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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.
Fri, 13 Aug 2010
Singaporean investors pour money into Indonesia to tap commodities
SINGAPORE -- Singapore investors are flocking to Indonesia with an eye to tapping its rich commodity reserves and fast-expanding consumer base.Foreign direct investment (FDI) in the country - once shunned because of its corruption, political unrest and poor infrastructure - rocketed from SG$508...
Fri, 13 Aug 2010
Jakarta’s chance to lead fashion for faithful
Models present creations by Indonesian designer Ian AdrianThe fashion models lounged in the public hallway of a Jakarta retail mall in hot pants, batting false eyelashes and adjusting their hairdos.Minutes later, they hit the catwalk wearing headscarves and covered by full-length prayer gowns in an...
Fri, 13 Aug 2010
Indonesia plans to give incentives for investment in 5 provinces
JAKARTA, Aug. 13 (Xinhua) -- The Indonesian government plans to provide fiscal incentives for investment in five provinces in the sectors of agriculture, oil and gas, a paper reported here Friday.Industry Minister Mohamad S.
Fri, 13 Aug 2010
Indonesia to build a new container port
Indonesia’s state port firm will start building a new container terminal in Jakarta this year to cope with overflowing volumes at the main shipment hub in Indonesia’s capital as trade grows.The first phase of the 22tn rupiah ($2.
Fri, 13 Aug 2010
Indonesia hopes exports to rise by end of 2010
Jakarta (ANTARA News) - Industry Minister MS Hidayat hoped Indonesia`s exports could be increased to reduce any trade deficit."China indeed is now the preference for increasing exports of commodities. They now import more than exporting.
Thu, 12 Aug 2010
Massive Papua Food Estate to Serve As Nation’s Bread Basket Launched
Indonesia. Indonesia on Wednesday launched a giant project to create a $5 billion agricultural estate spanning three districts in Papua.The Merauke Integrated Food and Energy Estate program is the latest attempt by the government to gain self-sufficiency in food production, with a longer-term goal...
Thu, 12 Aug 2010
4 New Terminals Center of $2.4b Tanjung Priok Upgrade
Jakarta. The government is planning to pour Rp 22 trillion ($2.46 billion) into expanding the Tanjung Priok port in a bid to speed up the movement of goods.“We will expand the port with four more terminals and hope the groundbreaking on the first one will happen by the end of this year,”...
Wed, 11 Aug 2010
PMorgan Sees Rising Investor Interest in Indonesia, Southeast Asia Stocks
Stock markets in Thailand, Indonesia, the Philippines and Malaysia have been “remarkably resilient” and investor interest may increase, drawn by Southeast Asia’s economic growth and an equities rally, JPMorgan Chase & Co. said.Thailand’s economy is estimated to expand 8.
Wed, 11 Aug 2010
Yahoo’s ‘Serious Investment’ Targets Indonesian Mobile Net Users
Indonesia. The rapid growth of mobile Internet users and the untapped market of people yet to have online access had spurred Yahoo to “seriously invest in Indonesia,” an executive of the Web giant said on Tuesday.
Wed, 11 Aug 2010
Indonesia says restriction on beef imports to protect domestic industry
JAKARTA, Aug. 11 (Xinhua) -- Indonesia's restriction on beef imports is aimed at protecting local breeders, spokesman of Trade Ministry Robert Bintaryo said here Wednesday.The statement was made following a concern from New Zealand over Indonesia's import regulation, which it considers very...
Wed, 11 Aug 2010
Indonesia aiming at soyabean self-sufficiency by 2014
Lahat, S Sumatra (ANTARA News) - Minister of Agriculture H Suswono said that the government is trying to become self-sufficient in soybean by 2014, and develop Lahat in South Sumatra, as its barn.The minister said this in a working visit and soybean grand harvest in Pagarjati village, Kikim Selatan...
Wed, 11 Aug 2010
Marine sector contributes 22 pct to GDP
Jakarta (ANTARA News) - The marine sector contributes nearly 22 percent of the country`s gross domestic product, a marine expert said on Monday night calling on the government to pay more attention to the sector."Based on the results of my calculation, the marine sector contributes 22.
Wed, 11 Aug 2010
Bin Laden group postpones investment in SE Sulawesi
Kendari, South East Sulawesi (ANTARA News) - Saudi Arabia`s Bin Laden Group has postponed its plan to invest in South East Sulawesi as a consequence of the global financial crisis last year, the region`s governor said.
Wed, 11 Aug 2010
Rupiah`s appreciation weakens furniture exports
Jakarta (ANTARA News) - The appreciation of the rupiah which now has reached Rp8,900 per US dollar is weakening the competitiveness of furniture industry and handicraft products, a furniture businessman said.
Tue, 10 Aug 2010
Indonesia and Turkey Beat Investors’ Expectations by Outperforming BRICs
Jakarta. Indonesia and Turkey are outpacing the biggest emerging markets by almost any financial measure, even while they may be too small to join the BRICs.Indonesia’s equity index has climbed 21 percent this year and Turkey’s rose 13 percent, both hitting all-time highs on July 29.
