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Thu, 14 Jan 2010
Egypt Mulls Trade Barrier Talks With Indonesia
TEMPO Interactive, Jakarta: Trade Minister Mari Elka Pangestu met with her egyptian counterpart Rachid Mohamed Rachid to discuss trade barriers and improve commercial ties between the two countries.After the meeting at the Trade Department on Wednesday (13/1) Minister Mari Elka said Indonesia sees...
Wed, 13 Jan 2010
Graft threatens Indonesia's carbon offset billions: report
JAKARTA (Reuters) - Billions of dollars set to flood into Indonesia under a U.N.-backed forest protection scheme are at risk because of graft unless the country puts strong oversight mechanisms in place, a report released on Tuesday warned.
Wed, 13 Jan 2010
Sharing the burden of producing sustainable biofuels
Palm oil is one of the world's most traded and versatile agricultural commodities. It can be used as edible vegetable oil, industrial lubricant, raw material in cosmetic and skincare products and feedstock for biofuel production.
Wed, 13 Jan 2010
Indonesia's Investment Board Seeking Solutions
Pak Gita, while you are picnicking in the provinces, you may wish to note that since the 4th of January, when you introduced your "radical changes" to procedures at the BKPM, not *one* investment permit has been issued.you turkey.
Wed, 13 Jan 2010
Indonesia's Investment Board Seeking Solutions
Gita Wirjawan, the chairman of the Investment Coordinating Board, has embarked on a tour of 25 provinces to find solutions to problems hampering investment in the regions.“If we can bring in regional leaders to help solve these problems, we may maximize investment,” he said on Tuesday.
Wed, 13 Jan 2010
Tourists to spend $7b in 2010
Tourism Minister Jero Wacik said Tuesday the foreign exchange reserves from the tourism industry would be raised from the 7 million tourist arrivals.“We have set tourist arrivals at 7 million people, with each of them spending an average $1,000,” Jero said as quoted by Antara state news agency.
Wed, 13 Jan 2010
Japan Asked to Invest Agressively
TEMPO Interactive, Jakarta:The government is targeting that Japan investment value increases 14 percent this year to develop various industrial sectors, especially steel, automotive and shipping.Last year Japan invested around US$ 21 million or Rp192 trillion.
Wed, 13 Jan 2010
Investment in cellular telecommunications US$2.2 billion
Makassar (ANTARA News) - Investment in the cellular telecommunications industry in Indonesia in 2010 is projected to reach US$2.2 billion, with the market estimated to grow by 11 percent.Telkomsel Coorporate Communications Manager for Pamasuka area Jowvy Kumala said here Tuesday to reach the growth...
Wed, 13 Jan 2010
Minister to alert port customs to possible import surge
Jakarta (ANTARA News) - Industry Minister MS Hidayat plans to visit Tanjung Priok seaport on Thursday to alert customs authorities to a possible surge in imports following the coming into force of the ASEAN-China Free Trade Agreement (ACFTA).
Wed, 13 Jan 2010
Kadin : Foreign trade`s contribution to growth to see deficit
Jakarta (ANTARA News) - The Indonesian Chamber of Commerce and Industry (Kadin) predicts Indonesia`s foreign trade will continue to see a deficit in its contribution to national economic growth in 2010.
Wed, 13 Jan 2010
Foreign Ownership Would Triple Indonesia's Property Sector, Says Industry
buying an apartment in the best of circumstances is a bit of a gamble. in indonesia, with the complete lack of a responsible maintenance culture, the average foreigner would be mad to buy.even indonesians don't like them.
Wed, 13 Jan 2010
Foreign Ownership Would Triple Indonesia's Property Sector, Says Industry
Agree kuku -- plus I dont see many "non-indonesians" wanting to buy apartments anyway. Have you had a look at the new ones going up? So small you cant swing a cat in them!
