Indonesia Roundup: New state investment firm, Prabowo swears in large cabinet, bilateral trade
Swordfish kills surfer
The recent surfing tragedy that claimed the life of Italian surfer Giulia Manfrini has raised awareness about the unpredictable dangers of ocean sports. Surfing off Masokut Island in Indonesia, Manfrini was fatally injured when a swordfish impaled her in a freak accident. Despite efforts to save her, she succumbed to her injuries, causing an outpouring of grief and tributes from her community in Italy, Fox News reported.
New state investment firm
In the realm of Indonesian politics, President Prabowo Subianto's recent initiatives mark a significant shift in the country's investment landscape. He is set to introduce the Daya Anagata Nusantara Investment Management Agency, inspired by Singapore's Temasek. This agency aims to consolidate state investments across various sectors, enhancing the government's oversight and potentially boosting investor confidence, Tuoitre News reported. Prabowo's appointment of Muliaman Hadad to lead this new agency reflects a strategic move towards policy continuity with the previous administration.
Prabowo swears in large cabinet
Furthermore, President Prabowo's cabinet has expanded, incorporating over ten new ministers compared to his predecessor's administration. This coalition, involving 12 political parties, holds a significant majority in parliament, which could streamline legislative processes. The new structure introduces 48 portfolios, enhancing the government's capacity to address various sectors effectively. According to news agency NHK World, observers note that this adjustment could serve to consolidate Prabowo's authority and accelerate the implementation of his policies.
Bilateral trade
On the economic front, Indonesia and Vietnam are set to enhance bilateral trade, aiming for a target of $18 billion. The focus will be on sectors such as the Halal industry, the digital economy, and the promotion of electric vehicle development, VOV World reported. Conversations between the two nations' leaders underscore the importance of robust cooperation in trade, agriculture, and regional security, all under the banner of ASEAN unity.
Earthquake
Lastly, a magnitude 5.8 earthquake rattled Tapat Island, affecting approximately 50,000 residents. Fortunately, the earthquake did not cause injuries or property damage, and a tsunami was ruled out. However, the event serves as a reminder of Indonesia's geological volatility, as the country frequently experiences seismic activity, evidenced by a spate of quakes on the same day, according to the Daily Mail's report.