Tue, 10 Aug 2010
Hotel Business in Yogyakarta is Promising
TEMPO Interactive, Yogyakarta:Hotel business in Yogyakarta continues to grow. Every holiday season, many tourists cannot find hotel accommodations. “The business is promising,” said the Yogyakarta branch of the Indonesian Hotel and Restaurants Association secretary, Deddy Pranowo Eryono, during...
Tue, 10 Aug 2010
Bali`s hotel occupancy rate up 4.17 pct
Denpasar, Bali (ANTARA News) - The average occupancy rate of hotels in Bali in June was 64.56 percent, or an increase of 4.17 percent compared with that in the previous month which was 60.39 percent, a statistics official said.
Tue, 10 Aug 2010
Bali`s imports reach US$136.91 million
Denpasar, Bali (ANTARA News) - The value of Bali`s imports in the second quarter of 2010 increased 242.34 percent to US$136.91 million from US$39.99 million in the same period a year earlier, a statistics official said."The imports in the second quarter also increased 207.35 percent from US$44.
Mon, 09 Aug 2010
Investment, Consumption Fuel Faster GDP Growth
Singapore. Indonesia’s economy grew at a better-than-expected 6.2 percent in the second quarter of 2010 from the same period a year ago, thanks to strong investment, exports and steady household spending, fueling predictions that more than 6 percent growth can be achieved for the year.
Mon, 09 Aug 2010
Indonesian Study Shows Trade Pact Led to Flood of Chinese Goods
A study by the Indonesian Young Entrepreneurs Association has found that more than 70 percent of products from small- and medium-sized industries sold in Indonesia in the six months to June were imported from China.
Mon, 09 Aug 2010
Indonesian Government Ready to Finalize Land Acquisition Reform
The government plans to finalize a draft bill this week that regulates land acquisition for public purposes. The legislation aims to improve infrastructure and ease traffic flow.The government hoped to present it to the House of Representatives soon, a spokesman for Vice President Boediono said on...
Mon, 09 Aug 2010
Non-oil/gas export growth in 2010 may reach 10 pct
Jakarta (ANTARA News) - Indonesia`s non-oil/gas exports in 2010 had been estimated to reach 10 percent, surpassing the earlier set 7 to 8.5 percent."We have targeted non-oil/gas exports at 7 - 8.5 percent, which may even be more than that," Minister of Trade Mari Elka Pangestu said in...
Sat, 07 Aug 2010
Indonesia’s First 24/7 Business Television Channel Ready for Launch
Jakarta. Media Nusantara Citra, the operator of satellite-TV provider Indovision, on Monday will launch MNC Business, Indonesia’s first channel offering 24-hour business and financial news.According to MNC Business project director Arief Suditomo, the channel is “Indonesia’s answer to foreign...
Sat, 07 Aug 2010
Indonesia Takes on an Attractive Sheen
JAKARTA - After years of being known for inefficiency, corruption and instability, Indonesia is emerging from the global financial crisis with a surprising new reputation - economic golden child.The New York TimesThe country’s economy, the largest in Southeast Asia, grew at an annual rate of 6.
Sat, 07 Aug 2010
Govt to raise tourist arrival to target to 7.6 mln
Jakarta (ANTARA News) - The government will increase its foreign tourist arrival target from 7 million this year to 7.6 in 2011, Marketing Secretary of the Tourism Directorate General Noviendi Makalam said.
Sat, 07 Aug 2010
Singapore opens consulate in Batam
SINGAPORE: Singapore's Minister for Foreign Affairs George Yeo visited Batam on Friday for the official opening of the Singapore Consulate in Batam.The consulate in Batam is Singapore's third representation in Indonesia.
Thu, 05 Aug 2010
President : decentralization intended to optimize development in regions
Bogor, West Java (ANTARA News) - President Susilo Bambang Yudhoyono said Indonesia had adopted the decentralization or regional autonomy concept in order to optimize development in each and every region as mandated by the reform movement.
Thu, 05 Aug 2010
Italy third biggest European investor in Indonesia
London (ANTARA News) - Italy is the third biggest European investor country in Indonesia after Britain and the Netherlands with an investment value of US$4.05 million in the first quarter of this year, a diplomat said."Italy`s investment of US$4.
Thu, 05 Aug 2010
President backs idea to make Morotai special economic zone
Ternate, N Maluku (ANTARA News) - President Susilo Bambang Yudhoyono has thrown his weight behind the North Maluku provincial government`s wish to turn Morotai Island into a special economic zone.Addressing a ceremony marking the relocation of North Maluku`s provincial capital from Ternate to...
Wed, 04 Aug 2010
Design is the Weakness of Furniture Products
TEMPO Interactive, Surakarta:Furniture craftsmen in Surakarta have so far been relying on the designs made by foreign buyers. “From 218 furniture businessmen in Surakarta, only 10 percent design their own products,” said the Surakarta Indonesian Furniture Association chief in charge of Raw...