety of topics will be examined, including “Effect of Myopia Control Lenses”, “Recent Development in Refractive Surgeries” and “Impact of 3D Printing in Spectacle Frame Design”.

    Hong Kong is a key trading platform for the eyewear industry, and local manufacturers continually strive to improve the quality and design of products for export. In the first nine months of 2016, Hong Kong’s total exports of spectacles, lenses and frames exceeded HK$15 billion, up 37 per cent year-on-year. Hong Kong’s top export markets are the US, Italy and the Chinese mainland. Exports to ASEAN have shown strong growth this year. These figures indicate the vibrant momentum of the local eyewear industry.

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  • Minister hopes festival will promote Indonesian pearl to the world

    Minister hopes festival will promote Indonesian pearl to the world

    Maritime Affairs and Fisheries Minister Susi Pudjiastuti hopes that the Indonesian Pearl Festival (IPF) 2016 will introduce Indonesias original pearls to the world.

    “I hope the Indonesian South Sea Pearl (ISSP) would be introduced to pearl stakeholders and enthusiasts. The exhibition which has been held regularly would open access to the people,” the minister said when opening the IPS in Jakarta Wednesday.

    The exposition displays the Indonesian sea kept pearls to the public she said.

    It was the duty of everyone to introduce the Indonesian pearl to pearl stakeholders and enthusiasts, the minister said.

    If the ISSP is recognized as a new commodity which has a high value, it would benefit Indonesia, as it would serve as a new source of economy to Indonesia.

    The Indonesian pearl has good potential for the world market and therefore, noted designers are called on to present the latest pearl designs, she stated.

    “Many people will come to know and love the pearl when they see the creative and up to date designs,” the minister added.

    If the Indonesian pearl potential is cultivated properly it would boost the Indonesian economy, Minister Susi reminded earlier.

    Pearls have become the target of illegal export practices, she said, and added that in 2014 the pearl exports to Hong Kong were worth US$49.8 million.

    The figure is very different from the Indonesian pearl export data.

    In 2015, Hong Kong imported pearls from Indonesia worth $34.2 million. But Indonesias pearl export data to Hong Kong showed that it was worth only about $1 million.

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  • Indonesia explores opportunities in brownfield investments

    Indonesia explores opportunities in brownfield investments

    Indonesia is planning to open up state-owned run infrastructure, such as toll roads, to private investors in an effort to generate fresh funding for new projects.

    President Joko “Jokowi” Widodo said on Wednesday that he would ask some state-owned enterprises (SOEs) to sell their concessions in major toll roads, such as the Jagorawi toll road in East Jakarta, to private investors.

    Jagorawi, which connects Jakarta to Bogor and Ciawi in West Java, is the country’s oldest toll road and is currently managed by state-owned toll road operator Jasa Marga.

    “For Jasa Marga and [state construction firm] Waskita Karya, which own many toll roads, your job is to build a toll road, not to own it,” the President said on Wednesday in Jakarta, during the 2016 Indonesia Infrastructure Week.

    Not many investors, he added, wanted to invest in greenfield infrastructure projects, which refers to fresh projects, and instead preferred to put their money in brownfield projects, which refers to projects that are already operating and generating cash flow.

    National Development Planning Board (Bappenas) head Bambang Brodjonegoro, meanwhile, said it was possible for SOEs to offer a concession-sharing scheme to private investors. The SOEs, for example, could sell shares of their subsidiaries that are in charge of toll-road management.

    “They can sell some [portion of shares], like 30 to 40 percent. The SOEs will still own the main concession [for the toll road],” he said.

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  • Pertamina`s profit up 209 pct in third quarter

    Pertamina`s profit up 209 pct in third quarter

    PT Pertamina made a net profit of US$2.83 billion in the third quarter of this year, 209 percent more than the US$914 million it made in the third quarter in the previous year.

    The president director of the state-owned oil and gas company, Dwi Soetjipto, on Tuesday credited the achievement to improved operational performance and efficiency as a result of various initiatives and breakthroughs.

