Indirect Economic Impacts
Antam's presence is expected to continue to bring both direct and indirect benefits to local communities--especially to those who live within the perimeter of the Company’s operating areas. An example of Antam’s contributions to the local economy would be the utilization of local, competent labor.
The total percentage of local labor to the total number of permanent employees in each of Antam’s Business Units and Unit can be found here.
Meanwhile, the manifestation of Antam’s indirect contribution to the community is, among other, the selection of local vendors to supply the goods and services required by the Company; these local vendors are expected to absorb local labor. In 2011, local vendors represent 40% of the total number of Antam’s vendors amounting to 745 business entities, up 38% compared to last year’s percentage of 29% of the total number of Antam’s vendors of 733 business entities.
The number of Antam’s vendors can be found here.
Antam’s other local-economy development initiative is also manifested through the Company’s participation in the Partnership Program launched by the Government through the Minister of State-Owned Enterprises’ Regulation Number PER-05/MBU/2007. The program is intended to promote local economies through the development of Small and Medium Enterprises (SME). In accordance to the said regulation, Antam’s Partnership Program is to distribute funds allocated from the Company’s Income for the Year Attributable to Owners of the Parents (2%) as capital loans to SME owners residing within the Company’s operating areas.