Mataram (ANTARA News/Asia Pulse) - The biggest state-owned company in Dubai, Emaar Properties LLC Dubai, has been speeding up the realization of its investment in a US$600-700 million integrated tourist zone in the Indonesian province of Central Lombok, West Nusa Tenggara. "Emaar is speeding up the drawing up of a master plan of the project," said M.

Jakarta (ANTARA News) - Vice President Jusuf Kalla here Friday assured South Korean and Indonesian businessmen that the government was seriously fighting corruption in the country. "As we all know, two days ago, the Corruption Eradication Commission (KPK) arrested a legislator at this hotel for alleged corruption," Kalla said when opening an Indonesia-South Korea Business Forum at the Ritz Carlton Hotel.

Brisbane (ANTARA News) - The Indonesian consulate general in Sydney and national flag carrier Garuda Indonesia will jointly organize a tourism promotion event called "Discover Indonesia" for Australian tourism operators and mass media. Intended to support the Visit Indonesia 2008 program, the promotional event would be held for two weeks starting late July 2008, Pratito Soeharyo, minister counselor at the consulate, said here Friday.

Jeddah (ANTARA News) - Dr. Ahmed Mohammed Ali, President of the Islamic Development Bank (IDB) received here last Wednesday Indonesian President`s Special Envoy for the Middle East Alwi Shihab. The IDB President was briefed on the results of the conference on "Investment opportunities in Indonesia," organized by the Indonesian government last month in Dubai.

President Susilo Bambang Yudhoyono is set to open a regional investment forum in late May, designed to attract foreign and local investors in development projects across the country. The Indonesian Regional Investment Forum, which will take place at the Ritz-Carlton in the Sudirman Central Business District in South Jakarta on May 26 and 27, is expected to secure at least US$6 billion, the organizer said Thursday.

The world’s largest steelmaker Arcelor Mittal plans to team up with state-owned PT Aneka Tambang (Antam) and PT Krakatau Steel to develop mines and a steel plant at a total investment of at least US$3 billion. The plan was announced by the Investment Coordinating Board (BKPM) following a visit by CEO Lakshmi Mittal to the State Palace Thursday to discuss the investment plan with President Susilo Bambang Yudhoyono.

A panel of speakers at the fourth Asian Mining Congress in Singapore said Indonesia was still perceived as high-risk to current and potential industry investors. There were three main points of concern raised during the discussion. The first was the negative impacts of decentralization, which has caused an overlapping of authority with the central government and the local government. Discussed second was the amendment process of mining law, which started in early 2005.

The business community on Wednesday praised the newly endorsed shipping bill, saying it would improve export and import activities and give private sector players more opportunities to engage in port and shipping businesses. The Indonesian Chamber of Commerce and Industry (Kadin)'s deputy chairman for transportation, Chris Kanter, told The Jakarta Post on Wednesday the bill would make port operations more efficient after years of inefficiency.