Wayne Forrest


About wayne-forrest2

Wayne Forrest is President of the American Indonesian Chamber of Commerce, a private not for profit membership organization based in NY.

New Indonesian Mining Divestment Rules

Is Mining Divestment Such a Benefit to Indonesia?Indonesia is following a worldwide trend of pushing out foreign ownership of mining assets. A March 8 Reuters story began "Indonesia will take more of the profits from its vast mineral resources by limiting foreign ownership of mines". But, is that what necessarily happens when more of the [...]

Prof. Widjojo Passes Away

One of Indonesia's heroes has passed away. Professor Dr. Widjojo Nitisastro, leader of the "Berkely Mafia" (a group of young Indonesian economists educated at UC Berkely in the 1960's under Ford Foundation aegis, became the economic architect of President Suharto's New Order. Under his leadership Indonesia's economy not only averaged 7% growth, but significant segments [...]

By |March 9th, 2012|Uncategorized|0 Comments

Regions Demand More

Indonesia’s fourth President Abdurrahman Wahid, (“Gus Dur”) once told a small group in NY that federalism in Indonesia was a “dirty word” but that Indonesia would have to implement it under different name. Gus Dur was referring to the first few years of Indonesia’s independence when it was called the United States of Indonesia and [...]

By |February 14th, 2012|Uncategorized|0 Comments

Changes to Capital Minimums/Moody’s Upgrades Indonesia

Background: An inquiry from a member currently in Indonesia exploring a joint venture revealed that the effective minimum capital requirements have recently jumped from $100,000 to $1 million (10 billion rupiah).The Investment Coordinating Board (BKPM) is now interpreting the 2008 Law on SME’s (micro, small and medium enterprises) to classify any foreign investment as “large [...]

By |January 19th, 2012|Uncategorized|0 Comments

2011 Review

By most measures, Indonesia had a banner year. Continuing 6%+ economic growth leading to at least one investment grade sovereign rating (Fitch) and strong performances in world forums (APEC, G20, World Economic Forum, ASEAN Summit, East Asia Summit) characterized 2011. Fears of inflation going into the year never materialized and the rupiah began and ended [...]

By |January 15th, 2012|Uncategorized|0 Comments

Pivot to Asia

Indonesia fell smack in the middle of the Obama Administration's much ballyhooed "Asia Pivot", a wonderful image for the ramp up of engagement with Asia that it has demonstrated. The Administration is to be commended for both the symbolic and real commitments it has made to the region in general and Indonesia, specifically. One could [...]

Web Meeting on Establishing a Small Business in Indonesia: September 7, 7-9 am

Our partners, AMCHAM Indonesia, have organized a live, online briefing on how to establish a small to mid size business in Indonesia. Members of AMCHAM's SME Committee will be discussing business opportunities and best practices. A business case will be presented. Jim Filgo, an AMCHAM Indonesia Governor who heads its SME Committee, will be joined [...]

By |September 6th, 2011|Uncategorized|0 Comments