20 Jun '11, 2pm

(ST|blog) Business deals pledged but old concerns remain

Zubaidah Nazeer on Indonesia's longtime challenges which may hamper its competitiveness THE World Economic Forum (WEF) on East Asia has generated a suite of business deals for host country Indonesia, with about Rp 85 trillion (S$12.2 billion) in investment pledged by businesses eager to enter the country’s booming market. Longtime challenges such as a lack of physical infrastructure and human resource could still hamper progress. One of the largest investment pledges at the two-day event, which ended last Monday, came from multinational giant Unilever who reportedly planned to invest up to Rp 2 trillion a year in Indonesia, creating thousands of jobs. The world’s second-biggest consumer goods company is already in the process of shifting its soap factory from Germany to Indonesia, said Industry Minister Muhammad Sulaiman Hidayat. The move forms part of Unilever’s shift in ...

Full article: http://blogs.straitstimes.com/2011/6/20/business-deals-pl...

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