Indonesia's economic growth remained positive at the moment other countries wracked financial crisis in 2008, inflation was low, the stock price index (CSPI) also continued to climb higher to make
This story is recycled, the Secretary of the company PT Perusahaan Gas Negara (PGN) Wahid Sutopo when speaking in "Dissecting Media Update on Performance of State Owned Enterprises (SOEs)" in Jakarta, Wednesday (04/21/2010). "People of Chile, said he was only an investment in six countries, and Indonesia is the third largest in its portfolio. For him, Indonesia is in the best condition right now, "he said.
"This is the time to buy Indonesia," about such themes nondeal roadshow which will be done by the government and PT Danareksa in Singapore next week. The goal, drawing in foreign capital as much.
Its main target, perhaps there are some of the foreign capital which settled a bit long in the country, between three and eight years, and not just a hit and run (and out of the capital market) for maximum profit.
Market capitalization on the Indonesia Stock Exchange (IDX) is expected to touch USD 2 500 billion at the end of the first half of 2010. It was not until the task is too heavy for the first quarter-2010, market capitalization had reached Rp 2,300 trillion.
In the next two years, BEI-added target on the stock of listed companies (issuers) to 500 companies. Until now the number of issuers listed on the Stock Exchange up to 405 companies.
BEI also target the number of investors as much as one percent of the total Indonesian population, or about 2.3 million investors capitalization value could reach Rp 3,000 trillion.
The owner of a large fund
It seems not difficult to invite the owner of a large fund to invest overseas in a country that can provide the expected benefits an average of 15-20 percent per year.
The difficult part is to resist much longer the funds that foreign hedge funds in Indonesia and down on the real sectors. As an illustration of the lack of channels of capital markets and real sector can be seen from the market capitalization of 14 SOEs which have entered the stock exchange.
Five of these large SOEs recorded remarkable growth in market capitalization. However, the average growth performance is underpinned by economic improvement in the nontradable sector, meaning not to the sector does not attract many jobs.
With a little promotion outside the country, investors would be interested in Indonesia. For example, PGN is able to provide the increase in state wealth (the dominant shareholder) from increasing the market capitalization of USD 1.4 trillion in 2003 to Rp 57 trillion in 2009. Rose 1300 percent.
Conditions that made the demand for investment instruments is very large. Economist idA Indonesia (Outlook), Kahlil Rwoter, estimates, additional reserves will go to Indonesia at end of year 2010 could reach 30 billion dollars, ie from position 70 billion dollars currently to 100 billion dollars at end of year 2010.
If the increase of 30 billion U.S. dollars that half is allocated for investment in the Indonesian capital market, there will not be enough investment instruments that can accommodate the foreign demand.
Unless the Ministry of Finance issued treasury bonds of 100 percent of the state budget, which is set USD 1104 trillion in the draft 2010 State Budget Changes. However, it is not allowed the public.
To channel funds from capital markets to the real sector, it takes effort that is much harder than just nondeal or promotional roadshow to Singapore.
The Economist magazine (edition of 17 to 23 April 2010) in tajuknya illustrate that the advantage of Japan and China in attracting investment is not simply providing cheap labor, like the underdog Indonesia so far, but also the ability to innovate.
Japan and China increasingly attractive because it could give the industry a slim structure. It can only direaliasikan creativity by developing to reduce the cost of production.
Roubini Global Economics, LLC, an established economist Nouriel Roubini of New York University, warned that Indonesia could still remain interesting because they still have a huge domestic demand. However, it was not enough. Indonesia also needs to secure supplies of energy and forward the reform of the bureaucracy.
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