Indonesia and Taiwan setting up Special Economic Zone in North Indonesian Island

Susilo Bambang Yudhoyono, the president of Indonesia has just approved a proposal to establish a special economic zone in one of Indonesia's Northernmost islands and where a joint development project with Taiwan is occurring, in Morotai.

The representative of the Taipei Economic and Trade Office Indonesia, announced that Indonesia and Taiwan will hold a meeting next week to discuss details of the joint development project, where one or two priority sectors will be selected to start off with - possibly agriculture and tourism.

Microsoft shifting into Asia Pacific as technology is growing

Cesar Cernuda, president of Microsoft’s Asia Pacific business - selling devices, software and services in 39 countries and territories quartering one billion people – took his job in Asia, last year in Singapore. This is as he exemplifies the worldwide reach and perspective of a company, seeking to make up for lost ground by concentrating more on emerging markets – where the smartphone era has also just begun to emerge.

He believes China and India may receive the most attention for the Asian business, due to the large sizes of the countries. However, he claimed of Indonesia being expected to become the fourth largest economy in the world by 2050.

Indonesia’s future and its interesting culture towards how technology is currently utilised, has been acknowledged. An emerging country, Indonesia is acknowledged as a young country—the population has an average age of 28—enthusiastic towards technology. Microsoft’s share of the Indonesian smartphone market is expected to triple this year.

Indonesia central to ASEAN - High potential for international trade

The three day World Economic Forum (WEF) on East Asia 2014 commenced in Manila yesterday, receiving over 600 leaders, entrepreneurs and thinkers together.

Issues will be discussed, including the optimal way to compose the 10 member Association of South East Asian Nations for the ASEAN Economic Community planned for next year, which is to allow freer flows of capital and lower trade barriers.

Collectively, the ASEAN member states structure one of the largest economies of Asia, with gross domestic product (GDP) at approximately $2trillion and a population of over 600million people.

Indonesia, the largest economy of South East Asia, may benefit from freer trade under the AEC. Its automotive sector rival’s Thailand’s, as it assembles and ships vehicles locally and internationally. Japanese vehicle producers have recently been raising their investments in Indonesia, acknowledging the demand for cars, motorcycles and trucks remains strong. The nation’s youth population, alongside low labour costs makes it an appealing investment location for overseas companies including the Foxconn Technology Group, who produce the iPhones and iPads for Apple.

'Indonesia's market has the highest potential of the Asia Pacific'

Sony Mobile Communications has claimed Indonesia’s market has the highest potential of the Asia Pacific, as the country’s middle class continues to rise. Indonesia was said to be a significant for Sony, owing to its growing population. As the middle class and population increases, so does the demand for smart phones. Sony aims to take this opportunity to grow its sales within Indonesia, using heavy investment only within Indonesia throughout the Asia Pacific.

A GFK study ranked Sony as second in the mobile phone market by value. Sony had received orders for over 1,200 Z2 phones since it was launched in early March this year.

Doubletree Hilton opens in Jakarta

Hilton has finally opened a Doubletree hotel in Indonesia, which could only mean it must be the right to invest in hotels and leisure!

Diponegoro offers 253 rooms as well as seven events and meeting rooms, catering for up to 800 people. This is as well as a 24 hour business and fitness centres, all in the core of Indonesia, Jakarta.