The government and state-owned labor insurance firm, PT Jamsostek, have agreed to revise the 2005 regulation on the company's investments to allow it to develop more low-cost housing for workers in industrial zones and urban areas. Manpower and Transmigration Minister Erman Suparno said the review of the regulation is necessary and in line with the government's commitment to focus on improving the welfare of workers.

Singapore-based Aquatico Pte Ltd said on Tuesday (5/12/06) it will invest $15 million in Thames Pam Jaya (TPJ) if the Jakarta administration approves its plan to buy 100% of shares owned by Thames Waters in TPJ. "We will use the $15 million in fresh fund to build water processing installations to produce drinkable water and new pipelines," Rosan P Roeslani, president director of PT Recapital Advisor, which owns Aquatico, was quoted as saying by Antara.

Russian industrial and financial holding Alfa Group plans to invest up to $2 billion in Indonesia's telecommunications sector as well as other sectors, Alfa Bank said in a statement Monday (4/12/06), citing its president Pyotr Aven. Aven met with Indonesian President Susilo Bambang Yudhoyono, who was recently on a visit to Russia.

From January 1, 2007, Indonesia will give investors in certain industries a tax allowance to attract investment to the country, Investment Coordinating Board (BKPM) chairman, Muhammad Lutfi, said Monday (4/12/06). A total of 30% of each investor's realized investment will be deducted from their tax bill, Lutfi said in a speech to a South Korea-Indonesia business gathering. The deduction will be spread over six years, amounting to 5% per annum, he said, according to Dow Jones Newswires.

Jakarta (ANTARA News) - The consumer confidence index in November showed more consumers were optimistic rather than pessimistic about the economy for the first time since July 2005, a Bank Indonesia survey showed. The index was at 101.6 points in November, up from 98.1 points in October, the survey was quoted by XFN-Asia as saying. The index, which measures respondents views on the outlook for the economy last stood above 100 points in June last year.

The lack of coordination among relevant ministries, which in turn leads to overlapping regulations, is primarily to blame for the country's failure to lure investment in the mining sector over the past few years, an official says.

A high-ranking delegation of South Korea's third largest company SK led by chairman Tae Won Chey visited Indonesia recently to explore new business opportunities in the country. Already engaged in 14 countries with its core business in energy and telecommunications, SK is committed to further strengthening its global presence. With a workforce of about 25,000 employees, SK booked a total revenue of about 60 trillion won (about US$65.3 billion) at the end of 2005.