Thu, 03 Dec 2009
From:
JAKARTA, Dec. 3 (Xinhua) -- Indonesia should seize potential foreign direct investment (FDI) source from foreign house buyers to increase economic development, an official said here on Thursday.

Lukman Purnomosidi, Deputy Chairman of Indonesian Chamber of Commerce and Trade (KADIN) for Housing and Infrastructure, said that all these years, the Indonesian government has been focusing less to attract FDI from overseas house buyers whereas other Asian countries do it.

"Malaysia has program called 'Malaysia my second home' while Thailand has housing program for foreign retirees, so is the Philippines. Indonesia has no such program. I think the government wastes the opportunity," Lukman told the press in the sideline of the KADIN's national official meeting.

According to Lukman, with average price of Indonesian high-class property of 1-1.5 billion rupiah (100,000-150,000 U.S. dollars), the country would grab huge overseas fund.

"Let's take 10,000 units sold to foreign buyers a year, then we will have much FDI," said Lukman, adding that the new foreign owners will come to Indonesia at least one a year.

He said that their arrivals itself is another source of income, not to mention money they spend in Indonesia.

He urged the government to act now in grabbing the FDI.

"Don't be sorry if we run out of market," said Lukman.



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