Wed, 13 Jan 2010
Foreign Ownership Would Triple Indonesia's Property Sector, Says Industry
seems mr riady is using his Jakarta Globe to push commercial agendas. who would have thought?this property-ownership-for-foreigners story has been dusted off annually for at least 10 years now. but i guess with the glut of apartments in jakarta, there is added incentive for the developers to push...
Wed, 13 Jan 2010
Foreign Ownership Would Triple Indonesia's Property Sector, Says Industry
A government plan to allow foreign nationals to buy houses and condominiums would provide an important boost to the economy, likely more than tripling the property sector’s contribution to 10 percent of GDP, industry players said on Tuesday.“Currently, the property sector only contributes 2.
Tue, 12 Jan 2010
Bureaucracy Slows Indonesia Oil & Gas Development
As the country's resources flag, an ill-considered government move puts a roadblock in the wayIndonesian oil and gas development is expected to stall in 2010, with state revenue from the sector falling US$6.36 billion, down 25 percent on 2009, and direct investment falling to $12.
Tue, 12 Jan 2010
Navy Complain Over Shipyard Construction in Batam
TEMPO Interactive, Jakarta: The National Armed Forces have filed compliant over a construction of a new shipyard near the Batam Naval Base in Riau Islands, Sumatra, and demanded cease on the project on ground that the new facility was too close to the naval base.
Tue, 12 Jan 2010
Indonesia, Japan agree to boost cooperation on investment
JAKARTA, Jan. 11 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono on Monday met Japanese Minister of Economy, Trade and Industry Masayuki Naoshima at the State Palace, both agreeing to boost cooperation on investment.
Tue, 12 Jan 2010
Govt to offer two economic zones to investors soon
Jakarta (ANTARA News) - The government has named two special economic zones as economic development hubs it will offer to investors this year, a chief economic minister said."In 2010, there have been two zones which are ready to be offered soon," Coordinating Minister for Economic Affairs...
Tue, 12 Jan 2010
Tech Pirates Find Safe Port In Indonesia
Software piracy in Indonesia is an open secret. Copies of everything from Microsoft Windows 7 to the latest games line the shelves of software shops in Ratu Plaza and other malls. All are illegally duplicated, and sell starting at just Rp 25,000 ($2.75) per disc.
Tue, 12 Jan 2010
Allow Foreigners to Purchase Property by May, Govt Urged
The government should revise rules to allow foreign nationals to buy apartments and houses in Indonesia before an international real estate forum in Bali in May, the head of a real estate association said on Monday.
Mon, 11 Jan 2010
Team to overcome obstacles faced by national products
Jakarta (ANTARA News) - An official said that the government has set up a coordination team to overcome obstables faced by national products in their competition with foreign products."The team is tasked with conducting coordination among ministries and between the central and regional...
Mon, 11 Jan 2010
China Trade Deal to Cost Indonesia 'Millions of Jobs’
In the latest and most authoritative warning about a new region-wide free-trade agreement with China, an executive with the state social security provider PT Jamsostek predicts that as many to two million Indonesians will be laid off because their firms can’t outperform their Chinese rivals.
Mon, 11 Jan 2010
Indonesia gets Traffic Laws! Kompas protests!
Law number 22/2009 concerning Traffic comes into effect today!and already people are demanding that it be delayed until it has been "socialised"! Today's Kompas front page screams: "The Community will become Victims: Law No 22/2009 concerning Traffic should be delayed"here's...
Sat, 09 Jan 2010
Palm Oil Under Heavy Fire Over Environmental Toll
Palm oil has always been under fire, first because of its allegedly adverse effect on cholesterol, since disproven, and then because of tropical deforestation to clear the way for oil palm plantations.However, the ante has been raised considerably in recent months.
Sat, 09 Jan 2010
Miners, Property Developers Best Bets For Indonesian Investors in 2010, Danareksa Says
Coal, nickel and tin prices will probably rise as the global economy recovers, making mining stocks such as PT Bumi Resources a good investment, while property developers will benefit from lower borrowing costs, analysts at state-owned brokerage PT Danareksa Sekuritas said.
