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The Japan Times
WORLD EYE REPORTS
INDONESIA |
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©THE JAPAN TIMES
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Saturday, March 29, 2003
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A vibrant economy is on its way to recovery
Resolving problems that still plague the nation following the Asian monetary crisis remains the priority in Indonesia. However, improving the investment climate is one major objective that is already bearing fruit, and major steps have been taken to create a country ready to take on the challenges of the years to come.
While moving through the current period of transition, Indonesia is striving for stability in Asia. Economically and culturally diverse, the nation has had a turbulent and often violent history. And yet, despite all they have been through, Indonesians remain welcoming and tolerant, particularly to the many investors looking to do business in the country.
The two key factors affecting Indonesia's potential development are the achievement of financial stability and a sound economic climate. In 1998 the Indonesian Bank Restructuring Agency (IBRA), responsible for rehabilitating and restructuring the banking sector, was established. The government, through IBRA, has restored solvency to the banking systems and is looking to nurse the financial sector back to health.
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JETRO (The Japan External Trade Organization) office in Jakarta plays a prominent role in sustaining and strengthening bilateral trade and investment between Indonesia and Japan. The organization assists in increasing Indonesian exports to the Japanese market and encourages international exchange on various levels. www.jetro.co.jp
PT Harvest International provides strategic planning and tactical implementation services to multinationals. Since its inception, the company has led foreign investment promotion and business development in Indonesia. Its expertise is based on decades-long interaction with the country?s business and political communities. www.harvest-international.com
Strategically located in Sudirman Business District, Balai Sidang Jakarta Convention Center is a highly-flexible venue with rooms for 10 to 1,400 delegates, a 5000-seat Plenary Hall, the 3,921 square meter Assembly Hall and the 5,500 square meter Main Lobby. Total convention space is 20,322 square meters. Two exhibition halls with lobbies total 11,000 square meters. A bonded warehouse is available for custom formalities, plus Internet connections throughout the Center. www.jcc.co.id
eBox
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 Indonesia strives to rise above terrorist threats and a worldwide recession |
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Dr Syahril Sabirin, Governor of Bank Indonesia (the country's central bank), speaks of continued progress in this area: "The Central Bank has been making every effort to show the international community we are positive about the process of establishing stability. We are making serious progress and continue to work hard with the IBRA to stimulate economic recovery and fiscal sustainability." FULL STORY
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Making a difference for ordinary Indonesians
American International Group has been operating in Indonesia for almost a quarter of a century and the company's commitment to the country is clearly on a long term basis. This was further cemented in 1999 when AIG joined forces with the Lippo Group's insurance branch, LippoLife, to become one of Indonesia's most dominant players in the insurance sector - AIG Lippo
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 AIG Lippo President Director and CEO Robert W. Bush |
This joint venture has proved to be a significant move. Before this, LippoLife had 30 percent of the market and was the largest writer of new businesses in 1999. Today, AIG Lippo's services and products can be found throughout Indonesia in all 300 branches of Lippo Bank, with plans to expand in 2003 through BNI, Bank Permata, and ABN AMRO. In addition, the company also provides complete access to its products throughout the country in every post office in the archipelago. Company President Director, Robert Bush boasts of AIG Lippo's pioneering approach toward its customers: "We are not in the rural market place yet because it has only been two years, but we plan on expanding all over Indonesia through the 4,500 post offices across the country, many of which are in villages." FULL STORY
 Masahiro Nishida, president director of Smelting
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Business and the environment: key partners
Indonesia has long profited from its abundance of natural resources. Companies with an assured awareness of environmental concerns are now reaping the rewards of investing in this mineral rich country. With high demand for copper and other by products throughout ASEAN countries, Indonesia has benefited not only from its resources but also from the investment of companies such as Smelting.
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Formed in 1995 with 60.5 percent of the company owned by Mitsubishi Materials, Smelting has established itself as a key player in Indonesia's copper industry. The company's facility in Gresik, Java was the first copper smelting plant to be built in Indonesia and is still recognized as one of Asia's finest. FULL STORY
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New buying power focuses on health drinks
Back in 1920s Japan, Dr. Minoru Shirota began culturing a bacterium that destroyed harmful bacteria found in the intestine. His work in the field of microorganisms led to the development of Yakult, the fermented milk drink which has become the leading health drink in Indonesia.
It was not until the mid-1980s that health drinks began to enter the Indonesian market. The sale of such drinks increased in line with economic welfare and through education and promotion. Since then, Yakult has gained a remarkable 90 percent share of the skimmed-milk-based health drink market.FULL STORY
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 Yakult Indonesia President Director Sutianto |
 Mitsuhiro Yoshioka, president director of Meiji Indonesia
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From East Java, wonder drugs to heal the world
The relentless progress of disease won't wait for a cure. In developing countries, there is a great urgency and a huge requirement for pharmaceutical drugs to combat illnesses. Tomorrow's problems require solutions today, and one pharmaceutical company in Indonesia has been meeting these challenges for almost 30 years.
Meiji Indonesia, head office in Tokyo, has been a pioneer supplier of quality Indonesian antibiotics since 1974. Its president director, Akihito Yoshioka, says: "At Meiji Indonesia, quality comes first. Among the Indonesian medical profession, Meiji is acknowledged as one of the leaders in the production of antibiotics. Ninety percent of our products are injected antibiotics, though we also manufacture tablets, ointments, capsules and creams at our factory in East Java." FULL STORY
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Indonesia
Capital: Jakarta
Area: 1.92 million sq. km
Population: 228.44 million
Population growth:1.6 percent
Currency: Indonesian rupiah (IDR)
Average exchange rate: $1=8,852.10
Inflation rate: 9 percent
Unemployment rate: 15 percent
Total GDP: $654 billion
GDP growth: 4.8 percent
GDP per capita: $2,900
Total exports: $64.7 billion (2000)
Total imports: $40.4 billion (2000)
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Top imports: machinery and equipment; chemicals, fuels, foodstuffs
Top exports: oil and gas, plywood, textiles, rubber
Main export markets: Japan (21%), US (14%), Singapore (10%), South Korea (7%), Netherlands (3%), Australia (3%)
Main import markets: Japan (12%), US (12%), Singapore (10%), Germany (6%), Australia (6%), South Korea (6%)
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Source: CIA Factbook
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