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Fri, 27 Feb 2009
Government sets Rp 90 trillion to promote local products
Businesses may see Rp 90 trillion (US$7.5 billion) in extra demand for domestic products this year, as the government intensifies efforts to bolster the local market amid rapidly declining global demand.
Fri, 27 Feb 2009
Mining law digs up new doubts
Alfian, The Jakarta Post, JAKARTADespite the enactment of the new mining law, Indonesia will probably continue to suffer from a prolonged investment drought in the mining sector, a survey suggests.A recent survey by mining industry consultants PricewaterhouseCoopers (PwC) shows investors conclude...
Fri, 27 Feb 2009
New Idea to Boost Economy: Should Police Wear Batik? The Minister of Industry is sticking to his gu
And use local laptops - i forget the brand, jesus what a shocker.
Fri, 27 Feb 2009
New Idea to Boost Economy: Should Police Wear Batik? The Minister of Industry is sticking to his gu
They should also all be made to drive Indonesian cars and use Indonesian mobile phones.
Fri, 27 Feb 2009
Indonesia still on radar of Malaysian planters
It remains the choice location for oil palm cultivationPETALING JAYA: The current low crude palm oil (CPO) prices and global economic slowdown will not hinder most Malaysian plantation companies from acquiring additional green fields or existing oil palm plantations in Indonesia.
Fri, 27 Feb 2009
Indonesian Biofuels Subsidy Row
ImageThe world's biggest producer of palm oil can't get it together to make biofuelsThe Indonesian government, confronted with a collapse in demand for biofuels and resistance from the state energy company Pertamina to continue to sell biofuels at a loss, is attempting to push a proposal through...
Fri, 27 Feb 2009
National or Global Interest?
ImageIndonesia's macro performance doesn't look that bad – but keep protectionism at bayIndonesian Industry Minister Fahmi Idris and Trade Minister Mari Pangestu are having a row about shoes. Neither of them wants to be in the other one´s shoes but both are treading on each other's feet.
Fri, 27 Feb 2009
New Mining Law Making Straits Asia Suitors Skittish
Preliminary bids for a stake in Indonesia-focused coal miner Straits Asia Resources are due this week, but interest among buyers is ebbing as the deadline looms, deal makers said.Among the worries are questions about Indonesia’s new mining laws.
Fri, 27 Feb 2009
New Idea to Boost Economy: Should Police Wear Batik? The Minister of Industry is sticking to his gu
The Minister of Industry is sticking to his guns about a government policy that requires civil servants to wear Indonesian- made clothing and footwear, despite criticism that the scheme is unfair and unworkable.
Thu, 26 Feb 2009
Mulyani Says She Remains ‘Obsessed’ With Shaking the Up State Bureaucracy
The government, now more than ever, must focus on reform of the civil service, judicial system and security forces in order to attract much-needed foreign investment and spur economic growth, Finance Minister Sri Mulyani Indrawati believes.
Thu, 26 Feb 2009
3 Paddy Seed Firms’ Import Licenses Pulled
Agriculture Ministry officials have barred three hybird paddy seed producers from importing seeds from India and China, saying the three had run out of time to produce and develop seeds domestically, Sutarto Alimoeso, the ministry’s director general of food crops said Wednesday.
Thu, 26 Feb 2009
PT Pos’ Online Financial Network Begins Next Year
TEMPO Interactive, Jakarta:State-owned postal service, PT Pos Indonesia will begin its online financial network next year. “The try-outs started this year,” said PT Pos Indonesia’s deputy director, I Ketut Mardjana, in Jakarta yesterday.
Thu, 26 Feb 2009
Australia Exempts Duty for Indonesian Products
TEMPO Interactive, Jakarta:Indonesian products entering Australia will be charged zero percent dutt during the period of 2009 – 2010. Trade Minister Mari Elka Pangestu said Indonesia will receive rate reduction for textile and footwear products. So far, Indonesian textiles are charged 5 – 17.
