400 Aussie Businesses Operate in Indonesia

400 Aussie Businesses Operate in Indonesia

They have invested over A$4.7 billion in Indonesia since 2009

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There are at least 400 Australian businesses operating in Indonesia in fields ranging from mining to agriculture to education. They have invested over A$4.7 billion in Indonesia since 2009, the Australian Ambassador Greg Moriarty said yesterday.

“We plan to work with Indonesia and to support Indonesia to ensure we reach the best possible outcome for both countries. It will be absolutely crucial
to consult all sectors – and we particularly need to consult with the business community and those organisations that represent the business community,” said Moriarty at the Australia Day Business Luncheon and Investiture organized by the Indonesia Australia Business Council (IABC) in Jakarta.

The agreement to negotiate toward an Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) in November 2010 by President Yudhoyono and Prime Minister Gillard presented the perfect opportunity and vehicle to do more on enhancing the bilateral investment, economic and trade relationship.

At the luncheon, Moriarty also presented the insignia of honorary Officer of the Order of Australia (AO) to Moetaryanto Poerwoaminoto, Founder and Advisor of the IABC, for his service to the Australian business sector, particularly through the IABC.

Moetaryanto is a senior Indonesian businessman and has been a member of the IABC since he assisted with its formation in 1989. As a highly respected businessman, Mr Moetaryanto has promoted trade and business between Australia and Indonesia over the past 40 years and has assisted many Australian business people in understanding the business environment in Indonesia.

The IABC is one of the most dynamic and active business bodies in Indonesia, promoting bilateral business cooperation between Australia and Indonesia, and works closely with its Australian counterpart organisation, the Australia Indonesia Business Council (AIBC).

Hankook Tire to Invest US$1.1 Bn in Indonesia

Hankook Tire to Invest US$1.1 Bn in Indonesia

"We'll be improving investment gradually up until 2018"

 

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 Hankook Tire Co. Ltd will invest US$1.1 billion to build factories in the country.

"We'll be improving investment gradually up until 2018," said Hankook Tire Executive Vice President, Hyun Bum Chuo, in Jakarta, Jan 20.

Hyum Bum said the factories will need around 4,000 local workers.

Chief of the Capital Investment Coordinating Agency, Gita Wirjawan, said the investment will open 100 thousand jobs.

The first phase of investment will require US$353 million aiming at at tire factory in Bekasi, West Java.

The factories will help Hankook transform into the fifth top tire manufacturer worldwide. "Hankook Tire chooses Indonesia as a base for global production," said Hankook Tire Vice Chairman and CEO, Seung Hwa Suh. Hankook figured the tire production will hit 100 million items.

The developer will begin construction by Q3 of 2011 and is expected to complete by September 2014.

US Backs Up Indonesia in Graft Eradication

US Backs Up Indonesia in Graft Eradication

"The Embassy cannot comment on the private affairs of an American citizen"

Gayus Tambunan (ANTARA/Yudhi Mahatma)

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VIVAnews - The United States is fully in support of the measures the Indonesian government will take in pursuit of corruption eradication in state institutions. The US government demands that US-based companies running operations overseas avoid corruption under any form possible.

"The US stands with the Indonesian Government’s efforts to eradicate official corruption.  Such corruption undercuts public confidence in government institutions and deters development of a genuine democracy," said spokesperson of US Embassy in Jakarta, Paul Belmont, today, Jan 20.

The statement is made amidst growing concern toward tax mafia issue in Indonesia which had caused a mid-ranking taxman Gayus Tambunan to receive 7 years of imprisonment on charges of corruption.
    
In addition, Indonesian Finance Minister has handed over a list of 151 taxpayers that have allegedly made ties with, or be reviewed by, Gayus. A number of US firms are also on the list.

As regards alleged involvement of US corporations in tax embezzlement case, Belmont said the matter is surrendered to the Indonesian authorities. "The U.S. Government prohibits American companies operating abroad from engaging in corruption of any kind," said Belmont.

Meanwhile, the US Embassy refused to comment on a claim expressed by the taxman that an American named John Jerome Grice, who once assisted Gayus in preparing a passport, is a CIA agent.

"The Embassy cannot comment on the private affairs of an American citizen or provide personal information about them without their consent. We refer you to the Indonesian National Police for details on this case," he said.

Indonesia Jakarta Sees High Unemployment Rate

Indonesia Jakarta Sees High Unemployment Rate

Every year, the Jakarta administration targets cut in employment rate by one percent.

 

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Transmigration and Manpower Agency of Jakarta was negative about the targeted decrease of employment rate in the Indonesian capital. The budget only allocates Rp12 billion, lower than the 2011 State Budget of Rp38 billion.

Chief of Transmigration and Manpower Agency of Jakarta, Dedet Sukandar, was upset over the minimizing of the agency's main programs.

"Such activities as Job Fair and employment exhibition may help the city employ new workers," said Dedet in Jakarta today, Jan 20.

Every year, the Jakarta administration targets cut in employment rate by one percent. Data of the National Statistics Agency (2010) shows that Jakarta houses 580,000 of unemployed people.

India Ready to Invest US$15 Bn in Indonesia

India Ready to Invest US$15 Bn in Indonesia

Most of the fund will be set aside for other infrastructure projects.

 

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Indian investors are expected to chip in US$15 billion of investment to Indonesia. The fund is part of the deal that Susilo Bambang Yudhoyono will sign by late January 2011.

"We're not talking about the realization in the first place," said Coordinating Minister for the Economy, Hatta Rajasa, today, Jan 20.

According to Hatta, the investment will be allocated to develop railway system in South Sumatera worth around US$1.5 billion to US$2 billion. Most of the fund will be set aside for other infrastructure projects.

Industry Minister MS Hidayat said the cooperation between Indonesia and India will be carried out through business-to-business and government-to-government schemes.

The Ministry of Industry will also sign a deal with Primex to gain more benefit from ironsand.