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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.
Mon, 20 Dec 2010
TPG breaks the mould in Indonesia
TPG’s investment in coal mine service provider Delta Dunia confirms the large private equity firm’s reputation for doing the sort of edgy deals that competitors admire but rarely emulate.So far, among the large investment firms, only CVC has been visible in Indonesia, having bought department...
Mon, 20 Dec 2010
Jakarta hotel prices to rise: Hotelier
Hotel rates in Jakarta are predicted to rise following the planned entertainment tax increase scheduled for Jan. 1, chair of the Indonesian Hotels and Restaurants Association Yanti Sukamdani says.“Hotel rates are expected to increase as well, because who will pay the cost [of the tax]?” Yanti...
Mon, 20 Dec 2010
Govt wants 7.5 percent SME growth next year
The Indonesian government wants a 7.5 percent increase in the nation’s small and medium industries sector in 2011, up from a 4.8 percent increase in the sector this year.“We expect 7.5 percent growth next year over this year’s output, which is predicted to reach Rp 14 trillion [US$1.
Sun, 19 Dec 2010
Free trade not ultimate goal : minister
Yogyakarta (ANTARA News) - Trade Minister Mari Elka Pangestu said free trade was not the ultimate goal but a means to achieve sustainable and quality economic growth that touches people from all walks of life."Free trade is a means to achieve the goal. Don`t see it as the ultimate goal.
Sat, 18 Dec 2010
Ministry to build fewer ports than planned
The Maritime Affairs and Fisheries Ministry plans to complete the construction of 12 ports next year, 28 fewer than originally planned.“This is so we can focus [our efforts] and use the available budget to the optimum,” Maritime Affairs and Fisheries Minister Fadel Muhammad said as reported by...
Sat, 18 Dec 2010
Indonesia cbank sees higher FDI in 2011, lower portfolio investment
JAKARTA Dec 17 (Reuters) - Indonesia's central bank deputy governor Hartadi A. Sarwono said on Friday he forecast foreign direct investment (FDI) growing to $14.4 billion next year, but saw portfolio investment falling to $8 billion.
Sat, 18 Dec 2010
Foreign Companies Interested in Tax Reforms Project
TEMPO Interactive, Jakarta:As many as 19 companies have expressed their interest to be involved in Indonesia’s Tax Administration Reforms Project (PINTAR). These foreign companies come from South Korea, Hong Kong and Spain.
Thu, 16 Dec 2010
RI’s economy to grow by 6.5% in 2011
Bank Indonesia has projected Indonesia’s economy to expand by up to 6.5 percent next year, an increase from this year’s expected 6 percent or more.The deputy governor of the central bank, Hartadi A.
Thu, 16 Dec 2010
Labor Law not a priority: Lawmaker
The House of Representatives has dropped the plan to revise the 2003 law on labor since the government had failed to involve workers in forming the draft of revisions.The House decided to drop the bill from the priority list of the 2011 national legislative program.
Thu, 16 Dec 2010
Trade minister to boost bilateral trade with India
Trade Minister Mari Elka Pangestu led Wednesday a trade and business delegation to New Delhi as Indonesia and India are seeking to take their trade partnership to a new level."The goals of the mission are to follow up on a number of bilateral issues as part of efforts to improve trade between...
Thu, 16 Dec 2010
Indonesia's Nov motorcycle sales up 20 pct y/y
JAKARTA Dec 15 (Reuters) - Indonesia's domestic motorcycle sales, an indicator of consumer demand in Southeast Asia's biggest economy, rose 19.7 percent from a year ago to 653,842 units in November, industry data showed on Wednesday.
Thu, 16 Dec 2010
Target of Teakwood Production to Increase Tenfold
TEMPO Interactive, Bandung:The state-owned forestry company Perhutani has projected teakwood production coming from a 1,8 million hectare area to 10 times the size within 20 years. “We do this by replacing the existing teakwood gradually along with the Perhutani plus variety” said Haryono...
