Thomas Trikasih Lembong (known by his peers as Tom Lembong) is the new Head of the Investment Coordination Board (BKPM) to replace Franky Sibarani. Tom was moved from the Ministry of Trade, the position now filled by Nasdem politician Enggartiasto Lukita. While being moved away from the Ministry of Trade to BKPM constitutes a demotion, being in charge of attracting and servicing investments is not an inconsequential job.
Read MoreToll road development is one of signature projects of Jokowi-Kalla administration. Land acquisition in some areas and financing are still the biggest challenges. Jokowi has appointed new minister of agraria/land, Sofyan Djalil, to replace Ferry Mursyidan Baldan, who was considered too slow in solving land acquisition issues. Jokowi has also appointed the high-profile Sri Mulyani Indrawati as minister of finance, who should ensure continuous support from the State Budget for co-financing of these projects.
Read MoreAggressive expansion of convenience stores might have hurt bigger retail formats more in the first half. Alfamart, one of the largest operators of convenience stores, enjoyed strong sales revenue growth of 21.5% even though number of outlets grew only 5.4%. This year’s Lebaran, which was two weeks earlier than last year, meanwhile, contributed to the strong growth of fashion retailers in the second quarter.
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