GE's big investment in an emerging market
Over five years, the U.S. company announced plans to develop a rural healthcare program and partner with the state's utility company Perusahaan Listrik Negara, oil firm Pertamina, airline Garuda Indonesia, and the railway company Kereta Api Indonesia to build a "learning and technology center" that will develop products focusing on health care, biomass, and trains.
GE is looking to support Indonesia's planned infrastructure improvements in the coming years, as Bloomberg points out:
Indonesian President Susilo Bambang Yudhoyono, who has led the nation since 2004, has pledged to build more roads, ports and airports to achieve average economic expansion of 6.6 percent by the end of 2014.
“We have seen extraordinary growth in our business here in Indonesia over the past two years in tandem with the country’s accelerated growth path to build more infrastructure," said GE's Chairman and CEO Jeffrey Immelt in a statement.
GE has seen success investing in emerging markets. Last year it brought in 11 percent revenue from emerging markets. GE has seen double digit revenue in Indonesia, specifically, over the last few years. Total investment in Indonesia has now exceeded $1 billion.
Photo: Flickr/chris railway