US firms to pour $5b into Indonesia
A group of US companies will invest up to $5 billion over the coming two years into to manufacturing, infrastructure and energy projects in Indonesia, the country’s Industry Ministry announced on August 10.
A Memorandum of Understanding with the US firms was signed in Jakarta last week. The companies will also provide consultants on infrastructure development, information technology, oil and gas projects and green technology. One major project to be realised under the MoU is the construction of four ethanol plants, to be jointly built and operated by Indonesia’s state owned oil and gas company PT Pertamina and Texas-based Celanese Corporation.
Indonesia’s Industry Minister Mohamad Suleman Hidayat said in a statement after the signing of the MoU that the US companies “will provide assistence to develop infrastructure facilities in 13 of 22 sectors set in the master plan for the acceleration and expansion of Indonesian economic development.”
According to government figures, the US this year was the fourth largest investor in Indonesia, having poured $703 million into the nation in the first half of 2012.
Indonesia’s growth is currently the second fastest among the G-20 major economies behind China. Investments accounted for 32.9 per cent of GDP in the second quarter of 2012, the highest share since the Asian financial crisis. Total investment climbed 24 per cent to $8.13 billion in the period compared to the second quarter 2011, Mohamad Chatib Basri, chairman of Indonesia’s Investment Coordinating Board, announced on July 25.
On the downside, easing exports led to a June trade deficit of $1.32 billion that is the widest in at least five years. Exports fell 16.4 per cent in June from a year earlier, while imports rose 10.7 per cent due to higher domestic consumption.
Indonesia’s GDP rose 6.37 per cent in the second quarter 2012 from a year earlier, exceeding expectations, the country’s Central Bureau of Statistics said in its report on August 6 as reported by Inside Investor. Forecast for GDP growth for the entire year 2012 is 6.8 per cent.
[caption id="attachment_4146" align="alignleft" width="300"] Indonesia's economy is currently the second fastest growing of the G-20 nations behind China[/caption] A group of US companies will invest up to $5 billion over the coming two years into to manufacturing, infrastructure and energy projects in Indonesia, the country's Industry Ministry announced on August 10. A Memorandum of Understanding with the US firms was signed in Jakarta last week. The companies will also provide consultants on infrastructure development, information technology, oil and gas projects and green technology. One major project to be realised under the MoU is the construction of four ethanol plants, to be...
A group of US companies will invest up to $5 billion over the coming two years into to manufacturing, infrastructure and energy projects in Indonesia, the country’s Industry Ministry announced on August 10.
A Memorandum of Understanding with the US firms was signed in Jakarta last week. The companies will also provide consultants on infrastructure development, information technology, oil and gas projects and green technology. One major project to be realised under the MoU is the construction of four ethanol plants, to be jointly built and operated by Indonesia’s state owned oil and gas company PT Pertamina and Texas-based Celanese Corporation.
Indonesia’s Industry Minister Mohamad Suleman Hidayat said in a statement after the signing of the MoU that the US companies “will provide assistence to develop infrastructure facilities in 13 of 22 sectors set in the master plan for the acceleration and expansion of Indonesian economic development.”
According to government figures, the US this year was the fourth largest investor in Indonesia, having poured $703 million into the nation in the first half of 2012.
Indonesia’s growth is currently the second fastest among the G-20 major economies behind China. Investments accounted for 32.9 per cent of GDP in the second quarter of 2012, the highest share since the Asian financial crisis. Total investment climbed 24 per cent to $8.13 billion in the period compared to the second quarter 2011, Mohamad Chatib Basri, chairman of Indonesia’s Investment Coordinating Board, announced on July 25.
On the downside, easing exports led to a June trade deficit of $1.32 billion that is the widest in at least five years. Exports fell 16.4 per cent in June from a year earlier, while imports rose 10.7 per cent due to higher domestic consumption.
Indonesia’s GDP rose 6.37 per cent in the second quarter 2012 from a year earlier, exceeding expectations, the country’s Central Bureau of Statistics said in its report on August 6 as reported by Inside Investor. Forecast for GDP growth for the entire year 2012 is 6.8 per cent.
