First Playboy and now Forbes. Foreign media companies are taking an increasing interest in the Indonesian market.

Forbes, America’s oldest business magazine, will hit Indonesian newsstands in September. Vice chairman of Forbes Inc, Christopher Forbes, visiting Jakarta, said:

With over 200 million people, Indonesia has a huge domestic market. It also has the resources and the possibility to become a major exporter as well as a huge consumer market, so it’s got the best of both worlds.

He said that he had learned that Indonesia’s economy was rapidly recovering from the 1997 economic crisis, with a new breed of youthful entrepreneur emerging, and he convinced his brother, Forbes president Steve Forbes, that the market in Indonesia was ready.

Former state minister of state-owned enterprises Tanri Abeng will publish the upcoming Forbes Indonesia through The Investor Group, a local media group that publishes Investor Daily and Suara Pembaruan.

The president and publisher of Forbes Asia, William Adamopulous, said the company was targeting an initial circulation of 25,000 for the Indonesia version “and to increase that number as time goes by.”

Forbes Indonesia will be part of the Forbes network in Asia, joining Forbes Asia and Forbes Nihonban in Japan, Forbes Korea, and Forbes China, he added.

The company expects Forbes Indonesia to attract readers from among the ranks of local entrepreneurs, professionals, senior business executives and “high-net-worth” individuals.

It will be going head to head with the Indonesian edition of Businessweek, along with local business magazines, such as Swa and Warta Ekonomi.

President of The Investor Group and CEO of Forbes Indonesia Wim Tangkilisan said that the magazine’s first issue would have between 20 and 30% local content, and that this would be grow to 60% within a year.

We can tell you that it will be a rich edition with profiles of risk-taking entrepreneurs and stories on how to make money and how to spend it.