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Hannover Messe 2023 Unveils the Latest Innovation in Industrial Transformation

Hannover Messe, a home for Industrial pioneers, is making a comeback through an offline exhibition in Hannover Fairground, Germany, from April 17 to 21, 2023. The five-day event will focus on five megatrends of industry, namely AI & machine learning, carbon-neutral production, energy management, hydrogen & fuel cells, and industry 4.0, as well as the current topic of ESG – environmental, social, and governance. With the lead theme “Industrial Transformation – Making the Difference”, companies are being invited to exhibit their innovations on the road to a climate-neutral industry.

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HSBC, EKONID Support Investment in EV Supply Chain

On March 8, 2023, HSBC Indonesia, in cooperation with EKONID, organized the HSBC Investment Forum 2023: Accelerating Indonesia’s Ambition to be the World’s Largest EV Supply Chain Hub. Held at The Glass House of Ritz Carlton Pacific Place Jakarta, the event gathered around 100 participants from the public and private sectors.

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High investment needs for industrial development

Indonesian Investment Minister Bahlil Lahadalia has announced a so-called "Downstreaming Roadmap" to 2040. It is intended to provide the framework for the further processing of domestic raw materials. The aim is to sell these with higher added value on the world market. A total of 21 raw materials are in focus. These are mainly mineral raw materials, but also agricultural materials and fisheries products. The minister put the necessary investment requirements at US$545.3 billion. More than three quarters of this is said to be attributable to the processing of mineral ores and coal.

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Minimum wages will increase by an average of 7.5% in 2023

The Indonesian Ministry of Manpower has announced the average increase in minimum wages for 2023: It is a nominal (on a rupiah basis; US$1 = Rp 15,731) of 7.5%. In Jakarta, the minimum wage will increase by 5.6%. According to the exchange rate of the end of November 2022, the new minimum wage corresponds to $311 per month. In the remaining five provinces of Java, the increases are between 6.4% (Banten) and 8% (Central Java). The monthly minimum wages there are then between $115 and $169. For many foreign companies, Indonesia is a location for cheap contract manufacturing. The monthly minimum wages – with a standard working week of 40 hours – are an important factor for them.

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Govt. lifts all COVID-19 restrictions

The Indonesian government has decided to lift its public activity restriction policy on COVID-19 in light of steadily declining infection rates in the country.

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Booming foreign trade drives the economy

Indonesia recorded real economic growth of 5.2 percent in the first half of 2022. The International Monetary Fund (IMF) is forecasting GDP growth of 5.3 percent for the year as a whole. This is a significant increase. A year earlier the IMF had assumed 4.5 percent for 2022. In return, it should only be 5 percent in 2023 instead of the previously expected 6 percent. This shows that forecasts are more difficult than ever in times of high commodity prices and inflation.

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AHK World Business Outlook Fall 2022

German companies operating internationally are more optimistic about their business conditions abroad compared to that in the Eurozone. ASEAN countries in particular offer great opportunities for supply diversification.

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APK 2022: Germany wants closer ties with Southeast Asia

Germany is keen on strengthening its economic ties with Southeast Asia, German Chancellor Olaf Scholz said during APK 2022 in Singapore this November.

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Ari H. Soemarno, EKONID Chairman (2009-2015), passes away at 73

Ari Hermanto Soemarno, Chairman of the German-Indonesia Chamber of Industry and Commerce (EKONID) from 2009 to 2015, who is also known for his service as the President Director of state-owned oil and gas company PT Pertamina (Persero) from 2006-2009, passed away on Sunday morning, November 13, 2022. He was 73.