English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 24 April 2019, 17:00 HKT/SGT
Share:
Grand Kartech aims at Export Market amid Growing Manufacturing Industry

JAKARTA, Apr 24, 2019 - (ACN Newswire) - Indonesia's Ministry of Industry (Kemenperin) projects the manufacturing sector could reach 5.4% in 2019. Subsector projections include the food and beverage, machinery, textile and clothing, leather, leather products, footwear, metal product, computers and electronic equipment industries.

"Kemenperin in coordination with the other ministries and agencies is pushing these industries to contribute to economic growth, social stability, and dynamic development in the private sector," said Minister of Industry Airlangga in his statement on April 1.

Airlangga explained that the government is pushing development of the manufacturing industry in order to gain international competitiveness along with the roadmap of Making Indonesia 4.0.

"Besides that, optimizing productivity, especially in export oriented industries as well as to gain investment from import substitution industries. Right now, macro policy is kept on track as the government runs its economy package policy," said Airlangga.

To bolster the national manufacturing industry, the government also sealed Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). With that partnership agreement, Indonesian exports to Australia will increase as Australia committed to reducing its import tariff to 0%.

"We appreciate the comprehensive economic cooperation as it contributes towards momentum to raise the mutual benefit of both countries," Airlangga added.

IA-CEPA is a new milestone in improving Indonesia-Australia relations. The comprehensive partnership not only includes agreements on goods and services trade and investment but also wider economic cooperation. "The scope of the comprehensive partnership will positively impact Indonesian and Australian long term economic cooperation," Airlangga said.

Airlangga added that investment in manufacturing industry could increase this year because the government had released the regulation related to the wider holiday tax through Minister of Finance Regulation (PMK) 150/2018 regarding the Granting of Corporate Income Tax Deduction.

Additionally, the implementation of online single submission (OSS) also makes the incentives more clear. "It means, investors no longer need to wait as Indonesia's political and economic condition is considered as steady. This is an opportunity for Indonesia to boost investments and exports while optimizing the Domestic Component Level (TKDN)," said Airlangga.

Manufacturing industry players are also optimistic over this year's economic growth and government support of the manufacturing industry. "We appreciate government efforts to boost the competitiveness of national manufacturing, as well as efforts to push the national export product," said PT Grand Kartech Tbk Chief of Finance Johanes Budi K.

PT Grand Kartech (IDX: KRAH) says that it is targeting the Australian market. With its ASME (America Society of Mechanical Engineers) and ISO international standard in engineering and manufacturing, as well as its experience in serving international clients, KRAH aims to demonstrate that local product can compete in the global market.

Contact:
Hendra
+62 812 32885533
Email: [email protected]


Topic: Press release summary
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Yangon International Airport welcomes IndiGo's inaugural flight from Kolkata  
Sept 20, 2019 20:00 HKT/SGT
HKTDC extends partnership with Veronafiere to 2021  
Sept 20, 2019 18:00 HKT/SGT
Eisai and Meiji Announce Parkinson's Disease Treatment Equfina Tablets (Safinamide Mesilate) Approved In Japan  
Sept 20, 2019 15:13 HKT/SGT
MHIENG Completes Large-Scale Polyethylene Production Train for ExxonMobil in Beaumont, Texas  
Sept 20, 2019 15:05 HKT/SGT
Toyota to Hold 30th Toyota Automobile Museum Classic Car Festival in Japan  
Sept 20, 2019 15:02 HKT/SGT
Cumulative Global Sales of the Toyota Land Cruiser Series Surpass 10 Million Units  
Sept 20, 2019 14:55 HKT/SGT
The Honda Prize 2019 Awarded to Dr. Geoffrey Hinton, Professor Emeritus, the University of Toronto and Chief Scientific Adviser, Vector Institute  
Sept 20, 2019 14:48 HKT/SGT
Fujitsu and PeptiDream Leverage Quantum-Inspired Tech in Joint Research to Accelerate Drug Discovery  
Sept 20, 2019 11:03 HKT/SGT
Hitachi: Chaskey Message Authentication Technology Developed for IoT Systems Supporting Key Infrastructure Adopted by ISO/IEC for Lightweight Cryptography  
Sept 20, 2019 10:05 HKT/SGT
Eisai's Promotion and Distribution Agreement with Mylan India for Eribulin Second Brand in India  
Sept 20, 2019 08:40 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6653 1210 | Tokyo: +81 3 6859 8575