Friday, December 3, 2010

RI, China share experience in developing state enterprises

Friday, December 3, 2010

Jakarata, Indonesian and Chinese state enterprises are expected to be able to share their experience in making both countries state enterprise profitable, Mustafa Abubakar, minister of Indonesian State-Owned Enterprises, said.

"State-Owned Enterprises in Indonesia play an important role in the country`s development. And I hope the directors of our state-owned enterprises could learn from the transformation of Chinese enterprises," the minister said in his remark in a morning dialogue about Chinese Experience in Making State Enterprise Profitable, here Thursday.

According to Mustafa, the Indonesian State Enterprises had made progress in realizing the world class corporation by having work culture transformation, restructuring, privatization and synergy development.

He also said that Indonesian State Enterprises could be world class enterprises like China, whose banking and energy enterprises had become global players.

"Iam optimistic that our state enterprises have big opportunity for improvement. And I think the keys are good management and leadership," the minister said.

Moreover, Mustafa said that the Indonesian state enterprises had become economic backbones and driving forces for growth like Chinese enterprises.

"The success of many State Enterprises in Indonesia has showed that our state enterprises are playing an important role for developing our country, and it has broken the rule that state enterprises is identical with mismanagement and inefficiency," he said.

However, the Ministry of State Enterprises also needed to be improved to make better ministry in building up the Indonesia.

"The Ministry of State Enterprises also needs to be increased by having restructuring enterprises, so that the Ministry can be more competitive, efficient and synergistic," he said.

Meanwhile, Prof. Xiao Geng, the Director of Columbia Global Center-East Asia, said the China government had reformed its state enterprises gradually since 1978 by keeping the big enterprises and release the small and loss ones.

"From 1993 until now, the reformation of state enterprises in China has come to the third phase, where the main element of this step is to maintain the big enterprises, while the small ones are released," said the professor here Thursday.

Furthermore, Xiao Geng said transferring composition of government ownership into private one, by inviting asset from private company to join, was also the effort done by the Chinese government to increase the role of state enterprise there.

In relation to the initial public offering (IPO) of Krakatau Steel assets by inviting foreign common stocks, Mustafa said people should not think negatively to the foreign shares because the aim of the offering was to bring better changes on the economic.

"The lack of knowledge about IPO makes citizens to have distortions in understanding the meaning of IPO itself. So that, it is the media?`s duty to give clear information about the interference of foreign shares that not always bring loss to our economy," the Minister said.


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