Indonesia aims for 32 mln tons of rice in 2025
Indonesia’s rice production is projected to reach 32 million tons in 2025, marking a 3% increase over the estimated 31 million tons for this year, according to the country's Coordinating Minister for Food Affairs Zulkifli Hasan.
The minister highlighted that the country’s national rice reserves have hit the highest levels in five years, with between 1.9 to 2 million tons currently stored, and over 6 million tons already distributed this year. In total, Indonesia has stockpiled approximately 8 million tons of rice.
On November 27, Minister of Agriculture Amran Sulaiman reiterated the government's target of producing 32 million tons of rice by 2025, as part of its strategic goal to halt rice imports and achieve greater food self-sufficiency.
Earlier, the Indonesian government had planned to import 1 million tons of rice in early 2025 to meet domestic demand, as rice production is expected to decline this year.
According to the Indonesian Statistics Agency (BPS), rice output is projected to fall by 2.43% this year. Arief Prasetyo Adi, head of the National Food Agency (Bapanas), noted that the period from December 2024 to February 2025, the pre-harvest season, will place additional pressure on rice reserves.
In 2023, Indonesia had to import 3.5 million tons of rice due to reduced local production and escalating prices. The government attributed these challenges to the impact of the El Nino weather phenomenon and geopolitical conflicts that resulted in increased protectionism worldwide.
- Read More
Central Vietnam province proposes 3,000 MW LNG-fired power plant
Ha Tinh authorities are proposing a 3,000 MW LNG-fired power plant project, Vung Ang 3, to be built in the central Vietnam province.
Energy - Fri, January 3, 2025 | 10:42 am GMT+7
Vietnam’s leading SOEs set low profit targets on market caution
A number of leading state-owned enterprises in Vietnam have revealed cautious profit targets for 2025, with some forecasting a decrease of up to 70% against 2024.
Companies - Fri, January 3, 2025 | 8:30 am GMT+7
Indonesian middle class shrinks for five straight years
The Indonesian middle class has been shrinking over the past five years, the Jakarta Post reported on Tuesday.
Southeast Asia - Thu, January 2, 2025 | 9:18 pm GMT+7
Singapore's economy growth beats expectations
Singapore’s economy grew faster than expected in 2024, surpassing earlier projections, despite a slowdown in the fourth quarter, according to preliminary government data.
Southeast Asia - Thu, January 2, 2025 | 9:07 pm GMT+7
Thailand business mergers triple in 2024
Mergers surged to THB590 billion ($17.2 billion), almost triple the value recorded in 2023, with transport, medical and insurance sectors leading the growth, the Trade Competition Commission of Thailand (TCCT) reported on Wednesday.
Southeast Asia - Thu, January 2, 2025 | 9:03 pm GMT+7
Novaland bonds can be converted to shares at three times market price
Bondholders of a $300 million international bond package of Vietnam’s real estate developer Novaland must pay more than triple the market price to convert their bonds to shares.
Finance - Thu, January 2, 2025 | 6:26 pm GMT+7
Vietnam offers up to 50% of initial investment costs for semiconductor and AI R&D projects
Vietnam’s Investment Support Fund will offer up to 50% of initial investment costs for semiconductors and artificial intelligence (AI) investors with research & development (R&D) projects.
Industries - Thu, January 2, 2025 | 5:56 pm GMT+7
Vietnam's Bac Ninh province receives $1.67 bln FDI
Vietnam’s northern province of Bac Ninh granted 18 investment registration certificates totaling $1.8 billion on Thursday, including $1.67 billion of foreign direct investment.
Industries - Thu, January 2, 2025 | 4:07 pm GMT+7
Thai IP developer NHA okayed to build $41 mln industrial park in central Vietnam
The Vietnamese government has granted in-principle approval to WHA, Thailand's leading industrial park (IP) developer, to build a 183.4-hectare industrial zone in the central province of Nghe An.
Industrial real estate - Thu, January 2, 2025 | 3:20 pm GMT+7
Vietnam's new order growth in Dec slows to three-month low: S&P
The final month of 2024 saw a loss of momentum in the Vietnamese manufacturing sector, as growth of production and new orders slowed, while firms scaled back employment and inventories, according to S&P Global.
Economy - Thu, January 2, 2025 | 2:28 pm GMT+7
Vietnam to prioritize waste-to-energy projects in adjusted power development plan VIII
Vietnam’s Ministry of Industry and Trade has announced plans to maximize support for waste-to-energy project proposals submitted by local governments.
Infrastructure - Thu, January 2, 2025 | 12:37 pm GMT+7
Vietnam stock market likely to move sideways in H1/2025: expert
Vietnam’s stock market is expected to face challenges in the first half of 2025 after achieving growth for the second consecutive year in 2024, says Tran Hoang Son, director of Market Strategy at VPBank Securities JSC.
Finance - Thu, January 2, 2025 | 9:58 am GMT+7
Vietnam economy overcomes challenges, thrives in 2024: HSBC economist
Vietnam’s economy has successfully navigated challenges and achieved significant growth in 2024, thanks to strong economic fundamentals and government support for key domestic sectors, says Yun Liu, ASEAN market economist at HSBC.
Economy - Thu, January 2, 2025 | 8:48 am GMT+7
Singapore’s Sembcorp to acquire 49 MW hydropower asset in Vietnam in H1/2025
Singapore’s giant Sembcorp Industries is set to complete the acquisition of a 49 MW hydroelectric asset in Vietnam in the first half of 2025, the firm said in a Wednesday statement.
Energy - Thu, January 2, 2025 | 8:00 am GMT+7
Top 10 highlights of Vietnam’s 2024 stock market landscape
Foreign investors net sold to the tune of nearly VND90 trillion ($3.53 billion) in 2024, four times the amount seen in 2023. This is one of the highlights of the Vietnamese stock market landscape in 2024.
Finance - Wed, January 1, 2025 | 10:09 pm GMT+7
Durian, rice record export breakthroughs in 2024
Durian, rice, coffee, and forestry products made strong impressions in terms of exports in 2024, driven by a strategic approach to production, market expansion, and record price hikes.
Economy - Wed, January 1, 2025 | 4:13 pm GMT+7