President Susilo Bambang Yudhoyono is scheduled to officially launch the construction of an integrated tourism area known as Treasure Bay in the Lagoi resort area of Bintan Island, Riau Islands, on Saturday. The construction of site began earlier this year, Bintan Integrated Licensing and Investment Promotion Agency chief Mardhiah said Wednesday.

Jakarta can expect to see 10 new hotels opening this year, ranging from one-star to five-star establishments, all of which are currently under construction, the Jakarta Hotels and Restaurants Association says. Association chairman Krisnadi on Wednesday said that while the average occupancy rates for Jakarta hotels was only around 60 percent he believed the hotel businesses in the capital remained profitable.

VIVAnews - The Indonesian Chamber of Commerce pointed out that matters on energy in household, transportation and industrial sectors must be shortly put into consideration. The agency believes that biogas may become one of the alternatives taking into account its environmentally friendly renewability.

VIVAnews - New economic hub is underway in Indonesia as the government plans to accelerate and expand the national development. Coordinating Minister for the Economy Hatta Rajasa will address the Working Meeting on the Acceleration and Expansion of National Economic Development about the masterplan on February 21-22.

SINGAPORE Feb 23 (Reuters) - Singapore-listed palm oil firm Wilmar International said its planned $900 million investment in Indonesia is likely to be disbursed over three years. "Every year we invest about $200-300 million in Indonesia, so this investment may be spread out over a number of years, possibly three years," chief operating officer Martua Sitorus told Reuters on the sideline of the company's results briefing.

SEOUL Feb 23 (Reuters) - South Korea's Lotte Group is considering investing as much as $5 billion to build a petrochemical plant in Indonesia, a Lotte Group official said on Wednesday, confirming an earlier Reuters report. "The group is mulling investing $3 billion to $5 billion to construct a petrochemical plant on Indonesia's Java island," said Park Sang-sub, the group spokesman, without providing further details.

TEMPO Interactive, Jakarta:Indonesian economy could grow up to 7.6 percent from 2011-2014 if the government increases its spending for transportation infrastructure by 20 percent each a year. Another requirement is that private sector participation should be increased to 50 percent. “This is a logical scenario,” said Standard Chartered Bank Economist, Eric Alexander Sugandi, during a discussion on Indonesia’s Infrastructure Problem yesterday.

TEMPO Interactive, Jakarta:The chairman of the National Soy Council, Benny A. Kusbini, said that the industry sector, especially the small and medium industries, are worried of the food scarcity threat this year. In addition to concerns about its effect on production, it could possibly stop their operation for lack of their raw material. This could also lead to unemployment. According to Benny, this happens because of the high dependence on imported soy.

Jakarta (ANTARA News) - The government will develop biogas technology as an energy source for small and medium scale industries, a senior official said. Director General for Small and Medium Industries Euis Saedah said here on Monday that biogas could serve as a solution to the use of efficient energy for small and medium industrias.

Surabaya, East Java (ANTARA News) - A number of Thai envoys invited private businessmen in East Java for cooperation in agricultural business aimed at strengthening bilateral partnership between the two countries, the Thai Ambassador to Indonesia said here Monday (Feb 21). "One of the cooperation is in agricultural technology," Thanatip Upatising, the Thai Ambassador to Indonesia, said here Monday (Feb 21) when visiting the East Java Indonesian Chamber of Commerce and Industry (Kadin).

Tanjung, S Kalimantan (ANTARA News) - The regency administration of Tabalong, South Kalimantan, has projected a 5.5 percent economic growth in 2011 with a poverty rate decline of an average of 1 percent per year. Head of the Tabalong development plan agency Kiswanul Arifin said the current economic growth rate reached only 51.6 percent with the mining and natural oil sectors highest on the list with a gross regional domestic product growth of 45 percent.

South Korea’s Lotte Group is planning to invest up to $5 billion in a petrochemical project in Banten province, with construction expected to start next year. “We will start the feasibility study to develop a petrochemical project in Merak, Banten province, this year. The investment is estimated to cost between $3 billion to $5 billion,” Lotte chairman Shin Dong-bin told reporters after meeting with President Susilo Bambang Yudhoyono.

Dismissing the findings of a global conference that Turkey would be the next to join the rising economic powers of Brazil, Russia, India and China, analysts said Indonesia had far more potential given its resources and population but needed reforms to stay in the running. According to a vote of about 100 investors at a conference in London hosted by Royal Bank of Scotland, Turkey at 35 percent would be the next to join the BRIC gang, followed by Indonesia (23 percent) and Mexico (16 percent).