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Fri, 31 Dec 2010
Indonesia to soon issue new underground mining rules
JAKARTA Dec 30 (Reuters) - Indonesia will soon issue regulations to allow underground mining in protected forests, the government said on Thursday, a move likely to attract more investment but alarm green groups.
Fri, 31 Dec 2010
Investments in Indonesia's mining sector beyond target: official
JAKARTA, Dec. 30 (Xinhua) -- A senior official of Indonesian Energy and Mineral Resources Ministry said that the total investment in the country's mineral and coal mining sector in 2010 was 2.28 billion U.S. dollars, surpassing the ministry's target initially set at 2.119 billion U.S.
Fri, 31 Dec 2010
Mining Investment Targeted to be US$ 2.2 Billion
TEMPO Interactive, Jakarta:The Energy and Mineral Resources Ministry has projected a US$ 2.2 billion increase in mineral and coal investments next year, an increase from this year’s target of US$ 2.11 billion.The target has been increased in line with plans to increase mineral and coal production.
Fri, 31 Dec 2010
RI seeking to join world`s major economies club
Bogor, West Java (ANTARA News) - Indonesia is expecting to become one of the world`s ten biggest economies in 2025 with its gross domestic product expected to reach US$3.7 to 4.7 trillion and the per capita income at US$12,000.
Fri, 31 Dec 2010
HK allocates US$50 billion for investment in RI
Jakarta (ANTARA News) - The Hong Kong government has allocated US$50 billion for its investment in Indonesia until next year, an Indonesian diplomat said here."Indonesia must be able to provide various facilities so that the investment funds will not go to other countries instead," Teguh...
Fri, 31 Dec 2010
Indonesia Targeting $8.4b From Foreign Tourists in 2011
Indonesia expects to earn $8.4 billion in tourism revenue next year, up from $7.6 billion this year, according to Tourism Minister Jero Wacik.Total foreign arrivals are expected to increase to as many as 7.7 million next year from 7 million tourists this year, he said in Jakarta on Thursday.
Thu, 30 Dec 2010
New regulation expected to boost investment
The Energy and Mineral Resources Ministry says the newly issued regulation on cost recovery and taxation in the oil and gas industry will boost investment.The ministry’s director general for oil and gas Evita Herawati Legowo said Wednesday legal uncertainties over cost recovery and taxation had...
Thu, 30 Dec 2010
Lack of Quality Coffee Beans Keeps Indonesia Reluctant to Sell
Indonesia is reluctant to enter the physical market due to a lack of good-quality Robustas and an uncertain outlook for next year's crop, dealers said on Wednesday.Rains in Indonesia, the world's second-largest Robusta producer after Vietnam, have caused the beans to shrink.
Thu, 30 Dec 2010
Crude Palm Oil Sector Set for Bigger Things Ahead
After years of playing second fiddle to Malaysia, Indonesia has now firmly established itself as the world’s biggest producer of crude palm oil. With production capacity of 19 million tons, this position is unlikely to be challenged going forward.
Thu, 30 Dec 2010
New Oil and Gas Regulation Set to Clear Uncertainty
The government has issued a regulation aimed at clearing up longstanding legal uncertainty over cost recovery in the oil and gas industry, which it hopes will in turn increase investment in the sector.The government regulation, which has more legal force than a ministerial decree, includes seven...
Thu, 30 Dec 2010
Coal Investment Exceeds Set Target
VIVAnews - Total investment in mineral and coal in 2010 reached US$3.18 billion which exceeds the target set in the strategic plan that the Energy and Mineral Resources Ministry prepared at US$2.12 billion.
Thu, 30 Dec 2010
West Java Investments
TEMPO Interactive, Bandung:The West Java government is opening up the sectors of food, energy and water to foreign investors and is targeting 10 percent growth in investment in the region next year.“The government will concentrate on the downstream processing industry,” said Agus Gustiar, the...
