Indonesia is South-East Asia’s largest economy and the third biggest democracy in the world. It avoided the global recession and its economy expanded by more than 6 percent between 2006 and 2008. Foreign exchange reserves have risen to US$69 billion.
The Indonesian Government has promised to spend US$140 billion on infrastructure over the next five years and its economy is expected to grow by at least 5.2 per cent this year, according to Bank Indonesia.
Also noted this week, the incumbent telco Telkom, told Reuters that acquisitions in 2010 are planned, and would initially focus on IT services and media companies. The firm is due to sign a deal with a local IT service firm, which is aimed at strengthening its non-core businesses.
Telkom president director Rinaldi Firmansyah added last week that the company was eyeing to purchase three telecommunication application service providers this year. Telkom plans to use one of the acquisitions to develop an online healthcare practice.
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