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Tue, 09 Mar 2010
Govt to spur budget funds spending to boost growth
Jakarta (ANTARA News) - The government will spur the spending of state budget funds to boost economic growth, Sjahrial Loetan, the secretary of the state minister for national development planning, said here on Monday.
Tue, 09 Mar 2010
Govt`s oil production target unrealistic : observer
Jakarta (ANTARA News) - Oil observer Pri Agung Rakhmanto said that the government`s oil production target of 965,000 barrels per day (bpd) in the 2010 was unrealistic and needed revision."The target is too ambitious and is baseless," he said here on Monday.
Tue, 09 Mar 2010
Foreign Investment Expected to Increase
TEMPO Interactive, Jakarta:The government is targeting an increase in direct foreign investment.According to The Investment Coordinating Board (BKPM) chairman Gita Wirjawan, Indonesia has only been able to attract 0.17 percent of total foreign investment in the world.
Tue, 09 Mar 2010
SASOL Investment Soon to be Realized
TEMPO Interactive, Cipanas: The Investment Coordination Board’s (BKPM) deputy chief for planning, Luky Eko Wuryanto, said the coal liquefaction project worth US$ 10 billion with South Africa Synthetic Oil Ltd (SASOL) is in the realization phase.
Tue, 09 Mar 2010
Indonesian firm sues Billabong for $58m
Surf wear company Billabong says it is facing a civil claim from its former Indonesian licensee, which is seeking compensation over the termination of its distribution licence in that country.CV Bali Balance is asking for more than $58 million in compensation for losses it says it suffered from the...
Mon, 08 Mar 2010
HK’s Dairy Farm to Open Hypermarkets in Indonesia
Dairy Farm International Holdings, Hong Kong’s second-biggest retailer, will increase spending on hypermarkets in Southeast Asia and its health and beauty chain in China.Capital spending may rise about 4 percent to at least $300 million as the company builds hypermarkets in Indonesia, Malaysia...
Mon, 08 Mar 2010
Singapore Manufacturers Keen to Expand in Indonesia
With Singapore’s economy expected to rebound this year, manufacturers there are gearing up to invest more in Indonesia to capitalize on the archipelago’s large labor pool and robust growth, the head of the Singapore Manufacturers’ Federation said on Friday.
Mon, 08 Mar 2010
Indonesia and Malaysia Team Up Against Palm Oil Critics
Indonesia and Malaysian palm oil producers have agreed to jointly tackle challenging environmental and labor issues which threaten to hinder the development of the industry in both countries.Producers have lately come under attack on a number of fronts.
Mon, 08 Mar 2010
Indonesian Developer Bakrieland Still Hopes to Salvage Dubai Deal
PT Bakrieland Development said on Friday that it had granted investor Limitless Holdings, a unit of debt-laden Dubai World, an extension on the expired $110 million Rasuna Epicentrum deal to the end of the month.
Mon, 08 Mar 2010
Indonesian Electricity Provider Comes Clean About Rate Hike
In a move likely to enrage lawmakers and the Ministry of Energy, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it had resumed charging wealthy customers higher power rates because it needed an additional Rp 2 trillion ($216 million) in revenue to maintain operations.
Mon, 08 Mar 2010
Demand for cars in Indonesia increasing
Jakarta (ANTARA News) - In Indonesia, the demand for cars has continued to increase over the past two months and it is expected to increase with a sales projection of 55,000 - 60,000 units this month, a businessman said."The domestic car market continues to improve.
Mon, 08 Mar 2010
Some 493 thousand foreign tourists visit Indonesia in January
Jakarta (ANTARA News) - The number of foreign tourists arrivals in Indonesia increased 4.20 percent to 493 thousand in January 2010 from 473.2 thousand in the same period a year earlier, according to the Central Bureau of Statistics (BPS).
Mon, 08 Mar 2010
An expanded argument for FDI
meanwhile, back in the real world, Gita "Propellor Head" Wirjawan continues to be oblivious to the complete breakdown of systems within the office he heads (BKPM). the latest farce: due to ill-thought out changes he made to the investment permit system in January, the Manpower Dept is now...