Thu, 30 Dec 2010
Investments in mineral sector in 2010 reach US$2.282 billion
Jakarta (ANTARA News) - Investments in the mineral and coal mining sector in 2010 reached US$2.282 billion, according to the ministry of energy and mineral resources.The ministry`s director general of minerals and coal, Bambang Setiawan, said here on Wednesday the realization was above the target...
Wed, 29 Dec 2010
Indonesia Records More of Housing Backlog
VIVAnews - The Ministry of Public Housing pointed out that housing backlog for lower middle people up until 2009 reached 7.4 million. "This year, it might be around 8.4 million, given the estimated rising demand of housing by 800 thousand and our ability to build up to 200 thousand homes per...
Wed, 29 Dec 2010
American Cruise Ship to Dock in Makassar
TEMPO Interactive, Makassar:Approaching the end of 2010, Makassar will receive hundreds of foreign tourists once again. The Sea Born Spirit cruise ship from the US will dock at the Soekarno-Hatta Harbor today.“About 193 foreign tourist will visit Makassar.
Wed, 29 Dec 2010
Property Market Looks Hot
TEMPO Interactive, Surakarta:The property market in Central Java is projected to grow rapidly next year. “I am convinced the property will grow. One of the reasons for this is an improvement in people’s purchasing power,” Adib Ajiputra, deputy chairman of the Central Java Indonesian Real...
Wed, 29 Dec 2010
Indonesia's Rules Complicate Oil and Gas Business
Domestic and foreign oil companies operating in Indonesia may not make huge changes in their investment next year as they are hampered by government regulations, executives claim.Oil production next year is forecast to reach 955,000 barrels per day, lower than the government’s target of 965,000...
Tue, 28 Dec 2010
Domestic, Foreign Investors Bullish on Indonesian Property Market
Jakarta’s fast-changing skyline is a testament to the re-emergence of the property sector. Across the board, it is poised to continue its strong showing in 2011.Property analysts such as Anton Sitorus, senior manager at Jones Lang LaSalle, are bullish the sector will be among the 10...
Tue, 28 Dec 2010
Indonesia`s 2010 economic conditions sound: minister
Jakarta (ANTARA News) - The sound investment and export climates have contributed substantially to improving Indonesia`s economic conditions in 2010 as a whole, according to Coordinating Minister for the Economy Hatta Rajasa.
Tue, 28 Dec 2010
VP asks provincial governors to support geothermal projects
Jakarta (ANTARA News) - Vice President Boediono has called on all provincial governors to smoothen licensing for development of geothermal power plants in their regions which need to be promoted as sources of green energy.
Tue, 28 Dec 2010
2010 Review: Gayus Affair Highlights Indonesia’s Floundering Fight vs Corruption
Corruption, as it always has, dominated headlines throughout the year. But one particular case stood out among the rest, simultaneously fixating and disgusting the entire nation, as an illustration of how widely and deeply graft is ingrained into the country’s social fabric: that of 31-year-old...
Tue, 28 Dec 2010
2010 in Review: Expanding Lending Drives Indonesia's Healthy Economy
Two years after the tumultuous global financial crisis, the Indonesian banking system is back on solid footing to spur lending and help boost economic growth in Southeast Asia’s largest economy.Domestic banks, including Bank Mandiri and Bank Rakyat Indonesia, are targeting the country’s...
Mon, 27 Dec 2010
Indonesia BTN sees property prices, profits up in 2011
JAKARTA, Dec 23 (Reuters) - Indonesia's top mortgage lender, PT Bank Tabungan Negara , sees a government commitment to allow foreigners to own local property next year as an opportunity for aggressive expansion, the company's CEO said on Thursday.
Mon, 27 Dec 2010
Corruption takes gloss off Indonesia's boom
In September, Indonesia's leader Susilo Bambang Yudhoyono was moved to put pen to paper, composing a letter to Barack Obama.He was agitated about the plans of the Florida pastor Terry Jones to burn a pile of Korans on the anniversary of the September 11 attacks.
