Toyota Indonesia’s car exports likely to fall 40-50 percent in 2020
Toyota's vehicle exports from its manufacturing facilities in Indonesia are forecast to drop by 40-50 percent in 2020 due to the impact of the COVID-19 pandemic.
Jakarta (VNA) - Toyota's vehicle exportsfrom its manufacturing facilities in Indonesia are forecast to drop by 40-50percent in 2020 due to the impact of the COVID-19 pandemic.
Speaking at an online workshop in Jakarta this week, President Director of PT Toyota Motor Manufacturing Indonesia (TMMIN) WarihAndang Tjahjono said the COVID-19 pandemic has been affecting the firm’s carproduction since April when domestic and export demand plummeted.
According to the Indonesian automobile manufacturers association (Gaikindo), the domestic consumption hasdecreased by 40 percent in 2020 to about 600,000 units, compared to 1.03million units in 2019.
Meanwhile, exports have also declined as importing countries in the MiddleEast, South America and Africa have been also affected by the pandemic. It isestimated that the volume of exported cars will drop by 40 percent compared to2019, reaching only 208,000 units.
TMMIN hoped that the Indonesian government will take measures to encourage its peopleto buy cars, as well as directly support the automotive industry such asreducing PPh21 tax to 30 percent so that the domestic market can grow in thetwo remaining quarters of 2020./.
Indonesian Trade Minister Agus Suparmanto said that the country has outlined a strategy to facilitate exports, which have strongly dropped in recent times.
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The Asian Infrastructure Investment Bank (AIIB) announced on June 23 that it and other banks had approved loans totalling 1 billion USD loan to help strengthen Indonesia’s health and economic responses to the COVID-19 crisis.
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Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image (Photo: //english.nna.jp/) 
