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Tue, 31 Aug 2010
South Korean Tire Firm Eyes $1.2 Billion Indonesia Plant: Report
Jakarta. South Korea’s biggest tire producer Hankook Tire plans to invest 1.2 billion dollars to build a manufacturing plant in Indonesia, a report said Thursday.The Seoul-based company aims to start construction at the end of the year and produce 15 million tyres annually, Indonesia Investment...
Tue, 31 Aug 2010
Retailers Looking Forward to Bumper Holiday Spending
Jakarta. With a little help from seasonal spending around the Idul Fitri holiday, nationwide retail sales were expected to surge by about 18 percent this year, the Association of Indonesian Retailers said on Monday.
Tue, 31 Aug 2010
Govt speeds up building Cikarang-Priok railroad track
Jakarta (ANTARA News) - The government is speeding up the construction of the railroad track between Tanjung Priok port and Cikarang Dry Port integrated customs area (KPPT) to smoothen the dispatch of goods, and raise productivity and industrial capacity.
Tue, 31 Aug 2010
RI, Turkey agree to form infrastructure fund
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono on Monday received a Turkish delegation who came to confirm their country`s commitment to form infrastructure fund with Indonesia.At the meeting with the delegation led by Turkish Ambassador to Indonesia Aydin Evirgen, the President...
Tue, 31 Aug 2010
Bali-China foreign trade suffers a deficit
Denpasar, Bali (ANTARA News) - Bali`s foreign trade of goods, handicrafts and non-oil and gas to China including Hong Kong in early 2010 was a deficit about 1 million US dollars.The head of Bank Indonesia Denpasar chapter Jeffrey Kairupan said in the Bali regional economic report on Monday that the...
Tue, 31 Aug 2010
Govt to invite investors to manage Jakarta's international airport
From VivaAir Asia Eyeing Halim AirportVIVAnews - The Ministry of State-owned Enterprises (SOEs) acknowledged that Malaysia-based airline Air Asia states its interest to patch up an airport in Indonesia. One of the targets is Halim Perdanakusumah Airport.
Tue, 31 Aug 2010
Govt to invite investors to manage Jakarta's international airport
Jakarta (ANTARA News) - The government is planning to invite a number of foreign investors to manage service facilities at Jakarta city`s Soekarno-Hatta airport, a minister said."We will invite interested investors to serve as partners to manage the airport," State Enterprises Minister...
Tue, 31 Aug 2010
CJ Cheiljedang to spend us$300 mln on lysine plant Indonesia
Seoul (ANTARA News/Yonhap/OANA) - CJ CheilJedang Corp., South Korea`s biggest food company, said Monday that it will spend US$300 million to build a lysine plant in the eastern part of the island of Java, Indonesia.Earlier in the day, CJ CheilJedang broke ground on the plant in Jombang.
Mon, 30 Aug 2010
With First Phase Nearly Done, Boost Expected From Port Rail
Jakarta. The first phase of construction on a much-needed railway connecting Tanjung Priok Port with the country’s largest manufacturing park could be completed within three months, the coordinating minister for the economy, Hatta Rajasa, said on Saturday.
Mon, 30 Aug 2010
RI`s electricity basic tariff rate highest in ASEAN
Jakarta (ANTARA News) - Electricity basic tariff rate (TDL) in Indonesia is the highest among ASEAN countries, Golkar Party chairman Aburizal Bakrie has said.Therefore he said Golkar strongly rejected the government`s plan to raise TDL in 2011.
Fri, 27 Aug 2010
Indonesia and Singapore: model of inter-dependence?
Indonesia is the sleeping giant of South East Asia. With a population of 288 million, a land mass the size of Mexico and territorial waters that could fill half of China, it’s an immense country and a regional power within the geopolitical organization known as ASEAN (the Association of South...
Fri, 27 Aug 2010
Draft Law to Promote Clean Energy Gathering Steam
This is a great move on behave of the energy minister, but a 5 percent tax cut over 6 years alone will not defeat the big dirty oil and coal industries. And if indonesia decides to exhaust all its remaining oil and coal, while shifting to cleaner renewables, there will still be disastrous impacts...
