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Asep Sugiharta, an official at the Ministry of Forestry, said that a new bill has been submitted to Indonesia's parliament (DPR) which is expected to open up the potential for geothermal power development in Indonesia. Currently, geothermal exploitation is lawfully defined as a 'mining activity' (Law No. 27 2003) and therefore prohibited to be conducted in protected forest and conservation areas (Law No. 41 1999), even though geothermal mining activities have a relatively small impact on the environment (compared to other mining activities).
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With slowing economic growth and a stricter monetary policy approach of the central bank, Indonesia's ceramic industry is expected to record slowing growth in 2014. This year, the country's ceramic sales are projected to amount to 400 million square meters (m²). About 12 percent of this amount is exported to countries abroad. However, in 2014, sales are expected to plunge by 5 to 10% to 360-380 million m². A weakening rupiah and slowing property sector, which accounts for significant ceramic demand, are the major causes of the decline.
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Starting from 12 January 2014, the export of all mineral-ores are banned in Indonesia. This controversial new policy, stipulated by the 2009 Mining Law (on Minerals and Coal Mining), was agreed upon by the nine fractions in Commission VII of the Indonesian parliament (DPR). Through this new law, the government intends to increase the value of exports while reducing dependence on raw exports and thus becoming less vulnerable to price downswings on the global commodities market.
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According to a survey of the Japan Bank for International Cooperation (JBIC), 44.9 percent of respondents assessed Indonesia as the most promising investment destination for the next three years. The respondents in this survey involved 500 Japanese companies that engage in international businesses. For Indonesia it is the first time in 21 years that it forms the preferred choice of overseas investments for Japanese companies, thus replacing China. In 2013, Japan already dominates foreign direct investment in Indonesia.
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The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer.
