• Steel Industry Indonesia Still Plagued by Chinese Competition

    The overall capacity utilization of Indonesia's steel industry could grow to 80 percent from 50 percent currently. However, it will require government support. Hidayat Triseputro, Executive Director of the Indonesian Iron and Steel Industry Association (IISIA), is optimistic this target can be achieved as the government's push for infrastructure development is showing positive signs (in the second half of 2015 there have been more groundbreaking ceremonies for large government-led infrastructure projects across the country).

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  • Domestic & Foreign Tourism in Indonesia Expected to Rise at Year-End

    Arief Yahya, Indonesia's Minister of Tourism, said domestic tourists in Indonesia have spent more than IDR 140 trillion (approx. USD $10.1 billion) during the first nine months of 2015 and this figure is expected to rise sharply as many locals will use the Christmas and New Year period to take a holiday somewhere in the world's largest Archipelago. It is estimated that in the January-September 2015 period, domestic tourists made 187.3 million trips. This implies that in each trip a local tourist spends about IDR 750,000 (approx. USD $54) for transportation, hotels, food and souvenirs.

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  • Budget Deficit of Indonesia Safe on non-Optimal Government Spending

    One advantage of Indonesia's non-optimal government spending is that it somewhat covers for the shortfall of tax revenue that is expected to occur in 2015. The shortfall in tax collection may reach up to IDR 250 trillion (approx. USD $18 billion) and this failure to meet the government's tax collection target in the 2015 State Budget was the reason behind the resignation of Sigit Priadi Pramudito as Director General of Indonesia's Tax Office. But with government spending estimated to reach only about 90 percent of this year's target, the budget deficit should not go beyond the 2.7 percent of gross domestic product (GDP) mark.

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  • Freeport Indonesia Studies IPO on the Indonesia Stock Exchange

    The recent visit of Indonesia Stock Exchange (IDX) General Director Tito Sulistio and Director of Corporate Listing Samsul Hidayat to Freeport Indonesia's Grasberg mine in Timika (Papua), signals that the subsidiary of US-based natural resources company Freeport McMoRan Copper & Gold Inc is serious about studying the possibility to divest a 10.64 percent stake through an initial public offering (IPO) on the IDX. Both Directors met Freeport Indonesia's General Director Maroef Sjamsoeddin at the world’s largest gold mine and third-largest copper mine.

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