Issue link: http://read.dmtmag.com/i/81895
Indonesia: A Promising, Complicated and Emerging Market for Utah Companies Th e upcoming Utah Trade TRENDS AND TIDBITS Mission to Indonesia (September 24-28) off ers business owners an excellent opportunity to explore this unique country, with the world's fourth largest population of 240 million and an economy anticipated to grow at an average rate of 8 percent over the next several years. What specifi c opportunities does that create for the com- panies in Utah? Currently, there are 19 scheduled and 41 chartered airline companies operating in Indone- sia. Utah aviation industry has signifi cant opportunities along all aerospace subsectors. Specifi - cally, there is a pressing need for air traffi c control systems, airport ground support equipment, safety and security equipment, IT infra- structure and services, and engi- neering and logistics surrounding the airport supply chain. In January 2009, the Govern- ment of Indonesia issued new mining regulations covering mining areas, coal and mineral businesses, mining supervision, reclamation and post min- ing issues. Th e regulations are expected to increase investors' confi dence and help Indonesia's mining industry reach $147 bil- lion in real terms 2015. Utah busi- nesses have prospects in supplying mining equipment and services to be utilized in various stages of mining operations. As the fourth most populous country in the world, Indonesia relies heavily on imported medical equipment and supplies. Total imports of medical equipment grew from $508 million in 2009 IDA UNIVERSAL September-October 2012 to $543 million in 2010, with U.S. imports accounting for 20 percent of this market. Th is sector contin- ues to present excellent opportu- nities for Utah companies with predicted strong growth over the next two years. According to the market research done by the U.S. Commercial Service, life support equipment such as ventilators, anesthesia equipment, patient monitoring equipment, electro- medical equipment, ultrasonic scanning machines, diagnostic equipment, and disposable prod- ucts render the best prospects. Albeit Indonesia's market off ers tremendous opportunity to Utah exporters of goods and services, small- and medium-sized fi rms entering the Indonesian market increase their likelihood of success working with strong local agents or distributors. Th e upcoming trade mission, led by the Governor's Offi ce of Economic Development, in conjunction with the World Trade Center Utah and the Small Business Administra- tion, helps off set foreseeable red tape and establish valuable net- works with other U.S. companies already doing business in Indone- sia. Th e U.S. Commercial Service Jakarta helps interested companies identify and qualify potential Indonesian representatives. Th e trip will include a variety of business meetings and net- working opportunities, among other valuable activities. For an aff ordable rate, U.S. Commer- cial Service Gold Key Match- ing Services will be provided to companies interested in engaging and evaluating potential distribu- tors, joint-ventures, and other partnerships. ● www.utahpulse.com/view Mining Equipment to be Auctioned in September Ritchie Bros. Auctioneers, which claims to be "the world's largest industrial auctioneer," said it will conduct an unreserved public auction of more than 180 pieces of mining and earthmoving equipment on Sept. 27 at its site in Raleigh-Durham, N.C. Th e company said the sale represents a divestiture of non-strategic equipment from Trinity Coal Corp. Trinity, which was headquartered off the St. Albans exit of Interstate 64, was acquired by India's Essar Group in 2010. David Stetson, chief restructuring offi cer for Trinity Coal, said in a prepared statement issued by Ritchie Bros. that Trinity had been using the equipment at its coking and thermal coal mining complexes in Ken- tucky and West Virginia. Information about the equipment in the auction is posted online at www.rbauction.com/bigiron. ● www.dailymail.com Trends continued on page 39 33