Electric vehicle, including motorcycle, might be one of solutions to improve air quality in most cities. The Energy and Mineral Resources (ESDM) Ministry is intensifying efforts to convert conventional motorbikes into electric vehicles to achieve the target of net-zero emissions by 2060. 

The upstream textile industry is pressured by imported products, so it could not gain from the momentum of economic recovery after the Covid-19 pandemic. That said, the utilization of this strategic industry fell to below 50% in the first half (H1) of 2023, much lower than the same period last year, at 75-78%. There are even factories running only 30% of installed capacity.

Minister of industry Agus Gumiwang Kartasasmita has on Wednesday (Aug 9) met Takao Kato, CEO of Mitsubishi Motor Corporation (MMC) to discuss the automotive giant’s plan to invest Rp5.7 trillion in Indonesia. Mitsubishi plans to boost its production capacity to 250,000 units per annum by next year. Mitsubishi plans to produce 176,000 cars in Indonesia this year with target to produce 231,000 units next year, of which 98,000 units for export market. 

The Indonesian Heavy Equipment Industry Association (Hinabi) reported that construction and mining heavy equipment production during the first half (H1) of 2023 corrected slightly to 4,014 units, from 4,042 units in the same period of 2022.

Claimed itself market leader, state-owned steel manufacturer PT Krakatau Steel (KRAS) Tbk is now worth only Rp4 trillion, not even half its equity (Rp9 trillion by June 30). The first major steel manufacturer in the country, but for decades Krakatau Steel consistently suffered losses despite huge support from the State.

Cement producers came up with mixed results in the first half of 2023. Market leader Semen Indonesia (SMGR) reported squeezed margins, while second largest player Indocement (INTP) posted significantly stronger bottomline. Cemindo Gemilang (CMNT) should have reported net loss without non-cash forex gains.

President Joko ‘Jokowi’ Widodo is currently in China for a State visit. A meeting with President Xi Jinping resulted in the signing of eight agreements, which will naturally lead to higher influence of China in Indonesian economy, including in the healthcare, agriculture, manufacturing, and infrastructure. 

Solo-Yogyakarta is among the busiest roads in the country with 25,000 cars per day traveling between the two cultural cities. People have long waited for a toll road which can cut short travel time from three hours to one hour only. It won’t happen soon, but portion of the Solo-Yogyakarta toll road, built with estimated investment of Rp24.7 trillion, will likely start commercial operation before the end of Jokowi’s term next year.