Entering new year of 2020, some toll roads will star to generate revenues. State-owned toll road developer and operator Jasa Marga (JSMR) is set to benefit from Kunciran-Serpong, Jakarta-Cikampek elevated, Section I of Manado-Bitung, the whole Balikpapan-Samarinda and Pandaan-Malang.

Thousands of Muslim activists staged yesterday a reunion of participants of the 2016 anti-Ahok rally in Central Jakarta, commemorating the third anniversary of a protest on December 2nd, 2016—hence the 212 rally name ─ demanding the prosecution of then-Jakarta governor Basuki “Ahok” Tjahaja Purnama for blasphemy. One month after the protest, on January 6th, 2017 to be exact, some leaders launched the so called 212 Mart with a view of challenging Indomaret and Alfamart.

Basuki Hadimuljono, minister of public works and housing, openly expressed his disappointment to slow progress in the construction of access road to the Patimban port, one of the largest infrastructure projects with estimated investment of Rp30 trillion (slightly above US$2 billion). “I don’t want that (the contractor said God Willing when asked whether construction can be completed in April 2020). I want your commitment,” he said.

It is now confirmed that Hyundai Motor Company will invest US$1.5 billion in the development of car manufacturing facility in Indonesia after President Joko ‘Jokowi’ Widodo visiting the company’s factory in Ulsan, South Korea yesterday afternoon. Hyundai will start with US$700 million of investment next month or January 2020. It is indeed a good news for the economy, despite criticism over the 20-year tax incentives granted to materialize the investment.

Shares of second largest beer producer Delta Djakarta (DLTA) gained 1.49% to Rp6,800 on Monday (Nov 25). At this price, Delta, which is co-owned by San Miguel and Jakarta provincial administration, had market capitalization of Rp5.4 trillion, less than one-sixth of market leader Multi Bintang Indonesia (MLBI).

It is a bit surprise when industry affairs minister Agus Gumiwang Kartasasmita revealed a plan from SK Chemicals (South Korea) to invest in the country’s petrochemical industry. A surprise because the chemical giant sold two of its subsidiaries in Indonesia, PT SK Keris and PT SK Fiber, which produced raw material for polyester/plastics, eight years ago to Indorama Group.

President Joko ‘Jokowi’ Widodo is currently in Busan, South Korea for the so-called Korea-ASEAN Partnership Summit. Jokowi is accompanied by key cabinet members, Luhut Binsar Pandjaitan (coordinating minister for maritime and investment affairs) and Airlangga Hartarto (coordinating minister for the economy). The visit is particularly important for Indonesia in the growing competition for regional influence between China and Japan.

We have to wait for sometime to get confirmation from Hyundai about their US$700 million investment here. We might wait longer to see implementation of LG Chemical’s planned US$2.3 billion of investment in EV battery or SK Chemical’s petrochemical project. But, other than the names we reported earlier, there are some global manufacturers with ongoing expansion projects in the country, whose output will be impactful to the economy in two years time.

We have talked about the petrochemical complex project for more than one decade now. Ground breaking of the US$3.5 billion project was done in December 2018 by then industry minister Airlangga Hartarto, who is chairman of Golkar Party. Few months ago, however, leaders of PT Lotte Chemical Indonesia, threatened to cancel the project due to conflicts surrounding permits and licensing.

Implementation of major investment commitments from global investors is now in the hands of Luhut Binsar Pandjaitan, coordinating minister for maritime affairs, whose portfolio has been added with ‘investment affairs’. In recent weeks he talked more about new investments coming, but the retired general shall prioritize in implementation of pending investments.