Thu, 26 Feb 2009
US eyes Indonesia as key partner
Originally Posted By: biznewsProsperous Switzerland said last week it had chosen Indonesia as one of the priority countries in Asia for development of a new partnership, The Jakarta Post reported. Yes, it's been a long time since Suharto stashed his billions in chocolate land.
Thu, 26 Feb 2009
GM likely to postpone $60M investment
General Motors Corp. (GM) will likely delay a planned $60 million Indonesian investment this year because of difficulties in securing local components, Asia Pulse reported.The local component industry is beset by crisis as a result of weak demand from auto makers, PT General Motor Autoworld...
Thu, 26 Feb 2009
Palm oil ports, oleochemical plants planned for E. Kalimantan
An investor from the United Arab Emirates plans to invest $636.8 million to develop palm oil ports and terminals, railroads and industrial estates in East Kalimantan, Governor Awang Faroek Ishak said, Bisnis Indonesia reported.
Thu, 26 Feb 2009
ASEAN+3 moves to cushion financial meltdown
Finance Ministers of Southeast Asia nations, Japan, China, and South Korea (ASEAN+3) agreed Sunday to prepare precautionary measures aimed at avoiding the region from falling deeper into severe financial meltdown, The Jakarta Post reported.
Thu, 26 Feb 2009
Low resources prices depress growth
Poor prices for minerals and agricultural products depressed growth during the fourth quarter, when growth was recorded at 5.4%, while full-year 2008 came in at 6.1%, the Central Bureau of Statistics (BPS) reported last week.
Thu, 26 Feb 2009
US eyes Indonesia as key partner
With its giant population and moderate brand of Islam, Indonesia is fast emerging as a cornerstone US partner for President Barack Obama's administration, observers say, following the visit to Indonesia of the top US diplomat, Agence France-Presse reported.
Thu, 26 Feb 2009
Govt to regulate minimum coal selling prices
Alfian, The Jakarta Post, Jakarta To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing index which will set the minimum selling prices required for producers.
Thu, 26 Feb 2009
RI still underestimates marine potential
Indonesia is still yet to capitalize on the economic potential of its marine environment, Maritime Affairs and Fisheries Minister Freddy Numberi told a seminar in Jakarta on Wednesday.“We are still restricted by a land-based approach which emphasizes the potential of utilizing land for profit,”...
Thu, 26 Feb 2009
Free-Trade Deal With NZ, Australia Ready for Signing
The Association of Southeast Asian Nations, or Asean, is set to ink a free-trade agreement today with Australia and New Zealand. The deal, dubbed AANZ-FTA, is expected to remove import duties worth $2.95 billion annually on Indonesian exports to Australasia this October, and will see tariffs...
Wed, 25 Feb 2009
Anti-Graft Czar: Will Take Up To 20 Yrs To Clean Up Indonesia
Originally Posted By: kenyeungOriginally Posted By: KuKuKaChuin 1994-1995, involving myself, the then head of BKPM Theo TeomionJust a moment. Theo Toemion was head of BKPM from June 2001 to May 2005. Prior to being given the BKPM top job (at the behest of Mega) he was occupied in the DPR, dealing...
Wed, 25 Feb 2009
Anti-Graft Czar: Will Take Up To 20 Yrs To Clean Up Indonesia
Originally Posted By: KuKuKaChuin 1994-1995, involving myself, the then head of BKPM Theo TeomionJust a moment. Theo Toemion was head of BKPM from June 2001 to May 2005. Prior to being given the BKPM top job (at the behest of Mega) he was occupied in the DPR, dealing with BI amendment and PDIP...
Wed, 25 Feb 2009
Anti-Graft Czar: Will Take Up To 20 Yrs To Clean Up Indonesia
i have personally experienced KPK backing down in the face of pressure, in 1994-1995, involving myself, the then head of BKPM Theo Teomion, the direktur-jendral of immigration, and the head of the Foreigners Supervisory division of the immigration office.
