Megawati opens first SOE expo
A'an Suryana and Berni K.Moestafa, The Jakarta Post, Jakarta
President Megawati Soekarnoputri officially opened on Wednesday a five-day state-owned enterprises (SOEs) expo, which is aimed at promoting the sagging profile of the country's SOEs.
Out of the total number of 145 SOEs, some 90 companies participated in the expo, which is being held in the Jakarta Convention Center.
Chairman of the organizing committee Sumarno Surono hoped that with the expo, both the general public and the business community could learn more about the products and services of each SOE.
From 10 a.m. until 4 p.m., the expo is only open to the business community, while from 4 p.m. until 8 p.m it is open to the general public. Saturday and Sunday are both open fully to the public.
The event organizer has set up a business lounge to allow businessmen or potential investors to discuss business or investment prospects with the participating SOEs.
The expo is also aimed at campaigning for good corporate governance, transparency and accountability in the SOEs.
Sumarno said boosting the profiles of the SOEs would also help in promoting the government's privatization program.
"We expect the expo will help attract more investors to put their money into the SOEs," he said.
The government is targeting the raising of some Rp 8 trillion in privatization proceeds next year, which is two times more than this year's target of Rp 3.9 trillion.
The government's privatization program is widely seen as having failed over the past two years. Critics have said that this was partly due to the lack of publicity about the important role of SOEs and the privatization program.
During the first day of the expo, the government also announced this year's best SOEs and their chief executive officers.
In first place was publicly listed gold and nickel miner PT Aneka Tambang (Antam). Antam's president Dedi Aditya Sumanagara was named this year's best CEO.
Others state firms honored for their outstanding performances were publicly listed telecommunications company PT Telkom, fertilizer producers PT Pupuk Kaltim and PT Pupuk Kujang, and gas pipeline operator PT Perusahaan Gas Negara.