Mon, 08 Mar 2010
An expanded argument for FDI
It’s a well known fact by now that, in order to achieve the growth it seeks, the current administration has set a target of Rp. 2,000 trillion per year in investment. Around 55 percent of this sum is expected to come from private capital, while the balance is expected to come from household...
Sun, 07 Mar 2010
Singapore investors eying 10 RI business sectors : chamber
Jakarta (ANTARA News) - Twenty-two Singaporean investors have expressed readiness to invest up to Rp1 trillion in Indonesia this year, the Indonesian Chamber of Commerce and Industry (Kadin) said."The Singaporean investors mostly want to invest in the small- and medium-scale manufacturing...
Sun, 07 Mar 2010
BKPM streamlining negative investment list
Jakarta (ANTARA News) - The Investment Coordinating Board (BKPM) is streamlining the country`s negative investment list (DNI) to avoid different interpretations among investors, its chairman Gita Wirjawan said.
Sun, 07 Mar 2010
Palm oil tested on sustainability
NUSA DUA, Bali - Palm oil plantations play a major role in the growing problems of deforestation and greenhouse gas emissions in Indonesia and tropical woodlands around the world. Last week's gathering of the International Conference on Oil Palm and Environment (ICOPE) is one move toward making the...
Sun, 07 Mar 2010
IPA to hold exhibition to boost investment
JAKARTA: The Indonesian Petroleum Association (IPA) will hold its 34th Convention and Exhibition themed "Investing Together for Future Growth".Indonesia's premier event for the oil and gas industry aims to help boost and attract investment.
Sat, 06 Mar 2010
Indonesia says Unilever move on palm oil "unfair"
JAKARTA (Reuters) - A move by Unilever to stop buying palm oil from Indonesia's top supplier Sinar Mas and to blacklist another supplier PT Duta Palma was "unfair," Indonesian Agriculture Minister Suswono said on Friday.
Sat, 06 Mar 2010
Netherlands to help promote Indonesia’s CPO exports
The Netherlands has agreed to provide Indonesia with capacity building programs to help deal with a new European Union directive on imports of crude palm oil (CPO).“There’s an EU directive. The Netherlands has promised to help us, firstly, to understand the EU directive and help us meet the...
Fri, 05 Mar 2010
Indonesia, Netherlands agree to Boost trade, investment relations
Jakarta (ANTARA News) - Indonesia and the Netherlands at a meeting here Thursday agreed to step up their bilateral relations in the trade and investment fields.The mutual commitment was formalized in the agreed minutes of the 20th meeting of the two countries` Joint Commission on Bilateral Economic...
Fri, 05 Mar 2010
Indonesian Environmental Forum: Food Estate a Dangerous Project
TEMPO Interactive, Jakarta:There is a protest against the food estate project once again.This time it is the Indonesian Environment Forum (WALHI) that has spoken up."If this project continues, then Indonesia would enter a period of validated land seizures," said M.
Fri, 05 Mar 2010
‘Good Economics’ to Trump ‘Bad Politics’ in Indonesia Over the Longer Term, Analysts Predict
Bitter divisions in the government’s ruling coalition will stifle policy making and slow reform, but the country’s strong fundamentals, founded on robust domestic demand, should prevent asset prices from suffering much for the moment.
Fri, 05 Mar 2010
Indonesian Property Sector Backs New Rules for Foreigners
The property sector applauded the government’s announcement on Wednesday that it intended to allow foreign nationals to take out property leases of up to 95 years, instead of the current 25-year maximum, but noted that key details of the plan had yet to be released.
Thu, 04 Mar 2010
Indonesia's Energy Firms Eager To Access Forest Land
Quoting: VulgarianOh how thinly veiled is this? From the slant, you'd think that they're trying to set up nothing but geothermal energy plants. You almost miss the intro: Quote:A new presidential decree allowing mining, power plant, transport and renewable energy projects in protected forests was...
