BNI to open branches in S. Korea, Myanmar

26 January, 2015 | Source: ANTARA NEWS

Jakarta (ANTARA News) - PT Bank Negara Indonesia (BNI), the countrys fourth largest bank in assets, said it would open branches in South Korea and Myanmar this year.

"Proposal for the opening of the branches in South Korea was already submitted late last year and proposal for one in Myanmar was already made a year earlier," Gatot M. Suwondo, president director of the publicly traded state lender said here on Friday.

Gatot said expansion to the two countries is included in the banks business plan as reported to the shareholders.

"We focus expansion to the two countries. Later we will open another branch in Malaysia," he said.

He said it is not easy to open a branch abroad as "we have to follow the regulation of the destination country."

BNI, therefore adopts the strategy of "based on related business", that BNI is ready to serve Indonesian business people seeking expansion abroad, he said.

"At the same time we hope to encourage foreign investors from the foreign country to do business in Indonesia," he added.

The unit to be opened in South Korea, will be a full branch as requested, but the one in Myanmar could not be directly to operate as full branch.

"In South Korea apart from facilitating investors BNI also will serve Indonesian migrant workers. In Myanmar, BNI wants only to help promoted investment cooperation between the two countries," Gatot said.

The plan to open a branch in Malaysia is yet to be proposed, he said.

Opening a subsidiary in Malaysia is required to have a capital of at least Rp1 trillion.

 

Strong consolidation needed to face global economic turbulence Reporter: Agus Salim 3 hours ago President Joko Widodo (Jokowi) addressing at a ceremony commemorating the 50th anniversary of the Indonesian Chamber of Commerce and Industry (Kadin) on Monday night. (Agus Salim) Jakarta (ANTARA News) - President Joko Widodo (Jokowi) reminded the country`s fiscal and monetary authorities and the business of the need for strong coordination and consolidation to face the global economic uncertainties. "Uncertainties in the global condition, trade war between the United States and China, increase in interest rate, crisis in Argentina and Turkey, would necessitate strong consolidation and coordination between the monetary and fiscal authorities and the business sector," Jokowi said addressing a ceremony commemorating the 50th anniversary of the Indonesian Chamber of Commerce and Industry (Kadin) here on Monday night. He said good coordination and consolidation would make it easier to develop the public and market confidence. "It is the same as in developing a corporation. Trust brand is vital. The state needs that. Building up trust and market confidence that the international communities, domestic market believe that we are working seriously to settle state problems," he said. He said Indonesia is a big country with a population of 263 million, the fourth largest in the world, having 17,000 islands and made up of 34 provinces. "It is not easy to manage such big country . Each area has own cases, and requirement different from each other," he added. He said developing Indonesia concerns not only economic and political aspects. "If we are concerned only with economic and political gains we need only to focus on development of Java, which is home to 60 percent of the country`s population, but we think of a nation. We are concerned not only with expanding business empire leaving Papua, North Maluku, NTT and other eastern Indonesian regions to suffer in backwardness," he said. Currently imbalance is still wide in infrastructure between the country`s western, central and eastern regions, he said, adding Indonesia is seeking to catch up with other countries. He cited three years earlier, Indonesia had only 231 water reservoirs and dams as against 6,000 dams in the United States and 110,000 dams in China. "This is fact that has to be presented and we have to do something about it," he said. He also spoke about progress made in the construction of toll roads saying after the Jagorawi toll road was operational until early 2015, Indonesia had only 780 km of toll road as against China`s toll roads totaling 280,000 km. "We need to know the condition we are in before we start working hard to make up for the gap especially in eastern Indonesia," he said. Reporting by Agus Salim Editing by Albert Saragih Editor: Bustanuddin COPYRIGHT © ANTARA 2018 AddThis Sharing Buttons Share to FacebookShare to TwitterShare to Google+Share to WhatsAppShare to LINEShare to PinterestShare to GmailShare to EmailShare to More Prev News Indonesia calls for reconciliation and justice for peace Next News Puan attends UN meeting on world peace Comments
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