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Mon, 30 Nov 2009
Indonesian Businessman Strikes Back at McDonald’s
Bambang Rachmadi has fired back at fast-food giant McDonald’s, saying the US-based corporation created “artificial” losses at their domestic joint venture while “sucking” huge earnings out.“When [the joint venture] was operating in Indonesia from 1991 to 2008, McDonald’s sucked as...
Sat, 28 Nov 2009
China Seeks More Investment on Indonesia Agriculture
TEMPO Interactive, Jakarta: Chinese business representatives meeting with Industry Minister MS Hidayat on Thursday have expressed their wish to get tax incentive for investment.Chairman of the All-China Federation of Industry and Commerce Huang Mengfu said many chinese companies are seeking...
Sat, 28 Nov 2009
Industry no longer locomotive of RI`s economic growth
Jakarta (ANTARA News) - Industrial growth in Indonesia has continued to decline since 2006 and no longer serves as the locomotive of national economic growth, a national development planning official said.
Thu, 26 Nov 2009
Ancol aims to boost investment next year
Jakarta province owned developer and recreation operator PT Pembangunan Jaya Ancol will spend Rp 520 billion (US$55 million) in investment next year, to be partly financed by a planned bond issue, president director Budi Karya Sumadi said Tuesday.
Thu, 26 Nov 2009
Two factories for photocopy machines planned: Official
Two investors may become pioneers in the domestic photocopy machine industry, which is currently relying heavily on imports, as the two firms plan to build two separate factories costing about US$45 million in total investment.
Thu, 26 Nov 2009
RI’s growing prospect encourages GE to invest
When the widely-diversified business giant General Electric CEO Jeffrey Immelt visited Indonesia in October, he vowed to double his company’s investment which has reached US$1.2 billion on the back of the country’s economic resilient despite heavy blows from the global economic slowdown.
Thu, 26 Nov 2009
RI to maintain lead in world CPO production
Bogor (ANTARA News) - Indonesia will maintain its status as the world`s biggest producer of crude palm oil by increasing its production and quality to support economic growth, Prof Dr Amin Tamin Subandrion said.
Thu, 26 Nov 2009
New BKPM Chief Bullish On Foreign Investment
Gita Wirjawan, the new head of the Investment Coordinating Board, knows his job is not going to be easy.Charged with attracting foreign investors to the country, Gita takes over at the board, known as the BKPM, at a time when combined foreign and domestic investment during the first 10 months...
Thu, 26 Nov 2009
More Money, Land Needed To Boost Crops, Expert Says
Farmers’ lack of access to land and capital, and the rapid conversion of agricultural land to other uses, is restraining the country’s agricultural output, experts said at a seminar on the agriculture sector’s outlook in Jakarta on Wednesday.
Thu, 26 Nov 2009
Investors Ready to Bet on ‘Directionality’
Gita Wirjawan, the new head of the Investment Coordinating Board, is optimistic about the country’s future as an investment destination.He said foreign investors remained “bullish” on the country, despite long-term poor competitiveness ratings by international agencies.
Thu, 26 Nov 2009
Investors Steering Clear of Oil, Gas Bids Until Cost-Recovery Rules Ironed Out
Investors have largely ignored the Energy Ministry’s tenders for 17 oil and gas blocks offered in June because of the government’s plans to amend cost-recovery regulations, a senior ministry official said on Wednesday.
Thu, 26 Nov 2009
Exporters Watch and Worry As Indonesian Rupiah Continues to Rise
Coal and palm oil exporters’ profit margins may narrow should the rupiah rise another 4 percent to 9,000 per dollar, and the costs of fuel and rice keep climbing, industry groups said.Seven of 17 analysts in a Bloomberg News survey predict more gains in the currency, Asia’s best performer this...
Thu, 26 Nov 2009
Get Ready For Asean-China Free-Trade Pact: Indonesian Industry Minister
An Asean-China Free-Trade Agreement is coming, whether Indonesian producers “are ready or not,” Industry Minister MS Hidayat told lawmakers on Wednesday.The FTA will allow thousands of products from China to enter Indonesia with no import duties.
Thu, 26 Nov 2009
Domestic investment doubles as confidence climbs
The value of mobilized domestic investment doubled this year as confidence in the country's economy increased, the Investment Coordinating Board (BKPM) says.New BKPM head Gita Wirjawan told a hearing of the House of Representatives' Commission VI overseeing trade, business and state enterprises on...
Thu, 26 Nov 2009
New BKPM head to focus on expediting licensing system
“I will give you my name card with an email address so that you can email me your problem, and I will see to it that the matter you raised is rectified.”That was how Gita Wirjawan, the new chief of the Investment Coordinating Board (BKPM), addressed businessmen at the Indonesia-Australia...
Tue, 24 Nov 2009
New Indonesian Mining Law’s Rules on Outsourcing Spook Foreign Investors
A new government mining rule, limiting contract work that can be outsourced and favoring local players is shaping up as a fresh blow to plans to boost mining investment in the economy.The rule, attached to a mining law passed last year, presents an immediate challenge for new Energy and Mining...