Wed, 25 Feb 2009
Anti-Graft Czar: Will Take Up To 20 Yrs To Clean Up Indonesia
Quote:Azhar denied anyone is untouchable in Indonesia, saying the dearth of so- called "big fish" being caught was due to the difficulty of proving corruption cases."For example even if I strongly suspect you're corrupt, I just can't arrest you as I please.
Wed, 25 Feb 2009
Anti-Graft Czar: Will Take Up To 20 Yrs To Clean Up Indonesia
JAKARTA (AFP)--He counts lawmakers and senior officials among his scalps but Indonesia's anti-corruption chief says it could be 20 years before graft entrenched at all levels of government has been cleaned up.
Wed, 25 Feb 2009
Investment jumps 61% in January
The Jakarta Post, JAKARTA The global financial crisis has yet to derail flows of investment into Indonesia, as foreign investment in January jumped by 61 percent from a year earlier.Foreign direct investment (FDI) in the first month of the year reached US$710 million, far more than the $440 million...
Wed, 25 Feb 2009
Rio Tinto says committed to Indonesia nickel project
JAKARTA, Feb 24 (Reuters) - The Indonesian unit of Rio Tinto Ltd/Plc (RIO.AX)(RIO.L) remains committed to a $2 billion nickel project in Indonesia's Sulawesi island, although is waiting for more clarity under a new mining law, an executive said on Tuesday.
Wed, 25 Feb 2009
Minister says difficult for industries to expand this year
Jakarta (ANTARA News) - Industry minister Fahmi Idris said it would be difficult for industries in the country to expand this year in view of low credit growth.He said here on Tuesday that the national credit growth this year was expected to reach only around 15 percent compared to 31 percent last...
Wed, 25 Feb 2009
Domestic investment predicted to be higher than FDI
Jakarta (ANTARA News) - Indonesia`s Capital Investment Coordinating Board (BKPM) predicts the growth of domestic capital investment in the country would be higher this year than that of foreign directl investment (FDI).
Wed, 25 Feb 2009
Kuwaiti Oil Firm to Invest $300MM for Increase in Indonesian Output
There is something here they are not being straight about. They never mentioned that they sold their majority shareholding of their Bula field operations to the Chinese (CITIC) and that the field is in severe decline.
Wed, 25 Feb 2009
Indonesia investment agency says FDI jumps 61 pct in Jan
JAKARTA, Feb 24 (Reuters) - Foreign direct investment in Indonesia jumped 61 percent to 6.39 trillion rupiah ($536 million) in January from a year ago, the state investment agency said on Tuesday, despite the global economic downturn.
Wed, 25 Feb 2009
Firm Legal Ground Needed to Boost Foreign Investment: Australian Miners
Australian mining companies are still interested in digging minerals in Indonesia, despite uncertainties surrounding the country’s new Mining Law, social issues, and tax and fiscal regimes, Australian mining representatives said on Tuesday.
Wed, 25 Feb 2009
Mining Law Additions to Be Set by July
The Energy and Mineral Resources Ministry expects implementing regulations for the recently enacted Mining Law to be ready by July at the latest, hopefully clearing the way for a resumption of investment in the sector.
Wed, 25 Feb 2009
Government Scrambles to Find New Power Investors
The central government is desperately seeking new investors, including from the Middle East, to finance its stalled $8 billion “fast-track” energy expansion program, after a consortium of Chinese banks - the major backers of the progra m - apparently dropped out due to a separate trade dispute...
Wed, 25 Feb 2009
Kuwaiti Oil Firm to Invest $300MM for Increase in Indonesian Output
Xinhua News Agency The Kuwaiti oil and gas company KUPPEC, a subsidiary of Kuwaiti Petroleum Corporation, would invest another US $200 to $300 million in Indonesia within 2 to 3 years, a KUPPEC top official said here Tuesday.KUPPEC Deputy Managing Director A.
Wed, 25 Feb 2009
Batam cries out for mental asylum amid crisis
Batam, an island where the government plans to adopt China’s strategy to attract global investment by building a special economic zone is home to an increasing amount of people with various kinds of mental illness, a problem that will only worsen as the global economy plunges into crisis, an...
