(iTers News) - Hitachi Asia Ltd. today announced that it has established its subsidiary, PT. Hitachi Asia Indonesia in Jakarta, Republic of Indonesia to grow operations and further expansion of its Social Innovation Business in Indonesia. The new company was established with initial capital of US$3 million, andwill start its operations in October 2013.
"Hitachi considers Indonesia as the biggest opportunity market in the ASEAN region. As the country targets to be the 10th largest economy in the world by 2025, as laid out in the 'Indonesia Economic Master Plan' or MP3EI, it's inevitable that the government needs to invest in social infrastructure like transportation and power generation," said Yukio Toyoshima, Managing Director of Hitachi Asia Ltd. "This presents plenty of business opportunities for Hitachi in providing social infrastructure products and solutions to the Indonesian market."
Although Indonesia's economy is projected to increase by less than 6% this year, the government is raising infrastructure spending from 2% to 2.5% of GDP designed to counter slowing growth. In four of the past five years, Southeast Asia's largest economy grew by more than 6%.
"We are excited about the setting up PT. Hitachi Asia Indonesia because now Hitachi will gain greater flexibility to grow our social infrastructure business and will better enhance our competitiveness as we continue to build solid relationships with Indonesian businesses," said Hiroyuki Yagi, PresidentDirector of PT Hitachi Asia Indonesia. "Through our wide range of business portfolio, we are confident that we can contribute to the development of the Indonesian society over the medium- to long-term."
Hitachi has been doing business in Indonesia since 1932 where its first exports were electric motors and electric fans. In 1975, Hitachi, Ltd. established the Jakarta Representative Office and later in 1995 its management was transferred to Hitachi Asia Ltd. Since then, it has marketed a wide range of products and services for various industry sectors like power transmission & distribution systems, infrastructure systems, IT systems and automotive systems.
To further boost its brand awareness, Hitachi will unveil its marketing communications campaign in the Indonesian market starting this month under the slogan "SOCIAL INNOVATION - IT'S OUR FUTURE". To be seen in Indonesian TV, print and outdoor media, the new Hitachi campaign endeavors to build the brand as a global company in the Social Innovation Business.