Sat, 09 Jan 2010
RI's lack of infrastructure exacerbates FTA's impacts
Business associations blame Indonesia's unreadiness to face the ASEAN-China free trade agreement (FTA) on the poor quality of infrastructure.The chairman of the Indonesian Motorcycle Industry Association, Gunadi Sindhuwinata, said Friday that infrastructure all across the country had remained...
Sat, 09 Jan 2010
China and India Threaten Local Pharmaceutical Industry
TEMPO Interactive, Jakarta:Head of the Indonesia Pharmaceutical Entrepreneurs Association Anthony C.H. Sunarjo has confirmed that ASEAN-China free trade threatens the domestic pharmaceutical industry.“Especially small- and medium-size companies,” he said when contacted on Wednesday.
Sat, 09 Jan 2010
Businessmen Need Free Trade Information
TEMPO Interactive, Surakarta:Businessmen in the provinces do not have enough information regarding the ASEAN-China Free Trade Agreement. They are urging the central government and business groups in Jakarta to immediately share the information with them.
Sat, 09 Jan 2010
BKPM plans to hold massive promotional campaigns abroad
Pontianak, W Kalimantan (ANTARA News) - The Investment Coordinating Board (BKPM) is gearing up for massive overseas campaigns starting next month to promote the country`s regional potentials."We aim to conduct the promotional campaigns in five to seven countries each month," BKPM Chief...
Fri, 08 Jan 2010
A new world order
Indonesia is well placed to share in the most significant theme shaping the world economy: the shift in the balance of economic and financial power from the West to the East. The countries that succeed in this shift will fit into one of three categories.
Fri, 08 Jan 2010
Indonesian Government May Unlock Real Estate For Expats
Expatriates in Indonesia may soon be able to make the jump from being renters to owners, as the State Ministry of Public Housing announced on Thursday that it was planning changes to the law that would allow foreigners to own homes in cities and special economic zones.
Thu, 07 Jan 2010
Indonesia's key minerals output expected to plunge in 2011
JAKARTA, Jan. 7 (Xinhua) -- Production of three key minerals will plunge in 2011 as technical problems and other delays take their toll, the Jakarta Globe reported on Thursday. Bambang Setiawan, the director general of coal, minerals and geothermal energy at the Ministry of Energy and Mineral...
Thu, 07 Jan 2010
Domestic Investors Help Fill Void as Indonesia FDI Plunges
Indonesia recorded a 28 percent drop in realized foreign direct investment in 2009, the chief of the Investment Coordinating Board said on Wednesday.Analysts said this showed that the nation had not escaped the impact of the global financial crisis, which hampered the ability of banks to supply the...
Wed, 06 Jan 2010
Wealth Managers Roll Out Red Carpet For Indonesia's Multiplying Millionaires
Singapore. Sandiaga Uno, the second-youngest man on Forbes’s Indonesia rich list, says private bankers inundate him with investment pitches and have offered everything from wine-tasting and concerts to karaoke evenings and gambling trips to Macau to solicit his business.
Wed, 06 Jan 2010
Investment in mining to top $2.5b in 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.Bambang Setiawan, the director general of mineral resources, coal and geothermal mining at the Energy and Mineral Resources Ministry, told Antara the government had increased its investment target from $1.
Wed, 06 Jan 2010
Indonesia Tourist Arrivals Rose in 2009 but Spending Declined
More foreign tourists visited Indonesia last year than in 2008, but they spent less, resulting in a sharp decline in total tourism revenue, the government reported on Monday.A total of 6.45 million foreign nationals visited the country in 2009, an increase of 0.
Wed, 06 Jan 2010
Foreign tourists catch some rays at Bali
Foreign tourists catch some rays at Bali's Kuta Beach. (Photo: J.P. Christo, JG)Indonesia Tourist Arrivals Rose in 2009 but Spending DeclinedMore foreign tourists visited Indonesia last year than in 2008, but they spent less, resulting in a sharp decline in total tourism revenue, the government...