Wed, 25 Feb 2009
PGE to invest US$130 mln in geothermal power projects
Jakarta (ANTARA News/Asia Pulse) - PT Pertamina Geothermal Energy (PGE) has said it will spend US$130 million this year to finance development of a number of geothermal power projects.PGE President Abadi Poernomo said the subsidiary of state oil and gas company PT Pertamina was now developing the...
Tue, 24 Feb 2009
Indonesia and The Netherlands to Cooperate in Legal Sector
TEMPO Interactive, Jakarta:Indonesia and the Netherlands have agreed to the signing of an MoU in the legal sector.The MoU was signed by Indonesian Justice and Human Rights Minister Andi Mattalata and the Netherlands’ Justice Minister E.M.H. Hirsch Ballin in Jakarta yesterday (23/2).
Tue, 24 Feb 2009
Banten Targets Rp10.8 Trillion Investment
TEMPO Interactive, Serang:The Banten Province is targeting Rp10.8 trillion in investments from foreign or national companies.Muhamamd Husni Hasan, Regional Investment Coordinating Board (BKPMD) chairman, said he was convinced that investors’ interest in the province was still high.
Tue, 24 Feb 2009
Japan Mulls Importing More Indonesian Textiles
Japan Mulls Importing More Indonesian Textilesby Dian AriffahmiJapan is looking to Indonesia to supply more textiles and clothes in an effort to reduce its dependence on Chinese exports, a senior Japanese official said on Monday.
Tue, 24 Feb 2009
Minister Expects Higher Mineral Output This Year
Indonesia is prepared to literally dig its way out of its fiscal problems, aiming to increase production of all its key mining products, including gold, copper and nickel, Energy and Mineral Resources Minister Purnomo Yusgiantoro told legislators on Monday.
Tue, 24 Feb 2009
PGE Going Geothermal in Lahendong
Lahendong, North Sulawesi. PT Pertamina’s geothermal subsidiary plans to invest $90 million in geothermal-fired power plants producing 40 megawatts of power in Lahendong, North Sulawesi Province, by 2012, Abadi Poernomo, the president director of PT Pertamina Geothermal Energy, or PGE, said on...
Tue, 24 Feb 2009
Indonesia clamps down on steel imports to protect local market
JAKARTA, Feb 20 (Reuters) - Indonesia has issued a regulation to protect its domestic steel industry from illegal steel imports, officials said on Friday, at a time when the government it promoting local goods to drive economic growth.
Tue, 24 Feb 2009
Pride and economic sustainability
When will Indonesia have a globally recognized internet and technology company? This is a difficult question to answer, because our governments have focused mostly on the natural resources sector. Many incentives and initiatives backed by the government are directed to the energy and agriculture...
Tue, 24 Feb 2009
Import duties varied to help real sector
Aditya Suharmoko, THE JAKARTA POST, JAKARTA The government has accelerated the planned revision of import duties for certain group of products to help protect Indonesia’s real sector from the negative impact of the global economic crisis, the Finance Ministry said in a statement Friday.
Thu, 19 Feb 2009
Talks explore free trade agreement with Indonesia
The Trade Minister, Simon Crean, will today meet Indonesian officials in a bid to open up trade between the two countries.Mr Crean says he's concerned by the increasing number of countries moving towards protectionism.
Thu, 19 Feb 2009
Furniture Makers Want Cash, Not Tax Cuts
A leader of Indonesia’s furniture and craft industry, one of the world’s biggest, complained on Wednesday that the government’s plan to provide the industry with tax incentives would not be effective, saying instead that most of the companies involved needed direct cash infusions if they were...
Thu, 19 Feb 2009
Indonesia reopens peatland to palm oil plantation
• Government says tighter controls on peatland permits have been set• Campaigners warn of rise in greenhouse gas emissions from land clearanceIndonesia today acknowledged it had quietly lifted a year-long freeze on the use of peat land for palm oil plantations, fuelling fears of a rise in...