Tue, 24 Nov 2009
Indonesia Sees Crisis in Foreign Investment
Combined foreign and domestic investment during the first 10 months of this year fell 13.8 percent from the same period last year due to the global economic crisis, the new head of the Investment Coordinating Board told a House of Representatives commission on Monday.
Tue, 24 Nov 2009
Honeymoon over for Yudhoyono
DENPASAR, Bali - The honeymoon ended for Indonesia's President Susilo Bambang Yudhoyono less than a month into his second term. Since his inauguration on October 20, there hasn't been much good news for SBY, as Yudhoyono is universally known here, and the downward spiral is accelerating.
Tue, 24 Nov 2009
Why Yudhoyono needs FDI
JAKARTA - Indonesian President Susilo Bambang Yudhoyono is widely expected to use his strong electoral mandate to push reforms in his second term to attract foreign investment. But the re-elected leader's first 100-day plan is already raising concerns that much-needed liberalization measures may be...
Tue, 24 Nov 2009
Domestic investment jumps 104.5 pct
Jakarta (ANTARA News) - Domestic investment in the year ended October 2009 climbed 104.5 percent to Rp32.47 trillion from the same period a year earlier, the Investment Coordinating Board (BKPM) said."The number of domestic investment projects rose to 212 from 194 previously," BKPM Chief...
Mon, 23 Nov 2009
Indonesia To Build World's Longest Bridge
Quoting: biznewsin Sumatra island, in which over 80 percent of the country's about 230 million population live, Shurely shome mishtake?
Mon, 23 Nov 2009
Indonesia To Build World's Longest Bridge
Quoting: biznewsIndonesia To Build World's Longest BridgeJAKARTA, Nov 19 (Bernama) -- Indonesia would begin constructing the world's would-be longest bridge in Sunda Strait connecting two main islands of Sumatra and Java in 2014, as an effort to boost infrastructure development in the southeast...
Mon, 23 Nov 2009
Indonesia To Build World's Longest Bridge
it's just a dumb idea from so many different angles, not just the tsunami risk.
Mon, 23 Nov 2009
Indonesia To Build World's Longest Bridge
Having a tsunami everyother year is this a good idea ?
Mon, 23 Nov 2009
RI’s growing prospect encourages GE to invest
When the widely-diversified business giant General Electric CEO Jeffrey Immelt visited Indonesia in October, he vowed to double his company’s investment which has reached US$1.2 billion on the back of the country’s economic resilient despite heavy blows from the global economic slowdown.
Mon, 23 Nov 2009
Indonesian 7-Eleven Expansion Plan Stymied by Bureaucracy
A local company’s plan to expand its 7-Eleven franchise nationwide appears stalled after its permits and motives were questioned by both local and central government officials on Friday.The country’s first outlet of the biggest convenience store chain in the world opened earlier this month in...
Mon, 23 Nov 2009
Govt eyes finalization of key airport projects
Airport development projects will be one of the priorities of the Transportation Ministry next year, including the finalization of ongoing expansion projects at three international airports, and constructing up to 31 smaller airports.
Sat, 21 Nov 2009
Palm Oil Exports From Indonesia to Rise, Group Says
Palm has had a bad rep for being an environmentally unsound boondoggle, but we rarely show the good side of palm. I aim to rectify that.
Sat, 21 Nov 2009
Indonesia, Australia eying expansion of business, trade
Investment Coordinating Board chairman Gita Wirjawan and deputy trade minister Mahendra Siregar will brief 150 Indonesian and Australian businesspeople at a two-day conference in Yogyakarta on new business opportunities within bilateral economic ties.
Sat, 21 Nov 2009
Bizmen call for speedy settlement of Bibit-Chandra case
Depok (ANTARA News) - Businessmen are calling for an immediate settlement of the Bibit Samat Rianto and Chandra M Hamzah case, arguing further delays would make them lose their sense of legal certainty.
Sat, 21 Nov 2009
Sabang int`l seaport to operate in 2012
Banda Aceh (ANTARA News) - Aceh province`s Sabang international seaport which is now under construction is scheduled to commence operations in 2012, the port`s administrator said."The project is to support the economic growth of the Sabang Free Port and Trade Area," Sabang Port...
Fri, 20 Nov 2009
Palm Oil Exports From Indonesia to Rise, Group Says
Nov. 20 (Bloomberg) -- Palm oil output and exports from Indonesia, the biggest producer, may increase to a record next year as the global economic recovery stokes demand for the most- consumed vegetable oil, according to industry officials.
Fri, 20 Nov 2009
Govt plans to implement e-procurement nationwide
The newly established Government Procurement Regulatory Body (LKPP) plans to implement electronic procurement systems in all government institutions as its main target, in a bid to save the state money from inefficiencies.