Wed, 06 Jan 2010
Indonesia's Pawn-Shop King Seeking Rp 7 Trillion to Lift Lending
State-owned PT Perum Pegadaian, the country’s biggest operator of pawn shops, said on Tuesday that it would seek Rp 7 trillion ($756 million) from the capital markets this year to strengthen its capital structure and increase its total lending.
Wed, 06 Jan 2010
Insurance Fund to Protect Indonesia Infrastructure Investments
The government has established a state-owned guarantee fund to protect investors in infrastructure projects from any “unfavorable” policies that could hurt their investments, the Finance Ministry said on Tuesday.
Tue, 05 Jan 2010
Indonesian president happy with country's 2009 economic performance
Indonesian President Susilo Bambang Yudhoyono said Tuesday that the country's economic performance in 2009 was quite well at the backdrop of a crisis that rammed global economy, the Antara news agency reported.
Tue, 05 Jan 2010
Customs foil attempt to smuggle in second-hand clothing
Jakarta (ANTARA News) - Riau Islands customs officers in Natuna waters on Monday (Jan 4) foiled an attempt to smuggle thousands of bales of second-hand clothing from Malaysia to Flores, East Nusa Tenggara.
Tue, 05 Jan 2010
Manufacturing Growth to Surge, Says Indonesian Government
The government is forecasting that the manufacturing sector will grow by 4.55 percent in 2010, in line with the recovery of the domestic and global economies, a senior cabinet minister said on Monday.Although still modest, that represents a significant improvement over last year, when the sector is...
Tue, 05 Jan 2010
Indonesian Bankers Call for Restrictions To Limit Expansion of Foreign Rivals
Indonesian bank executives on Monday called on the government to use licensing restrictions to limit foreign investors’ expansion in the domestic banking industry.Agus Martowardojo, chairman of the Indonesian Bankers Association (IBI), said Bank Indonesia should follow the lead of neighboring...
Tue, 05 Jan 2010
RI proposes ASEAN to delay FTA
The Indonesian government submitted a proposal to the ASEAN Council last week to postpone tariff reductions on 228 items under the free trade agreement between the regional grouping and China.“The notification we sent to the ASEAN Council last week stipulates we want a renegotiation,” Industry...
Tue, 05 Jan 2010
Power supply problems overcome by October 2010 : Minister
Jakarta (ANTARA News) - The electricity supply problems in a number of regions in Indonesia will be overcome by October 2010, Coordinating Minister for Economic Affairs Hatta Radjasa said here on Monday.
Mon, 04 Jan 2010
Energy and mining revenue expected to drop in 2010
The failure to attract enough investors for new oil and gas blocks offered in 2009 will cost the government a Rp 60 trillion (US$6.36 billion) drop in state revenue this year, the energy and mineral resources ministry said.The ministry estimated the revenue from the sector would drop to Rp 175.
Mon, 04 Jan 2010
Plantation Sector Set for Steady Growth: Govt
Plantation sector investment is forecast to grow by 11 percent per year over the next five years while the amount of land used for palm oil plantations will jump by almost 20 percent, according to an Agriculture Ministry forecast released last week.
Mon, 04 Jan 2010
Analysts Say Domestic Demand, Not Government Stimulus, Saved Indonesian Economy
Despite the turbulence in financial markets decimating global commerce and nearly toppling trade-driven economies in February, the Bank Indonesia governor at the time, Boediono, said the nation had “a blessing in disguise.
Mon, 04 Jan 2010
Regional Free-Trade Deal With China Comes Into Effect
Bangkok. A free-trade agreement between China and Southeast Asia came into force on Friday, consolidating a sixfold surge in economic activity over the past decade between countries representing a quarter of the world’s population.
Mon, 04 Jan 2010
Local Biofuel Output Dives In 2009 as CPO Price Rises
Indonesia fell woefully short of its biofuels target in 2009 as producers halted operations because of the surging price of crude palm oil, the main raw material.Total biofuel production was just 104,100 kiloliters in 2009, a 96 percent fall from the 2.