Indonesian President Susilo Bambang Yudhoyono today opened the Indonesia Business-BUMN Expo and Conference (IBBEX) 2010, a two day conference to promote the country’s state-owned enterprises (SEOs). Focus is on areas such as mining and energy, banking/finance, logistics and agri-business.

IBBEX 2010 is aimed at both business players and the general public. Activities will involve an exhibition and discussions on the current role of Indonesia’s SEOs, their strategies for expansion in the future and ways to compete in the global marketplace, both within Indonesia and overseas.

President Yudhoyono has also ordered a thorough review of all SEOs and their activities by 2013 in an effort to maintain competitiveness, and given his ministers authority to merge, restructure or even liquidate inefficient enterprises if necessary.

“If there are still SOEs that are inefficient, not productive, not profitable and with no prospects, something will have to be done,” he said in his speech opening the expo.

Indonesia has 141 SEOs covering several business sectors, which brought in Rp 45.3 trillion (US$5.06 billion) in net profit in the first half of 2010, an 18.26% increase on the same period last year.

source & articles: The Jakarta Post