On June 15, 2011 the Indonesian Petroleum Association submitted to the Indonesian Supreme Court a petition for judicial review against Government Regulation Number 79 Year 2010 concerning Recoverable Operational Costs and Income Tax Treatment for the Upstream Oil and Gas Industry, because certain provisions of the regulation have seriously taken a...
Amidst the global economic uncertainties of late 2011, Indonesia’s fundamentals are relatively sound. Its foreign currency reserves had surged to $113.9bn as of October 2011, the Jakarta Composite Index is becoming more robust, the rupiah is fairly stable and exports are soaring. The economy registered growth of 6.5% during the third quarter of...
MINING LAW: Mining permits (IUP), Small-scale mining permits (IPR) and special mining permits (IUPK) constitute the mining permit regime under the new Law No. 4 of 2009 concerning mineral and coal mining. The mining industry is now classified into:
An archipelago of over 17,500 islands, Indonesia is today the world’s fourth-largest country by population, at 245m. The astonishing diversity of ethnicities and cultures comes together in a democratic framework under the pancasila, or “five principles”: nationalism, humanitarianism, representative democracy, social welfare and monotheism
As evidenced by Sarawak’s positive performance across a variety of subsectors, its economy is already among the most diversified in Malaysia, even before the impending wave of industrial projects begins to contribute. Financial incentives and substantial investments in infrastructure appear to have generated considerable international interest from a range of industries.
Jordan’s stable political environment, as well as the robust growth projections for its economy, should ensure near term investment inflows continue to fuel growth across the board; however, regional instability has been having a negative impact on the country’s tourism sector and rising refugee numbers are putting increased pressure on state services.
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