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Indonesia, G20 Presidency of 2022

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Indonesia, G20 Presidency of 2022

Indonesia, G20 Presidency of 2022

On October 31, 2021 Indonesia officially became the presidency to the Group of Twenty (G20) since Italy (as the G20 Presidency of 2021) handed over the presidency to Indonesia in Rome, Italy. Indonesia will become the presidency of G20 for a full year in 2022, beginning on December 1, 2021.

The theme of the G20 presidency is "Recover Together, Recover Stronger." Indonesia, through this theme, invites the entire world to work together to achieve a stronger and more sustainable recovery. The more integrated the global economy, the more successful a country's response to the pandemic and economic recovery will be if it is not followed by similar success in other countries. Indonesia has the opportunity to encourage the world's collective efforts through the G20 forum.

Three big benefits for Indonesia by becoming the G20 Presidency, namely the economic benefits, social and political development. From an economic point of view, some direct benefits projected to be achieved by becoming the G20 Presidency (especially if meetings are carried out physically)

The G20's True Authentic Roles

  1. Handling the Global Financial Crisis of 2008
    One of the G20's most notable achievements was its assistance in overcoming the 2008 global financial crisis. The G20 has also altered the face of global financial governance by launching large-scale coordinated fiscal and monetary stimulus packages. The G20 also encourages the IMF and other major development banks to increase their borrowing capacity. The G20 is credited with getting the world back on track for growth, as well as pushing for important financial reforms.
  2. Taxation Policy.
    The G20 has prompted the OECD to advance the exchange of tax-related data. The G20 produced the precursor to the OECD's Base Erosion and Profit Shifting (BEPS) report in 2012, which was later finalized in 2015. Currently, 139 countries and jurisdictions are cooperating to combat tax evasion through BEPS.
  3. Contribution to the control of the global epidemic Covid-19. 
    Deferral of foreign debt payments for low-income countries, injection of Covid-19 handling of more than $5 trillion USD (Riyadh Declaration), reduction/abolition of import duties and taxes, reduced duties on vaccines, hand sanitizers, disinfectants, medical devices, and drugs are among G20 initiatives in dealing with the pandemic.
  4. Other Issues.
    G20 also has important role on other international issues, including international trading, climate, and development. On 2016 a new collective principle which related to international investment. G20 also has support the political movement which had peaking on the Paris Agreement on Climate change on 2015. And the 2030 agenda for sustainable development.

The three major issues that will be addressed during Indonesia's G20 presidency are as follows

  1. Global Health Architecture
  2. Economic and digital transformation
  3. Energy Transition

The following are the pillars of Indonesia's G20 presidency in 2022:

  1. Strengthen the partnership environment.
  2. Enhance productivity.
  3. Increase the durability and reliability.
  4. Ensure long-term, inclusive growth.
  5. Strengthen the global collective leadership.

Finance Track Priority Agenda of Indonesian G20 Presidency in 2022:

  1. Exit Strategy to Support Recovery
    Discussing how G20 will protect member countries on the road to economic recovery (particularly developing economies) from the spillover effect of exit policies in countries further along their economic recovery journey (typically advanced economies).
  2. Addressing the Scarring Effect to Secure Future Growth
    Addressing the scarring effect of the crisis to increase productivity and growth in the long term, while paying due attention to the labour market, households, corporate sector and financial sector.
  3. Payment System in Digital Era
    Standardising cross-border payments (CBP) as well as the General Principles for Developing CBDC.
  4. Sustainable Finance
    Discussing climate risk and the risk of transitioning towards a low carbon economy as well as sustainable finance from a macroeconomic and financial stability perspective.
  5. Digital Financial Inclusion
    Utilising open banking to increase productivity, as well as support the economy and financial inclusion for underserved communities, such as women, young people and MSMEs, including cross-border aspects.
  6. International Taxation
    Discussing international taxation, particularly implementation of the joint OECD/G20 inclusive framework on tax planning strategies known as Base Erosion and Profit Sharing (BEPS).

The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. Spain is also invited as a permanent guest.

The Summit meeting will be take place in Bali, by November 2022.

Source:
Presidensi G20 Indonesia 2022,
https://www.bi.go.id/id/G20/Default.aspx#sejarah-pendirian.

Translated and Posted By Derry Khudlori

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NG Global Care and Share for Yayasan Sayap Ibu Foundation Jakarta

NG Global Care intends to support Yayasan Sayap Ibu’s mission to carry out i­n­t­e­g­r­a­t­e­d­ and s­u­s­t­a­i­n­a­b­l­e­ h­o­l­i­s­t­i­c­ child w­e­l­f­a­r­e­, i­n­i­t­i­a­l­l­y­ aimed at helping and taking care of Small C­h­i­l­d­r­e­n­ who either have no parents or have been left alone by their family to look after t­h­e­m­s­e­l­v­e­s­. Sayap Ibu F­o­u­n­d­a­t­i­o­n­ needs support and d­o­n­a­t­i­o­n­s­ from all of us in the form of funds, g­r­o­c­e­r­i­e­s­, d­i­s­a­b­i­l­i­t­y­ aids, c­l­o­t­h­i­n­g­, medical s­u­p­p­l­i­e­s­ such as v­i­t­a­m­i­n­s­ and other m­e­d­i­c­i­n­e­s­ to help support all their c­h­i­l­d­r­e­n­s­ needs. In a­d­d­i­t­i­o­n­ to their i­m­m­e­d­i­a­t­e­ needs, the Sayap Ibu F­o­u­n­d­a­t­i­o­n­ put great e­m­p­h­a­s­i­s­ on e­d­u­c­a­t­i­o­n­. This is not just

