An Outline of Prajogo Pangestu and His Tropical-Hardwood Plywood Producing Efforts

Indonesia’s richest individuals have a significant impact on the country’s economy, as well as on the growing number of people who can gain access to jobs, healthcare and education.

This is the case of Prajogo Pangestu, the man who went from running a small business to becoming one of the wealthiest men in the entire country. Although today he is no longer a billionaire, he still remains among the 50 richest people on Indonesian soil.

Fast Progress in the Plywood Industry

Mr. Pangestu started out by owning a small timber outfit in a period when business in Indonesia wasn’t going all that well. However, he quickly managed to climb the ladder of the local plywood industry and gain control of Barito Pacific, the world’s largest producer and Indonesia’s largest exporter of high quality tropical-hardwood plywood.

Experts say that Mr. Pangestu managed this feat by taking advantage of a decision made by the Indonesian government involving rescheduling debts. The decision had an impact on Pangestu’s companies, so that the Indonesian entrepreneur managed to maintain his status as one of the richest people in the country.

Jobs, Training and a More Stable Economy

The work done by many wealthy individuals in Indonesia has had an enormous impact on the country’s economics, as well as on its people.

With unemployment being one of the most significant problems in Indonesia, the jobs created by large companies are able to provide unemployed individuals with a better opportunity to gain access to better job, improved income and a better life.

By expanding their business horizons and achievements, large companies are also in the unique position to help people gain access to improved education and healthcare, while educating, for instance, local farmers in order to help them produce better yields.

Contrary to popular belief, even though a disproportionate number of rich people exist in Indonesia, compared to the large number of less fortunate individuals, the wealthy are by no means selfish, and many have managed to create great opportunities for economic growth throughout the country.