Mon, 27 Dec 2010
2010 Review: Government Targets Investors For Crucial Infrastructure Work
Build, build, build seems to be the message of the moment, and will still be in 2011 as the government looks to accelerate infrastructure development across the country.The sense of urgency within President Susilo Bambang Yudhoyono’s government to ease the growing bottlenecks that are threatening...
Mon, 27 Dec 2010
Tax Incentives Look to Give Manufacturing a Lift in 2011
After nearly a decade of subpar investment, Indonesia’s manufacturing sector is set to receive a major shot in the arm in 2011.Industry Minister MS Hidayat said last week that tax breaks could generate as much as Rp 125 trillion ($13.
Mon, 27 Dec 2010
Building Freeze Urged to Dampen Bali’s Hotel Boom
Denpasar. The Ministry of Culture and Tourism is pushing for a moratorium on the construction of new hotels in Bali, saying the resort island has almost 10,000 rooms it doesn’t need.Hengky Hermantoro, head of the ministry’s tourism research and development center, said there were a total of...
Sun, 26 Dec 2010
Bengkulu offers free lots for investors
The Bengkulu administration is offering land, free of charge, to investors wanting to open businesses in the province, Bengkulu Governor Agusrin Maryono Najamudin says.Agusrin said the move was expected to draw investors to Bengkulu, and thus open more job opportunities for the locals and cut the...
Sun, 26 Dec 2010
Crying Out for Fresh Funding, Energy Sector Eyes 58% Growth in Investment
Indonesia is wooing investors at home and abroad to spend more exploring and developing the country’s oil and gas reserves as it struggles to meet output targets.Total investment in the oil and gas industry is expected to grow 58 percent to $18.9 billion next year from an estimated $11.
Sun, 26 Dec 2010
Mining Investment in Indonesia Hits US$41.8 B
VIVAnews - Indonesia's revenue from energy and mineral resources in 2009 reached 24 percent of the total national income."Our mineral resources are ranked sixth worldwide but the investment climate sits on 46th," said Chief of API-IMA Martiono Hadianto in Jakarta today, Dec 23.
Sun, 26 Dec 2010
A Big Cake Named Indonesia
TEMPO Interactive, Jakarta:Never underestimate Indonesia. It is true that the Internet connection in Indonesia is not as good as in Singapore, Malaysia or even Vietnam. But Indonesia is a “sweet cake,” attracting big players.
Sun, 26 Dec 2010
Investments to Push Manufacture Products Export
TEMPO Interactive, Jakarta:Industry Minister M.S. Hidayat predicted that exported manufactured products will amount to US$ 92.26 billion next year. This will be pushed by investments in the industry and related incentives. “This is expected to push industry’s growth,” he said yesterday.
Sun, 26 Dec 2010
Chamber: Indonesia`s economic growth may reach 7 pct
Jakarta (ANTARA News) - The domestic economy may grow 7 percent next year if the government is able to overcome constraints to the economic growth, the Indonesian Chamber of Commerce and Industry (Kadin) said."The economic growth in 2010 is quite good.
Sun, 26 Dec 2010
Three investors to build hotels in Denpasar
Denpasar, Bali (ANTARA News) - Three investors are planning to build hotels in Denpasar, Bali, which are expected to overcome a shortage of 1,600 hotel rooms in the past two years, a tourism official said.
Sun, 26 Dec 2010
Investor to build sugar factory in Banyuwangi
Banyuwangi, E Java (ANTARA News) - An Indonesian investor had expressed his interest in building a sugar factory in the East Java district of Banyuwangi, a government official said.The investor would go ahead with his will as long as the district government could provide him with several thousand...
Sun, 26 Dec 2010
Madura preparing own electricity supply for industry
Bangkalan (ANTARA News) - State power firm PT PLN, Bangkalan branch, Madura, East Java, has been preparing the supply of power to industries operating at industrial sites in the western-most end of the island after the opening of the Suramadu (Surabaya-Madura) bridge.
Sun, 26 Dec 2010
Nickel processing plant to be built in SE Sulawesi
Kendari (ANTARA News) - The Southeast Sulawesi provincial administration established cooperation with foreign and national companies to build a nickel processing plant in the region."The cooperation is contained in a memorandum of understanding between Jilin Horoc Nonferrous Metal Group Ltd of...