Fri, 27 Aug 2010
Factory Exports Near Pre-Crisis Levels: Govt
Jakarta. The value of major manufactured exports jumped dramatically in the first half of the year, and the full-year totals could equal those seen in 2008, before the global financial crisis sent the world economy into a tailspin, a senior government trade official said on Thursday.
Fri, 27 Aug 2010
RI's forex reserves rise sharply
Mataram, W Nusa Tenggara (ANTARA News) - Indonesia`s foreign exchange reserves rose significantly in recent months, suggesting that the domestic economy continued to expand at a robust pace, a central bank official said on Thursday.
Fri, 27 Aug 2010
RI's textile, textile product exports up 17.4 pct
Jakarta (ANTARA News) - Indonesia`s textile and textile product exports grew by 17.4 percent in the first semester of this year, Deputy Trade Minister Mahendra Siregar said here on Thursday.He said the country`s exports of textile and textile products reached US$4.95 billion in the period.
Thu, 26 Aug 2010
Adani to invest $1.6bn in Indonesia
Adani Group, the Indian conglomerate, has signed a preliminary agreement in Indonesia to build a railway line and coal terminal in remote southern Sumatra.The Indonesian Investment Co-ordination Board said on Wednesday that Adani would invest $1.
Thu, 26 Aug 2010
Indonesia Says Economy May Grow 6% as Demand, Investment Rise
Aug. 26 (Bloomberg) -- Indonesia’s economy may grow 6 percent this year and will probably accelerate in 2011, Trade Minister Mari Pangestu said.The pace of expansion in the third and fourth quarters should “continue to pick up” in part because disbursement from the government’s budget “is...
Thu, 26 Aug 2010
Malaysian Top Companies in Indonesia
VIVAnews - Indonesia and Malaysia are now amidst the escalating tension affecting the political relations of both countries. Malaysian Minister of Foreign Affairs is ready to issue a travel advisory for the citizens of Malaysia who are willing to visit Indonesia.
Thu, 26 Aug 2010
Indonesian health equipment market worth Rp22 trillion
Jakarta (ANTARA News) - Indonesia`s health equipment market is worth Rp22 trillion but it is still dominated by foreign products, according to the Association of Indonesian Health and Laboratory Equipment Traders.
Thu, 26 Aug 2010
ASEAN economic ministers to conduct joint investment promotions
Jakarta (ANTARA News) - ASEAN economic ministers have agreed to facilitate investment inflows to the region by conducting joint investment promotion campaigns, the Indonesian Trade Ministry said.At the 13th meeting of the ASEAN Investment Area (AIA) held in Da Nang, Vietnam, from August 24 to 27,...
Thu, 26 Aug 2010
Panasonic Plans Hub in Indonesia
Jakarta. In a meeting with President Susilo Bambang Yudhoyono in Jakarta on Wednesday, the head of Japanese consumer electronics giant Panasonic confirmed that it planned to move its production base to Indonesia, senior Indonesian government officials said.
Tue, 24 Aug 2010
Energy Department Launches Renewables Directorate
TEMPO Interactive, Jakarta: The Energy and Mineral Department has unveiled today a new directorate which will in charge on the new field of energy which had not received the size of emphasize before, the renewables.
Tue, 24 Aug 2010
Food, Cosmetics Producers Rocked by Trade Pact
Jakarta. Many domestic producers of food, beverages and cosmetics have been battered by the Asean-China Trade Agreement and are choosing to import products and sell them rather than produce them, the Indonesian Employers’ Association (Apindo) says.
Mon, 23 Aug 2010
Pertamina geothermal in need of rp18 trillion to build 1000 Mw
Jakarta (ANTARA News) - PT Pertamina Geothermal Energy (PGE), a subsidiary of state oil and gas company PT Pertamina, needed US$2 billion, the equivalent of Rp18 trillion, to build a geothermal power plant with an installed capacity of 1,000 megawatts.
