Wed, 15 Jun 2011
Jakarta (ANTARA News) - HSBC Holdings United Kingdom plans to expand its investment in Indonesia to follow business developments in the country.

"Indonesia has great potentials to grow," Group Chief Executive of HSBC Holdings United Kingdom Stuart T Gulliver said at the World Economic Forum on East Asia here on Sunday.

HSBC which has been operating in Indonesia since 1984 is currently employing around 5,000 Indonesians, he said.

"There is a great potential. We will increase the number of employees and the amount of investment," he said.

According to him, Indonesia has good prospects. It is a Muslim democratic country which becomes a regional leader.

Responding to infrastructure financing, Stuart said banks must think accurately when they are going to finance infrastructure projects.

Infrastructure financing is long term financing covering 20 to 30 years, while banking funds do not cover that long period of time, he said.

It will be proper if infrastructure financing is left to insurance companies and pension fund companies which have long-term funds, he said.

Meanwhile, Chairman of the Investment Coordinating Board (BKPM) Gita Wirjawan said the issue of accelerated infrastructure development no longer rests with funds but with how to offer the projects in a way that investors are willing to invest.

"We must keep trying to create investment friendly condition," he said.

He said the government and the House of Representatives (DPR) are deliberating a bill on land clearance.

"The bill will soon be passed into law to deal with problems related to accelerated infrastructure development," he said



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