Wed, 05 Jan 2011
Jakarta (ANTARA News) - Chief economic minister Hatta Rajasa said he believed foreign capital inflow for direct investment would rise this year.

"In 2011 it will increase by more than US$12 billion," he said here on Tuesday.

He said in 2010 the capital inflow for direct investments reached US$12 billion and for portfolios US$16 billion.

Although the capital inflow for direct investment would rise it did not mean that capital inflow for portfolios would decline, he said.

"This is because our capital market`s index growth is the highest in the Asia Pacific region," he said.

He said he hoped investment cooperation with Singapore would become one of the factors that would boost foreign direct investment in 2011.

"We have agreed with Singapore to focus on investments in infrastructure, connectivity, port and manufacturing projects. Singapore as the international financial hub would promote investment opportunities in Indonesia to foreign investors," he said.

On the government`s plan to limit consumption of subsidized fuels, the minister said limiting fuel oil consumption was not the same as raising its price.

"A fuel price hike only touches fiscal matters while if it is done it will affect all people including the poor," he said.

Hatta said the government would approach the issue in fiscal as well as sense of justice terms so that the policy to be adopted would only affect selected segments of the people.

"If only a fiscal approach is used it will be enough to just raise the price. The law however states that the government should continue to subsidize the economically weak segments of the population," he said.(*)



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