Thu, 16 Dec 2010
Indonesian and Taiwan Businesses Urged to Have Closer Relations
TEMPO Interactive, Jakarta:A political expert from the National Taiwan University, Chen Dong Tso, said that Indonesia does not have to fear cooperating with Taiwan. “We already signed an Economic Cooperation Framework Agreement (ECFA) with China,” he said, during the closing of a seminar on...
Thu, 16 Dec 2010
Business, industry welcome additional 1,000 MW power supply
Jakarta (ANTARA News) - Domestic business and industrial communities have welcomed state electricity company PLN`s ability to supply 1,000 additional Megawatts of power starting Dec 15 but said it was still not enough to meet their needs.
Wed, 15 Dec 2010
President: Indonesia will be a Developed Country by 2025
TEMPO Interactive, SURABAYA:President Susilo Bambang Yudhoyono is convinced that Indonesia will become a developed country and become one o f the world’s economic power within 15 years time. The President conveyed his dream when he gave lecture titled “Technology, Economy, and the Future of...
Wed, 15 Dec 2010
Chevron Says It’s Full Steam Ahead for Geothermal Expansion in Indonesia
Jakarta. Chevron Pacific Indonesia, a unit of the US energy giant, expects to “aggressively” establish more geothermal power projects in the coming years.Abdul Hamid Batubara, CPI’s president director, said the company’s goal was to boost power supply in Southeast Asia’s largest economy.
Wed, 15 Dec 2010
President : innovation, technology support economic development
Surabaya, East Java (ANTARA News) - President Susilo Bambang Yudhoyono said innovation and technology must work together in order to boost national economic growth."Innovation and technology can serve as an engine to boost our economic development.
Wed, 15 Dec 2010
Yudhoyono calls for prioritizing domestic market
Surabaya, East Java (ANTARA News) - President Susilo Bambang Yudhoyono has called on all economic stakeholders to prioritize the domestic market including inter-island and inter-province trade."We must admit that equal distribution has not yet been optimally achieved and therefore businesses...
Wed, 15 Dec 2010
Govt optimistic food estate program in Merauke to succeed
Bogor, West Java (ANTARA News) - The government has expressed its optimism that its "Food Estate" program to be developed in Merauke, Papua, would be successful and become the solution of future food security in the country.
Tue, 14 Dec 2010
Taiwan Invited to Invest in Eastern Indonesia
TEMPO Interactive, Jakarta:The Indonesian government has invited Taiwanese businessmen to invest in eastern Indonesia. Edy Putra Irawady, the Economic Deputy Minister for Trade and Industry, said the competition was not too high in the country’s eastern region, providing more opportunities for...
Tue, 14 Dec 2010
South Korean market needs 1.6 million tons of corn
Bantaeng, S Sulawesi (ANTARA News) - The corn market is still wide open and South Korea alone needs 1.6 million tons of corn per year, an official said. To meet the big need, the Gorontalo provincial administration had established cooperation, but still cannot meet the huge volume, Bantaeng Regent...
Tue, 14 Dec 2010
Indonesia Among Developing Nations to Agree Tariff Cut to Boost Trade
Brasilia. Nearly a dozen developing countries including Indonesia will sign an accord this week to cut tariff barriers and boost trade among themselves, a senior Brazilian government official said on Monday.
Tue, 14 Dec 2010
DHL Express Teams Up with 7-Eleven to Launch New Outlet
TEMPO Interactive, Jakarta:Delivery service company, DHL Express, is collaborating with PT Modern Internasional to open the newest DHL Service point outlet near a 7-Eleven store. "We start by operating a service point outlet at 7-Eleven stores in Cilandak," said Ahmad Mohamad, DHL Express...
Tue, 14 Dec 2010
RI invites Malaysia to develop food estates
Jakarta (ANTARA News) - The Indonesian government has invited Malaysia to develop food estates to boost national rice production.The statement was made by Agriculture Minister Suswono here Monday when briefing the First Joint Committee Meeting on Agriculture Cooperation between Indonesia and...
