Foreigners welcome

Article Abstract:

Indonesia's House of Representatives has passed a law which allows state banks to compete with private banks and foreigners to own shares in private or state banks. State banks predominant over private banks in terms of total credit outstanding, but they are considered inefficient. The law is intended to modernize and increase the competitiveness of state banks and it also grants them limited liability status. Foreigners are now allowed to own a maximum of 49% of shares in state and private banks.

Banking industry, Laws, regulations and rules

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Naval manoeuvres

Article Abstract:

Indonesia's Minister for Research and Technology Bachruddin Habibie wants to appropriate $1.1 billion to overhaul 39 formerly East German naval vessels that were purchased from Germany in Dec 1992 for $12.7 million. Habibie's plan also calls for improvements to 15 Indonesian shipyards, construction of a new deepwater port in Sumatra and acquisition of two oil tankers. The plan is thus an attempt to carry out Habibie's belief in the economic advantages of investment in capital-intensive industries.

Economic policy, Maintenance and repair, Naval vessels, Navies, Shipbuilding, Warships, Habibie, Bachruddin

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