Indonesia counts cost of counterfeiting
29 November 2011
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Peter Ollier, Hong Kong
A university study has revealed that counterfeiting is costing Indonesia’s economy at least Rp43.2 trillion ($4.7 billion) a year in lost taxes
The Institute for Economy and Society in the Faculty of Economics at the University of Indonesia conducted the study in cooperation with the Indonesia Anti Counterfeiting Society (MIAP). The study was released at the beginning of this month.
“The nation is really suffering because of counterfeiting,” said Widyaretna Buenastuti, in-house for Pfizer and chairman of MIAP.
According to Bloomberg Businessweek, Indonesia’s economy grew 6.54% in the fourth quarter of this year, which ran until the end of September. It was the fourth quarter in a row where economic growth has exceeded 6%.
The country is regularly tipped by analysts as a good investment as growth slows in the US and Europe, and is particularly...
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