Mon, 23 Aug 2010
Indonesia's Net boom goes mobile
Surge in handset connectivity brings cheer, fearJAKARTA: Mr Syarief Maulana, who works for a non-governmental organisation, is constantly in the loop - he uses his BlackBerry smartphone to check his email, news websites and his Facebook account multiple times each day.
Mon, 23 Aug 2010
Praise for Subsidy Cuts, Mixed With Concern Over Rising Costs
Jakarta. Since its release last week, analysts have lauded the 2011 state budget draft for cutting subsidies to make way for development spending, but some in the business community fear the cuts may be too much, too fast.Subsidies have been slashed 8.2 percent in the draft to Rp 184.
Mon, 23 Aug 2010
Huge opportunity from Japanese investment
In mid-July, the Japan Credit Rating Agency, Ltd. (JCR) raised Indonesia’s rating to investment grade, which reflects growing confidence in the management of Southeast Asia’s largest economy, which has proved resilient.
Sat, 21 Aug 2010
Gritty reality beneath the gloss
INDONESIA'S growth spurt over the past year has turned it into a success story of sorts for the region and the flavour of the month for foreign and local investors.Media reports across the world have praised the country's rise from the pits of authoritarian government, economic crisis and political...
Sat, 21 Aug 2010
Itochu to Build an Rp18 Trillion Railway Line
TEMPO Interactive, Jakarta:The Itochu Corporation, a Japanese investor, plans to invest around US$2 billion or equal to Rp18 trillion to build a railway line in Central Kalimantan.The construction is expected to facilitate commodity transport.
Sat, 21 Aug 2010
Bali`s exports to China, Hong Kong constantly increasing
Denpasar, Bali (ANTARA News) - Bali province`s handicraft and other non-oil/non-gas exports to China and Hong Kong have been increasing continuously reaching an average value of US$ 3.5 million per month or a total of US$ 17.1 million in the January-May period in 2010.
Sat, 21 Aug 2010
Indonesia, Australia to Sign FTA
VIVAnews - Indonesia will in no time sign a bilateral free trade agreement with several other countries such as Australia, New Zealand, India, and Chile. The joint study group to the countries has been prepared.
Fri, 20 Aug 2010
S`pore to increase economic cooperation with Riau islands
Tanjungpinang, Riau Islands (ANTARA News) - Singapore will increase its cooperation with the Indonesian province of Riau Islands particularly the Bintan, Batam and Karimun free trade zones, Singapore minister Zainul Abidin Rasheed said.
Fri, 20 Aug 2010
Asian regionalism and RI’s comparative advantage
Undeniably, we’re heading towards the globalization of world trade. At the same time countries face challenges other than globalization: regionalism and bilateralism. Indonesia simultaneously faces different levels of trade liberalization, whether at the global (World Trade Organization or WTO),...
Thu, 19 Aug 2010
Indonesian gov't invites private sector to build 14 new airports
Indonesia's Transportation Minister Freddy Numberi said on Wednesday that the government encourages private sector to take part in the construction of 14 new it planned to build starting next year. "Principally if the private sector wants to join, just go ahead, " Freddy said.
Thu, 19 Aug 2010
Government Move to Cut Infrastructure Red Tape Hailed by Businesses
Businesses have welcomed a new government strategy to eliminate bureaucratic hurdles that have stunted the pace of infrastructure development.The government on Wednesday transferred the marketing and registration duties for public-private partnerships from the National Development Planning Agency...
Thu, 19 Aug 2010
Indonesia fiscal officers being prepared for overseas service
Jakarta (ANTARA News) - The Indonesian government has begun preparing the stationing of fiscal officers at its overseas missions to ensure optimum collection of state revenue from taxable subjects or activities in foreign countries, a spokesman said.
Wed, 18 Aug 2010
Businesses Say Another Electricity Rate Hike Could ‘Kill’ Competitive Advantage
Jakarta. Fresh on the heels of July’s unpopular electricity rate hikes, the government’s announcement on Monday of a fresh set of rises early next year immediately drew more anger from the business community.