Thu, 04 Mar 2010
Indonesia's Energy Firms Eager To Access Forest Land
Oh how thinly veiled is this? From the slant, you'd think that they're trying to set up nothing but geothermal energy plants. You almost miss the intro: Quote:A new presidential decree allowing mining, power plant, transport and renewable energy projects in protected forests was welcomed by...
Thu, 04 Mar 2010
Indonesian Lenders Planning to Create Credit Bureau to Expand Market Reach
Domestic lenders are planning to establish an independent credit bureau to help target retail customers and small companies, a senior PT Bank Danamon executive said on Wednesday.To speed up the loan-application process, the credit bureau would be designed to offer lenders more up-to-date and...
Thu, 04 Mar 2010
Indonesia's Energy Firms Eager To Access Forest Land
A new presidential decree allowing mining, power plant, transport and renewable energy projects in protected forests was welcomed by companies in those sectors on Wednesday.PT Pertamina Geothermal Energy said it could now proceed with the construction of geothermal projects that could produce as...
Thu, 04 Mar 2010
Agricultural Exports Face Cargo Problems
TEMPO Interactive, Semarang:The Central Java Agriculture Office’s Food, Plants and Horticulture chief Aris Budiono said the exports of horticultural products face delivery problems because no airlines have offered direct cargo delivery overseas.
Wed, 03 Mar 2010
Rio Tinto Wins Indonesia Permit
JAKARTA - The Indonesian unit of Rio Tinto PLC has been granted a mining permit for its planned $2 billion nickel project on Sulawesi island, the company said Tuesday, making it the first mining company to gain investment approval under Indonesia's new mining law.
Wed, 03 Mar 2010
$600m Lombok Mega-Resort Tender Results Slated for May
The nation’s Investment Coordinating Board confirmed to journalists on Tuesday that tender results for the long-delayed $600 million resort project in Lombok would be released in May.“We now have a total candidate of five candidates, and Emaar [Properties] is still one of them,” Gita...
Wed, 03 Mar 2010
$1b Qatari Investment Fund Nears Realization
$1b Qatari Investment Fund Nears Realizationby Janeman LatulAfter months of uncertainty, Qatar Holding, the investment arm of the sovereign fund Qatar Investment Authority, is on the brink of establishing a wholly owned investment vehicle in Indonesia with start-up capital of $1 billion, a senior...
Wed, 03 Mar 2010
Foreign Investment 'Vital to GDP Growth'
The government’s top investment official on Tuesday appealed to the Indonesian people not to fall under the spell of a counter-productive economic nationalism, saying foreign investment was needed to develop the economy.
Wed, 03 Mar 2010
Indonesia sees investment spin-off from Obama visit
US President Barack Obama's trip to Indonesia should boost investment in Southeast Asia's biggest economy and curb negative perceptions on doing business in the nation, Indonesia's investment agency said today.
Wed, 03 Mar 2010
RI builds warning system for food safety
The government is currently building an early warning system on food safety to ensure that all food products entering the country meet both national and international standards. Chairwoman of the food and drug monitoring agency (BPOM) Kustantinah said in Jakarta on Tuesday that the system would be...
Wed, 03 Mar 2010
BKPM chief believes Century chaos not to affect investment
Jakarta (ANTARA News) - Head of the Capital Investment Coordinating Board (BKPM), Gita Wirjawan, said he did not believe the chaos over the Bank Century case at the House plenary session on Tuesday would affect investment."It will not affect investment in general.
Wed, 03 Mar 2010
BKPM promoting "Remarkable Indonesia"
Jakarta (ANTARA News) - Head of Investment Coordinating Board (BKPM) Gita Wirjawan said he will start promoting investment with the slogan of the Indonesian Chamber of Commerce and Industry (Kadin) "Remarkable Indonesia".
Tue, 02 Mar 2010
Indonesia, Vietnam agree to strengthen business ties
Indonesian and Vietnamese businessmen have pledged to help each other in promoting trade and investment opportunities in the two countries, both members of the Association of Southeast Asian Nations (ASEAN).