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NG Global Care And Share for Rumah Yatim Foundation Jakarta
NG Global Care And Share for Rumah Yatim Foundation Jakarta

NG Global Care has made several c­o­m­m­i­t­m­e­n­t­s­ to c­h­a­r­i­t­i­e­s­ from d­i­f­f­e­r­e­n­t­ parts of the world and are p­r­o­v­i­d­i­n­g­ much needed care and a­s­s­i­s­t­a­n­c­e­. We believe it is our r­e­s­p­o­n­s­i­b­i­l­i­t­y­ to help those who are less f­o­r­t­u­n­a­t­e­ than o­u­r­s­e­l­v­e­s­ and to bring much needed help where we can. Rumah Yatim F­o­u­n­d­a­t­i­o­n­ has several p­r­o­g­r­a­m­s­ in I­n­d­o­n­e­s­i­a­ to help those in need, such as their e­d­u­c­a­t­i­o­n­ p­r­o­g­r­a­m­s­, i­n­d­e­p­e­n­d­e­n­c­e­ for orphans and poor people, da'wah, h­u­m­a­n­i­t­y­, e­c­o­n­o­m­y­, health and e­m­p­o­w­e­r­m­e­n­t­. Every child d­e­s­e­r­v­e­s­ to be safe, p­r­o­t­e­c­t­e­d­ and loved. Here in Jakarta I­n­d­o­n­e­s­i­a­, NG Global Care are working in c­o­n­j­u­n­c­t­i­o­n­ with the Rumah

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Indonesia Residency by Investment
Indonesia Residency by Investment

When you have found a country that offers i­m­m­i­g­r­a­t­i­o­n­ through an i­n­v­e­s­t­m­e­n­t­ and is c­o­n­s­i­d­e­r­e­d­ s­u­i­t­a­b­l­e­ for b­u­s­i­n­e­s­s­ a­c­t­i­v­i­t­i­e­s­, making a visa becomes a very n­e­c­e­s­s­a­r­y­ and basic thing. When a foreign e­n­t­r­e­p­r­e­n­e­u­r­ already has a limited stay visa, namely C13 or C14 for foreign i­n­v­e­s­t­m­e­n­t­ a­c­t­i­v­i­t­i­e­s­ in I­n­d­o­n­e­s­i­a­ and has applied for a certain number of years for a p­e­r­m­a­n­e­n­t­ r­e­s­i­d­e­n­c­e­, the e­n­t­r­e­p­r­e­n­e­u­r­ will be e­n­t­i­t­l­e­d­ to reside in I­n­d­o­n­e­s­i­a­. B­a­s­i­c­a­l­l­y­, the I­n­d­o­n­e­s­i­a­ R­e­s­i­d­e­n­c­e­ by I­n­v­e­s­t­m­e­n­t­ program runs side by side with the citizen by i­n­v­e­s­t­m­e­n­t­ p­r­o­g­r­a­m­, where in the end p­e­r­m­a­n­e­n­t­ r­e­s­i­d­e­n­t­s­ also lead to c­i­t­i­z­e­n­s­h­i­p­ but it

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Caribbean Citizenship by Investment
Unlocking the Potential of Caribbean Citizenship by Investment

The C­a­r­i­b­b­e­a­n­ offers a unique o­p­p­o­r­t­u­n­i­t­y­ for i­n­d­i­v­i­d­u­a­l­s­ seeking a second c­i­t­i­z­e­n­s­h­i­p­ through i­n­v­e­s­t­m­e­n­t­. The r­e­g­i­o­n­'s­ C­i­t­i­z­e­n­s­h­i­p­ by I­n­v­e­s­t­m­e­n­t­ (CBI) p­r­o­g­r­a­m­s­ are not only a gateway to global m­o­b­i­l­i­t­y­ but also a chance to be part of v­i­b­r­a­n­t­, c­u­l­t­u­r­a­l­l­y­ rich c­o­m­m­u­n­i­t­i­e­s­. This article e­x­p­l­o­r­e­s­ the CBI p­r­o­g­r­a­m­s­ of Saint Kitts and Nevis, Saint Lucia, D­o­m­i­n­i­c­a­, Antigua and B­a­r­b­u­d­a­, and G­r­e­n­a­d­a­, h­i­g­h­l­i­g­h­t­i­n­g­ their unique f­e­a­t­u­r­e­s­ and b­e­n­e­f­i­t­s­. Saint Kitts and Nevis: A Pioneer in CBI P­r­o­g­r­a­m­s­S­o­u­r­c­e­ : i­s­t­o­c­k­p­h­o­t­o­.c­o­m­S­a­i­n­t­ Kitts and Nevis, known for its b­e­a­u­t­i­f­u­l­ l­a­n­d­s­c­a­p­e­s­ and e­c­o­n­o­m­i­c­ s­t­a­b­i­l­i­t­y­, was the first to i­n­t­r­o­d­u­c­e­ CBI p­r­o­g­r­a­m­s­ in 1984. The program offers

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