Fri, 20 Nov 2009
Sumitomo Appointed For North Sulawesi Geothermal Project
TEMPO Interactive, Jakarta: State Electricity Company has appointed Japan's Sumitomo to build the 20 megawatt geothermal plant in North Sulawesi which was part of the second batch of the 10,000 megawatt project, an official with the state company said on Thursday.
Fri, 20 Nov 2009
BPPT to Build Geothermal Power Plant
TEMPO Interactive, Jakarta: Head of the National Agency for the Assessment and Application of Technology (BPPT), Marzan Aziz Iskandar, has said that the agency will build a geothermal power plant in Cibuni, West Java.“We have found the source,” Marzan told Tempo, on Thursday (19/11).
Fri, 20 Nov 2009
Indonesia To Build World's Longest Bridge
JAKARTA, Nov 19 (Bernama) -- Indonesia would begin constructing the world's would-be longest bridge in Sunda Strait connecting two main islands of Sumatra and Java in 2014, as an effort to boost infrastructure development in the southeast Asian largest economy.
Fri, 20 Nov 2009
OECD:Indonesia's growth underpinned by consumption, investment
PARIS, Nov 19 (Reuters) - Private consumption and a pick-up in investment will drive Indonesia's economy, with annual growth seen above 5 percent in the next two years, the Organisation for Economic Cooperation and Development said on Thursday.
Thu, 19 Nov 2009
Apindo demands no price setting for private electricity
The Indonesian Employers Association (Apindo) demanded no price-setting policy for privately generated electricity to foster investment and help end blackouts.Apindo chairman Sofjan Wanandi said that investors had been deterred from putting money in the electricity business because they had to...
Thu, 19 Nov 2009
Exemption of import duties on machines meets criticism
The Finance Ministry regulation exempting duties on selected imported machines for industrial development, issued Monday, met with criticisms from local businessThe regulation, which will come into effect on Dec.
Thu, 19 Nov 2009
Irish business to manage Sabang port
After years of uncertain negotiations, the Ireland-based Dublin Port Company has signed an 18-month business contract with the government to take control of the management of Sabang international port in Nanggroe Aceh Darussalam.
Thu, 19 Nov 2009
Indonesia Lifts Import Duty on Materials for Key Industries
In a bid to boost investment and increase global competitiveness, the government on Wednesday scrapped the 5 percent import duty normally imposed on machinery and raw materials for seven vital service industries.The Ministry of Finance said the regulation would take effect on Dec.
Thu, 19 Nov 2009
President blames PLN monopoly for power blackouts
President Susilo Bambang Yudhoyono blamed Tuesday the state utility firm PT PLN monopoly for the power shortages across the archipelago."It is wrong if PLN is not able *to meet the huge power demand*," the President said at the State Palace before a meeting to discuss the national power...
Thu, 19 Nov 2009
RI set to become an important food supplier
Given its abundant agricultural resources, Indonesia is well positioned to become one of the world’s most important food suppliers in the coming years, Vice President Boediono said Wednesday.“The development of infrastructure, including in the agriculture sector, is a top priority in the...
Thu, 19 Nov 2009
RI textile firms hit by flood of imports
The share of domestic textile producers in the national market is going to plunge to 50 percent by the year-end, down from 65 percent last year, as a wave of cheap imports to hits the domestic market, an association says.
Thu, 19 Nov 2009
RI`s q3 foreign investment inflows plunge 87 pct
Jakarta (ANTARA News) - Foreign investment inflows in Indonesia in the third quarter of 2009 plunged 87 percent to US$435 million from the same period last year.The slump made net foreign direct investment (FDI) suffer a deficit of US$70 million, thereby posing a challenge to the government to...
Wed, 18 Nov 2009
Lawmakers grill Mari over feasibility of planned FTAs
Lawmakers have demanded that Trade Minister Mari Elka Pangestu make available the feasibility studies on the proposed free trade agreements (FTAs) following business community concerns that losses may outweigh gains.
Wed, 18 Nov 2009
Sutanto spearheads BIN’s economic focus
In addition to defense and security matters, the State Intelligence Agency (BIN) has created a new position, an economic deputy, to advise the agency on potential economic threats.Newly appointed BIN chief Gen.
Wed, 18 Nov 2009
Indonesian Gas Woes Block Fertilizer Investment
Fertilizer firms need more than $6.2 billion from the private sector to upgrade their aging factories but cannot attract the money because of the problems they face in securing a reliable supply of natural gas to keep the factories running, the head of a state fertilizer firm said this week.
Wed, 18 Nov 2009
Textile Association Hails Extended Hours at Ports
The Indonesian Textile Association on Tuesday hailed the government’s plan to require four major seaports to operate around the clock as part of its commitment to boost trade this year.Ade Sudradjat, deputy chairman of the association, known as the API, said the plan would speed up the flow of...
Wed, 18 Nov 2009
Indonesia’s Small-Scale Palm Oil Farmers Finding Green Certification Costly
Indonesia’s small-scale palm oil farmers are not acquiring certifications as environmentally friendly producers because it is expensive and certified palm oil does not command a premium on world markets.