Tue, 02 Mar 2010
FACTBOX-Key political risks to watch in Indonesia
CurrenciesJAKARTA, March 2 (Reuters) - Strong growth and political stability made Indonesia Southeast Asia's most attractive investment destination last year, but the outlook is threatened by a struggle between reformers and powerful vested interests.
Tue, 02 Mar 2010
Indonesia’s Potential Geothermal Energy Equivalent to 19 Billion Barrels of Oil
TEMPO Interactive, Bengkulu:The potential of Indonesia’s geothermal energy is 27,710 megawatts (MW) or equivalent to 19 billion barrels of oil.The capacity presently installed is only 4.3 percent or 1,189 MW out of the 2025 geothermal energy development target which was set at 9,500 MW.
Tue, 02 Mar 2010
Enough is Enough in Karangasem
Bali Lawmaker in Karangasem Claims Hotel and Restaurant Sector is Overbuilt.(3/1/2010) A member of the local House of Representatives in Karangasem (DPRD-Karangasem), Nyoman Sadra, told the Bali Post that the hotel and restaurant sector in Karangasem is over-saturated and new developments should...
Mon, 01 Mar 2010
‘Good Reason for Optimism’ Ahead of Obama’s Indonesia Visit
The chairman of the Investment Coordinating Board has said closer ties with the United States and President Barack Obama’s forthcoming visit should help push Indonesia closer to being a trillion-dollar economy within five years, despite that meaning a growth rate of up to 15 percent a year.
Mon, 01 Mar 2010
Negative List Changes Won’t Hit Existing Foreign Investors
The planned revisions to the negative investment list will not be enforced retroactively, according to Finance Minister Sri Mulyani Indrawati.The government is finalizing a revision of the 2007 presidential decree that bans or limits foreign investment in certain sectors.
Mon, 01 Mar 2010
Asean Works to Boost Trade, ‘Project Voice’ on World Stage
The 10-member Association of Southeast Asian Nations will accelerate efforts to increase investment and to boost trade in services as it seeks a greater role in driving the global economy.Asean trade ministers set deadlines for completing agreements covering investments and trade in goods and...
Mon, 01 Mar 2010
House Urges KPPU to Protect Indonesian Companies Under ACFTA
The House of Representatives’ Commission VI, which oversees trade and industry, has asked the Business Competition Supervisory Commission to step up efforts to protect domestic businesses from unfair business practices under the Asean-China Free Trade Agreement.
Sun, 28 Feb 2010
The Threat to Indonesian Energy Development
Evita Legowo, the director general of oil and gas in the Ministry of Mines and Energy said recently that the implementation of a new Environmental Law could reduce oil and gas production by up to 50 percent because of the requirement to reduce the temperature of waste water from their oil and gas...
Sun, 28 Feb 2010
C Kalimantan`s CPO production expected to reach 2.5 million tons
Palangkaraya (ANTARA News) - Central Kalimantan expects its crude palm oil production this year to reach 2.5 million tons with big private plantations having increased their cultivated areas."Several plantations are starting to harvest this year to increase annual production by around 400,000...
Fri, 26 Feb 2010
Indonesia's new law a blow to oil and gas
JAKARTA, Feb. 25 (UPI) -- Indonesia's new environmental law could result in a 40 percent drop in the country's oil and gas production.The law, passed last year, requires businesses to secure environmental permits before launching their operations.
Fri, 26 Feb 2010
Govt to reopen telecommunications towers to foreign investment
Investment Coordinating Board chairman Gita Wirjawan revealed here on Thursday that the government would push ahead with its plan to open the telecommunications towers to foreign investment to help the telecommunications industry grow faster to keep up with soaring demand.
Fri, 26 Feb 2010
Healthcare, education to be open for more foreign investment
Indonesia is inviting more foreign investment into the healthcare and education sectors in a bid to improve services as well as the quality of Indonesian human resources, according to Investment Coordinating Board chairman Gita Wirjawan.Speaking before U.S. businesspeople in Washington D.C.