Mon, 13 Dec 2010
Australian investor plans to build 50 villas in c Lombok
Quoting: biznews"The investor can build the villas first and arrange the permit later on. ...," he said.
Mon, 13 Dec 2010
Collective Brands targets Indonesia
US footwear group Collective Brands, which owns the Payless shoe stores chain, will open 15 franchised stores in Indonesia next year and is shifting a chunk of production away from China to south-east Asia’s largest economy, executives said.
Mon, 13 Dec 2010
Will ASEAN Need Common Currency?
VIVAnews - The idea to make possible the distribution of common ASEAN currency in Southeast Asian countries will depend much on the strength of the financial sector in the countries within the region. Today's situation in Europe teaches other regions willing to put the system into effect to endure...
Mon, 13 Dec 2010
Issues Behind Indonesia's Low Competitiveness
VIVAnews - A small number of foreign investment agencies figure that Indonesia may emerge as the next economic giant after China and India. Nevertheless, an economist, A Prasetyantoko, writes in his book "Ponzi Ekonomi" that the country has in fact poor competitiveness.
Mon, 13 Dec 2010
Australian investor plans to build 50 villas in c Lombok
C Lombok, W Nusa Tenggara (ANTARA News) - An Australian company plans to build 50 villas of international standard in South Lombok marine tourism resort in West Nusa Tenggara province, a local official said.
Sun, 12 Dec 2010
Good corporate governance improves, but challenges remain
Good corporate governance practices in Indonesia have shown robust development in the past decade, paving the way for the country to attract more foreign investors to realize its 6 percent economic growth target, an expert says.
Sun, 12 Dec 2010
Banks eye Indonesia mining projects, high resource prices a lure
NUSA DUA, Indonesia, Dec 10 (Reuters) - Indonesia's mining sector has attracted 53 trillion rupiah, or $6 billion, in bank financing up to September this year, surpassing 43 trillion rupiah for all of 2009, and is set to grow further in coming years due to strong demand and escalating prices of...
Sun, 12 Dec 2010
Indonesia and India Agree to Discuss Tariff Reduction
TEMPO Interactive, Jakarta:Indonesia and India agreed to hold the Indonesia-India Comprehensive Economic Cooperation Agreement (IICECA), to discuss reducing tariffs and other aspects of free trade “Details of the negotiation will be discussed during our visit to India,” said Gusmardi Bustami,...
Sun, 12 Dec 2010
Jakarta’s Economy Improved in 2010
TEMPO Interactive, Jakarta:Jakarta’s economy improved in 2010. The economy was still impacted by the 2008 and 2009 global crises. But conditions had improved in 2010 and they are predicted to improve even further next year“There was infrastructure improvement, such as in the...
Sun, 12 Dec 2010
Indonesia, Japan agree on US$24b infrastructure deal
Coordinating Economic Minister Hatta Rajasa and Japanese Foreign Minister Seiji Maehara signed here Friday the Memorandum of Cooperation on the development of the Metropolitan Priority Area, worth ¥2 trillion (US$24 billion).
Sat, 11 Dec 2010
Tax Handover May Cost Indonesia Rp 7t in Lost Revenue: Minister
Jakarta. Local governments and taxpayers alike could face headaches next year once the national government passes its duties in transferring land and building rights to the regions.In less than a month, districts and cities will start levying taxes under the 2009 Regional Tax and Retribution law...
Fri, 10 Dec 2010
Indonesia, Japan to Build MRT Soon
Soon, we mean it this time. Soon we say, we're not pissing about here, it's going to be built soon.......ish.
Fri, 10 Dec 2010
Growth Lies With Young Indonesian Consumers, Nielsen
Jakarta. With positive signs mounting in Indonesia, research company Nielsen believes the country will become increasingly competitive in the next few years.Catherine Eddy, managing director of Nielsen Indonesia, cited some of those signs on Thursday at an event in Jakarta.