Pertamina faces globalization

Pertamina faces globalization

It is a public secret that the issue of globalization is being touted by capitalists who want to expand their markets as they invest, unopposed, their money either for the short term or the long term in other countries. Unfortunately, developing countries, which make up the market for their products, have no choice but to accept this.

Pertamina's action to acquisition 1,200 gasoline stations across this country is an act of deviance that deserves to be supported. An official at (the state oil company) Pertamina explained that the company was acquisitioning those gas stations because it would never have the chance to grow unless it controlled those downstream businesses.

Experience has shown multinational corporations to be foreign exchange dredging machines. They contribute little to development but take out a good deal more. Pertamina's example is of great significance and deserves to be followed by others. As the proprietors of one of the biggest markets in Asia and one with good prospects for growth at that, we must have the courage to face the era of globalization with all its consequences. The nation's interests must come first.

-- Bisnis Indonesia, Jakarta