Wed, 18 Aug 2010
Yudhoyono Gets Backlash for Plain Speech
TEMPO Interactive, Jakarta: Political oppositions, whether official or conjunctural, has dismissed President Susilo Bambang Yudhoyono's annual state address before the parliament to mark the independece day at the beginning of this week as unconvincing "camouflage" which failed to...
Wed, 18 Aug 2010
Indonesia expected to draw investment of $22.3 bln next year
JAKARTA, Aug. 18 (Xinhua) -- Indonesia's Investment Coordinating Board targeted to draw an investment of more than 200 trillion rupiah (about 22.3 billion U.S. dollars) next year, increasing 15 percent compared to this year, Bisnis Indonesia daily quoted an official as saying on Wednesday.
Wed, 18 Aug 2010
Indonesia`s exports may decline next year
Jakarta (ANTARA News) - Indonesia`s next year`s export growth may reached only 8.3 percent, while this year`s growth has reached 12.2 percent.Minister of Trade Mari Elka Pangestu told a press conference on the Financial Note and the 2011 Draft State Budget at her office in Jakarta Monday night that...
Mon, 16 Aug 2010
Indonesia president eyes 7.7 pct GDP growth by 2014
JAKARTA, Aug 16 (Reuters) - Indonesia's President SusiloBambang Yudhoyono said in an annual state of the nation speechon Monday he is optimistic of reaching a target of as much as7.7 percent GDP growth by 2014.
Mon, 16 Aug 2010
New Indonesian Steel Mill to See Exports Up, Imports Down
Indonesia. Indonesia will see its dependence on imported steel fall and its exports rise with the completion of a new state-run steel mill in 2014, a Krakatau Steel official has said.The government-owned Krakatau has formalized a $6 billion joint venture with South Korea’s Pohang Iron and Steel,...
Mon, 16 Aug 2010
Sasol’s Investments in Indonesia Remain Uncertain
TEMPO Interactive, Jakarta:A South-African based energy company, Sasol Synfuels International, has not decided whether to invest in Indonesia, said the Oil and Natural Gas director-general, Evita Legowo, who is also the Liquid Coal Development Team chief, yesterday.
Mon, 16 Aug 2010
Government Prepares New Rent Rate for Extraction Sector
TEMPO Interactive, Jakarta: The government has brought up plans to introduce new rate for land rate in the mining sector from a little bit above five cents to US$2, in the legislation of a new bill at the Finance Department.
Mon, 16 Aug 2010
SE Sulawesi governor reminds nickel miners of their obligation
Kendari, SE Sulawesi (ANTARA News) - South East Sulawesi Governor Nur Alam has told nickel mining investors to contribute US $1.5 to the regional government on every ton of nickel ore they export."Investors may extract our mineral resources but they must not forget their responsibility to...
Mon, 16 Aug 2010
Traffic jams hamper investment
Jakarta (ANTARA News) - The government should immediately find a solution to or a way-out of traffic congestion because it is now hampering investment, particularly in goods distribution, a chamber official said.
Mon, 16 Aug 2010
China ranks 3rd as Bali`s source of foreign tourists
Denpasar, Bali (ANTARA News) - China ranked third after Australia and Japan as a source country of foreign tourists visiting Bali in the first half of 2010 with 98,258 tourists, up slightly from 97,930 a year earlier.
Fri, 13 Aug 2010
Govt preparing incentives for industrial cluster investment
The government says it is preparing measures to reinvigorate the industry-based cluster program, which has faced serious obstacles including overlapping land titles and infrastructure bottlenecks.Industry Minister Mohamad S.
Fri, 13 Aug 2010
Envoy: Indian giants arriving, trade rises
Historical, political and cultural binds between Indonesia and India prove too strong for challenges to shake years of good relations between the two countries, with the most recent incident involving Indians and Indonesians in Batam now only a distant memory.
Fri, 13 Aug 2010
Indonesia’s sleeping tiger awakens
Indonesian stocks are traded by Japanese investors every day, but one recent request from Tokyo was out of the ordinary. A big investor phoned up a local fund manager asking to buy $1bn in equities on the Jakarta stock exchange within just 20 days.