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Indonesia to launch economic packages today, inaugurate first LRT project

adhi-karya-LRT

JAKARTA (rambuenergy.com) – The Indonesian government is scheduled to launch a comprehensive economic policy packages today in a move to  stimulate economic growth and lure foreign investment and capital inflow into the country.

Finance Minister Bambang Brodjonegoro said there are a number of major policies that were prepared by separate ministers. “Just wait,” he said yesterday.

A number of national media reports that the policy packages will consist of five key policies. Among of them is to allow foreign visitors or tourists to open foreign currency bank account in domestic banks with a certain limit as well as allow foreigners to buy apartments with a minimum of Rp5 billion rupiah price tag.

The government announced the policy packages following recent weeks market rout that lead to sell-off in the capital market as well as weakening of the rupiah to above Rp14,000 to a US dollar.

Separately, President Joko Widodo is scheduled to inaugurate the construction of elevated light rail transit (LRT) at Taman Mini Indonesia Indah (TMII) compound. In the first phase, the LRT will link Cibubur and Cawang in East Jajakarta and then Dukuh Atas in Sudirman street.

The LRT is developed by state construction firm PT Adhi Karya Tbk (ADHI).

Previously, President Joko Widodo has issued 2 Presidential Regulations (Perpres No. 98 and No 99, 2015) as legal basis for the development of LRT that will connect Jakarta, Bogor, Tangerang and Bekasi on Sept. 2, 2015. The regulations aim to speed up the construction of the LRT.

The idea is that people will leave their car outside the central business district and then travel to the heart of the city by using LRT. It aims not only reduce traffic congestion, but also help ease pollution in the capital city caused by car emissions.  (*)

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