Indonesia needs Rp 104 billion (US$10.92 million) to participate in the six-month World Expo 2010 in Shanghai, China, but aims to earn Rp 1 trillion in transactions, a ministry official said.
The expo, to be held from May 1 to Oct. 31 next year, is expected to attract more than 200 participating countries and 70 million visitors worldwide, according to its website en.expo2010.cn.
So far 192 countries and 50 international organizations have confirmed their presence in the expo.
“There will be a business mission, trade mission, business forum, and promotion of products, investment and culture during the six-month [expo],” Edy Putra Irawadi, deputy to the coordinating minister for the economy, in charge of industry and trade, said Tuesday after a meeting with the industry minister.
He said Indonesia would promote export-oriented goods, investment and tourism in the expo.
The Rp 104 billion will be used to rent 4,000 square meters of exhibition space in the expo, said Edy.
This is five times more than the Rp 20 billion spent in 2003.
Indonesia is looking to attract inward investment, and has managed to score respectable economic growth this year despite the continuing global economic downturn.
The government estimates the economy will expand 4.3 percent in 2009, and 5.5 percent next year as the global economy recovers.
“The Investment Coordinating Board [BKPM] will present [investment] projects that become our focus, like infrastructure, energy and foods,” said Edy.
Analysts say Indonesia will need more investment to expand its consumption-driven economy.
China, where the expo will be held, is the emerging world leader in the global economy.
Since 2000 its economy has seen a growth of above 8 percent, even reaching double-digit growth in 2006 and 2007.
Industry Minister M.S. Hidayat said Indonesia should make good quality international-standard preparations ahead of the expo to promote local goods and industries.
“We need to have good preparation, using a good event organizer,” he said.
