Indonesia is embarking on an ambitious biofuel programme which has already attracted more than 17 billion dollars in foreign and domestic investment and criticism from conservationists worried about the country's forests. While Indonesia is rich in oil and gas supplies, demand in Southeast Asia's biggest economy is outpacing production and it is seeking alternative energy sources to secure its future.

Jakarta (ANTARA News) - The Indonesian economy grew by 5.5 percent last year, down by 0.1 percent from a year earlier due to lower-than-expected investment, the Central Bureau of Statistics (BPS) said on Friday. Investment grew by 2.9 percent last year against 10.8 percent in 2005 and 14.6 percent in 2004.

The government is in the process of selecting the winners of last August's tender for the development of 12 oil and gas blocks with potential reserves of between 30 and 400 million barrels of oil equivalent, according to a senior official. "We will soon announce the winners of the contracts after getting approval from the Energy and Mineral Resources Minister," Director General for Oil and Gas Luluk Sumiarso said Friday.

Strengthened by its unique market positioning, PT Mobile-8 Telecom Tbk will see off growing competition from existing operators and foreign entrants to the Indonesian market through a massive network expansion, a senior company executive says. "We will see a number of new players in the telecoms industry commencing operations this year.