    He said although the profit soared, corporate income was down 16.8 percent to US$26.62 billion from US$32 billion in the previous period due to a relatively lower price of crude.

    “What is encouraging is that net profit performance has been good as a result of enhanced efficiency and initiatives like the Breakthrough Project,” he added.

    Dwi Soetjipto noted that the company continued to improve its operational performance by increasing efficiency and successfully cut costs up to 27 percent in the first month of this year.

    “Until September 2016, around US$1.6 million had been saved through Breakthrough Projects,” he revealed.

    The companys downstream performance in the third quarter reached 646,000 barrels of oil equivalent per day, consisting of 309,000 barrels of oil and 1,953 mmscfd of gas per day.

    This was 12.3 percent more compared to the same period before.

    Meanwhile, the geothermal power production reached 2,233 GwH electricity equivalent.

    He stressed that the company continued to develop infrastructure including gas, processing and marketing infrastructure.

    Several projects such as Gresik-Semarang, Muara Karang-Muara Tawar and Tegal Gede gas pipeline projects have been completed up to 70 percent.

    The first RDMP (Refining Development Master plan Program) phase of the refinery project in Balikpapan, Kalimantan, is expected to be completed in June 2019 and it will become operational in September 2019 while the first phase of the project is expected to be completed in the middle of 2021 when its production will meet Euro 5 standard.

    The New Grass Root Refinery project in Tuban, East Java, a joint venture between Pertamina and Rosneft of Russia, is expected to be completed by the end of 2021. The production there will also meet Euro 5 standard.

    The RDMP of the refinery project in Cilacap, Central Java, which is a cooperation project with Saudi Aramco, is expected to be completed in 2022, also with Euro 5 Standard in production.

    “As for the New Grass Root Refinery project in Bontang (Kalimantan), it has been decided that it would be referred to Pertamina for completion, a goal expected to be achieved tentatively by 2023 with Euro 5 Standard production,” Dwi Soetjipto explained.

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  • Retailers need to embrace changing Chinese tourist demographics

    Retailers need to embrace changing Chinese tourist demographics

    Increasing numbers of Chinese tourists are travelling alone – and retailers in Asia seeking to cash in on their growing spawning power need to find ways to embrace the trend.

    Traditionally, Mainland Chinese tourists have travelled in groups – sold packages before they leave home and effectively herded into shopping destinations, often with commissions paid to tour organisers or guides.

    But that is set to change soon with the Beijing-based government tightening the rules on cheap package tours.

    South Korea is a case in point where the trend has been identified early and active work is underway to appeal to the new demographic.

    Duty-free operators and department stores have stepped up customised marketing targeted at shoppers in their 20s and 30s and deep-pocketed travelers from China, as they have become the main customers over the past few years.

    The shifting focus took on a new urgency as the Chinese government has been moving to tighten regulations on cheap tour packages, raising concerns among South Korean businesses relying on them as the biggest source of travel income.

    Out of 5.98 million Chinese nationals who visited South Korea last year, nearly 60 per cent were independent travelers, according to the state-run Korea Tourism Organization.

    Lotte Duty Free, which is operated by Hotel Lotte, offers a “personal shopper service” for VIP customers to pair them up with stylists who give advice and suggest products that may suit their needs.

    The nation’s largest duty-free operator has about 600,000 customers registered for VIP programs and also provides airport pick-up services for those who spend a certain amount of money.

    Shilla Duty Free, which is operated by Hotel Shilla, said it regularly holds “beauty classes” to advise on the best cosmetic products and offer makeup services to attract Chinese customers in their 20s and 30s.

    Tourism officials stress efforts to develop a wider array of options for Chinese travellers to encourage them to revisit in the future.

    “We have focused on attracting more independent travelers over the past years not only from China and Japan but also Southeast Asian nations and the Middle East to meet their diversifying needs and upgrade the tourism industry’s competitiveness,” Hwang Myung-seon, a senior official at the Ministry of Culture, Sports and Tourism, said.

