Wed, 13 Sep 2006
RI told to improve legal certainty

More work needs to be done to improve the country's investment climate, German finance company DEG director Michael Bornmann says.

"If we look at the figures of some economic indicators, we have good projects and good opportunities here," Bornmann said (photo left) with DEG Jakarta office director Wilhelm Icke.

The government has been criticized by the private sector for not meeting its deadline to revise the tax, investment and labor laws.

"We have been approached by infrastructure developers saying that they are ready to invest in Indonesia after the legal and other prerequisites are addressed," Bornmann said.

"Some companies, I don't know whether they are eager, but they are interested to invest but they still refrain because of the legal uncertainties."

Michael said the DEG remained optimistic about the Indonesian market and was committed to allocating some 100 million euro, or 15 percent of its global annual financing target for 2007, to Indonesia.

"Indonesia is one of the most important countries in Asia for us. The economy is doing quite well," Icke said.

DEG is a bank designed specifically for private-sector financing in developing and emerging markets. -- JP/Andi Haswidi



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