Update COVID-19 in Indonesia: 497,668 confirmed infections, 15,884 deaths (23 November 2020)
23 November 2020 (closed)
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General Electric (GE), one of the largest American multinational conglomerates, has already started to show its commitment to invest in Indonesia. Over the course of three years, the company will invest USD $300 million in Southeast Asia's largest economy. CEO of General Electric Indonesia, Handry Satriago, stated that - although the year 2013 was a year full of challenges - the company managed to record revenues worth about USD $1 billion and aims to reach double-digit growth in 2014.
Indonesia's elections (legislative and presidential elections will be held in April and July 2014), however, can form a bottleneck this year as the government tends to postpone important infrastructure projects or decisions until after the elections.
Indonesia - with its steady growing macroeconomy (around 6 percent of economic expansion in recent years) and its serious need for infrastructure development - is an important market for General Electric. The company is engaged in various sectors of Indonesia, including transportation, energy, aviation, oil & gas and health.
Part of General Electric's business strategy is to cooperate with Indonesian companies or other institutions (such as universities). For example, the company works together with national airline Garuda Indonesia for the service maintenance of CFM 56-7B engines.
General Electric is also busy expanding its manufacturing of christmas trees (used for petroleum and natural gas extraction near the coastline of Batam). This makes Indonesia the first country in the Asia Pacific that has production facilities for the manufacturing of (vertical) subsea production trees.
Satriago also said that General Electric is engaged in the establishment of the Indonesian Learning Center, which should be established by 2015. This learning center will provide training to hundreds of employees of state-owned companies Pertamina and Perusahaan Listrik Negara (PLN).