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  • Philippines Inspect Plane Order at PT Dirgantara Indonesia

    Philippines Inspect Plane Order at PT Dirgantara Indonesia

    Under Secretary for Finance and Material, Department of National Defense of the Philippines (General Retirement) Raymundo Elefante, said that his country is currently interested in purchasing Indonesian defense products to modernize the Philippines’ weapons and combat equipment.

    Raymundo said that two NC212i airplanes he had inspected at PT Dirgantara Indonesia (PTDI) is part of the Philippines’ airplane procurement program. The planes will be delivered to the Philippines’ early next year. “Aircraft produced by PTDI will be used in various conditions such as natural disaster, medical evacuation, and other conditions,” Raymundo said while inspecting the two airplanes at PTDI’s aircraft factory complex in Bandung, November 4, 2016.

    Raymundo said that his country decided to choose NC212i because of its competitive prices. In addition, the Philippines also currently wait for its ship order from PT PAL.

    Raymundo however, did not provide detailed information on the ship orders. PT PAL had delivered one of the Philippines’ ship order and another one will be finished next year.

    Budiman Saleh, Director of Commerce and Restructuring of PT Dirgantara Indonesia said that the two NC212i plane was the first airplane purchase by the Philippines in the last 20 years. “We have to respect [the Philippines] and its modernization program. This is the first purchase by the country after 20 years,” Budiman said.

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  • Indonesia promotes tourism branding at World Travel Market

    Indonesia promotes tourism branding at World Travel Market

    The Tourism Ministry is promoting a tourism brand of Wonderful Indonesia at the global travel fair of World Travel Market (WTM) in London from November 7 to 9, 2016.

    By promoting the event, the ministry is featuring the beauty of Banyuwangi (East Java) images on five decker buses from October 31 till the end of November, according to a statement from the Tourism Ministry received by ANTARA here on Wednesday.

    Indonesia has signed an agreement as the prime sponsor of the travel fair. Tourism Minister Arief Yahya said the agreement will help in promoting Indonesian tourism.

    “WTM is a global travel fair. As in 2015, around 50 thousand tourism professionals from 183 countries participated in the fair,” the minister said.

    He added that WTM was an effective and efficient media to promote Indonesia and its tourism brand of Wonderful Indonesia in the global market.

    With a visa-free policy and deregulation on yacht or cruise ship travelling to Indonesia, the government expects 20 million foreign tourists by 2019, nearly double the target of 10.4 million set in 2015.

    At the fair, the Indonesian delegation will showcase UNESCOs world heritage of Borobudur Temple, Prambanan Temple in Central Java, diving spots in Raja Ampat in Papua, as well as golf, spa and shopping tour in Jakarta and Bandung (West Java).

    The UK and European Union are very important markets, as the number of potential tourists is quite great. Each tourist would stay at least for 10 days on average and would spend a huge amount during their trip.

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  • President hopes economy to grow more than 6 percent in 2018

    President hopes economy to grow more than 6 percent in 2018

    President Joko Widodo (Jokowi) said he hopes the countrys economy could grow more than six percent in 2018 that the 2018 state budget would get healthier.

    “In entering the year 2018, the first thing we want is a growth of more than six percent,” the president said when opening a plenary session of the cabinet at the state palace here on Wednesday.

    Jokowi said he was aware it would not be easy because for that there should be a growth of more than 10 in the investment sector.

    He then asked the head of the Capital Investment Coordinating Board (BKPM) to report estimates including steps that have to be taken to boost investment.

    “The consumption sector needs to grow more than 5 percent, exports are also expected to grow by at least 4 percent and imports by at least two to three percent,” he said.

    He said, however, the figures still leave rooms for corrections or an increase.

    He said he wanted discussion and debate on the 2018 state budget made earlier that implementation would be better.

    Almost all cabinet ministers and head of government agencies attended the cabinet plenary session.

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