Thu, 23 Dec 2010
Hankook to build plant in Indonesia
Hankook Tire Co. Ltd. has announced it will be investing $353 million in a new passenger, bus and truck tire manufacturing plant in Bekasi, Indonesia. More than 50% of the plant’s capacity will be earmarked for the North American market.
Thu, 23 Dec 2010
Unfriendly to job creation
Among the poorest performance records of President Susilo Bambang Yudhoyono’s government over the past six years could be its miserable failure to make significant policy reforms in the labor and basic infrastructure sectors.
Thu, 23 Dec 2010
REI optimistic property sector to grow 15 pct in 2011
Jakarta (ANTARA News) - Real Estate Indonesia (REI) is optimistic the property sector will grow by up to 15 percent in 2011 compared to 10-12 percent this year."The key to the property sector`s growth for middle- and low-cost houses is in regulations and next year the problem is expected to be...
Tue, 21 Dec 2010
US$100m for RI’s 1st butadiene plant
The nation’s largest petrochemical firm Chandra Asri will set aside US$100 million to build the first butadiene factory in the country through its subsidiary Petrokimia Butadiene Indonesia (PBI), the company said in a statement.
Tue, 21 Dec 2010
New Gold Zone Found in Indonesia Sumatra
VIVAnews - G-Resources Group Limited claims that new gold mineralization zone is found in Martabe, South Tapanuli, North Sumatra. The Hong Kong-based gold company is on drilling examination at the spot.
Tue, 21 Dec 2010
Govt to prioritize Sunda strait bridge
Pekanbaru, Riau (ANTARA News) - The government will prioritize development of Sunda Strait bridge rather than the Malacca Strait, Coordinating Minister for Economy Hatta Rajasa said here on Tuesday.Hatta said the government wanted to construct the Sunda Strait bridge first in its effort to build...
Tue, 21 Dec 2010
Infrastructure Projects in Indonesia Thrown Open for Bids
Jakarta. In its continuing efforts to boost infrastructure development, the government is offering three projects on Java Island to foreign and domestic investors at a total combined investment value of around $4 billion.
Tue, 21 Dec 2010
Investors Consider Indonesia as Promising
VIVAnews - The National Economic Committee (KEN) releases an outlook on the 2010 Indonesian economy. The Indonesian government is seen as capable of stabilizing the economy despite the flat outcome. The committee stated that Indonesia has been an outstanding spot for investment after the global...
Tue, 21 Dec 2010
Legislator: Corruption eradication strategy ineffective
Jakarta (ANTARA News) - Corruption in Indonesia continues to be rampant because the corruption eradication strategy was ineffective and the government as well as law enforcers were often inconsistent, a legislator said.
Tue, 21 Dec 2010
Monorail needs three years to build
Tangerang, Banten (ANTARA News) - The South Tangerang city administration estimated that the construction of the Serpong-Bandara Soekarno Hatta monorail project may be completed in three year`s time."Three years for the building of the monorail project is quite long but flexible," head of...
Tue, 21 Dec 2010
Investors Disinterested in Pekanbaru Toll Road
TEMPO Interactive, Riau:The construction of a 135-kilometer-long toll road connecting Pekanbaru and Dumai has once again been delayed due to a lack of interest from investors, said Ramli Walid, Riau’s regional development planning agency chief.
Tue, 21 Dec 2010
Completion of Lombok Airport
TEMPO Interactive, Mataram:The Coordinating Economic Ministry has confirmed it will allocate an additional Rp76 billion to cover the completion of Lombok International Airport, Coordinating Economic Minister Hatta Rajasa told reporters in Mataram at the weekend.
Tue, 21 Dec 2010
Special Economic Zone by March 2011
TEMPO Interactive, DUMAI:Coordinating Economic Minister Hatta Rajasa said the government will designate areas to be made special economic zones by March next year. While he did not mention the areas in detail, Hatta confirmed that Riau was included on the list.