$50b needed for infrastructure<\/p>\n
JAKARTA (JP): President Soeharto yesterday called for private
\nsector companies to finance most of the over US$50 billion
\ninvestment needed for the construction of infrastructure
\nfacilities in the country in the coming five years.<\/p>\n
\"We must build cities, roads, harbors and airports that
\nconnect one place to another in our vast archipelago,\" he said at
\nthe opening of the five-day World Infrastructure Forum-Asia 1994.<\/p>\n
He told the meeting, attended by about 700 participants from
\n13 countries, that the role of international financial
\ninstitutions, like the World Bank, the Asian Development Bank
\n(ADB) and the Organization for Economic Cooperation and
\nDevelopment (OECD) is still badly needed to finance
\ninfrastructure development in Indonesia.<\/p>\n
He acknowledged that the government has allocated about 60
\npercent of the financial aid accrued from international financial
\ninstitutions for the development of infrastructure facilities.<\/p>\n
According to the Ministry of Finance, the government's
\nborrowing from foreign donor countries and institutions stood at
\n$59.46 billion as of June.<\/p>\n
Soeharto said that private sector investments will concentrate
\non the development of modern facilities, such as toll roads,
\ncontainer ports, airports, power plants and transmission networks
\nas well as housing infrastructures.<\/p>\n
The government, under its deregulatory measures announced in
\nJune, has allowed foreign investors to get involved in the
\nconstruction and operation of infrastructure facilities,
\nincluding telecommunications, electricity, ports, airports and
\naviation.<\/p>\n
Growth<\/p>\n
The President stressed the importance of infrastructure to
\nensure economic growth, which Indonesia has projected to be
\naround six percent annually in the coming five years.<\/p>\n
\"Our experience shows that without good infrastructure our
\neconomy will have difficulty growing and it will not be easy to
\nhave an equitable distribution,\" he told the forum, which will
\npresent Philippine President Fidel V. Ramos and Australian Deputy
\nPrime Minister Brian Howe, who is also Australian Minister for
\nHousing and Regional Development, as speakers today and tomorrow
\nrespectively.<\/p>\n
Speakers at the forum also include Indonesian Coordinating
\nMinister for Industry and Trade Hartarto, Singapore Minister of
\nFinance Richard Hu, Vietnamese Minister of Construction Ngo Xuan
\nLoc, Indian Minister of State for Industry Krishna Sahi and
\nChinese Vice Minister for State Planning Gui Shiyong.<\/p>\n
Chairman of PA Consulting Group John Foden told the meeting
\nthat some US$2.5 trillion is projected to be spent on Asian
\ninfrastructure projects by the year 2000.<\/p>\n
According to a statement issued by the steering committee, the
\nforum is the vehicle to fulfill ADB's mandate to host an
\ninfrastructure financing symposium.<\/p>\n
At a ministerial meeting of the Asia Pacific Economic
\nCooperation (APEC) forum in Hawaii of the United States last
\nMarch, the ADB was accredited to host a top-level symposium to
\nfind ways of raising the $1 trillion or more required to finance
\ninfrastructure projects in Asia over the next six years.<\/p>\n
Soeharto yesterday also toured stands at the exhibition on
\ninfrastructure and supporting services, carrying the theme
\n\"Creating Opportunity Through Innovation\", which is participated
\nin by 123 domestic and international companies.<\/p>\n
Yesterday's opening ceremony was attended by foreign
\ndiplomats, Jakarta Governor Surjadi Soedirdja and a number of
\nministers, including Hartarto, Minister of Industry Tunky
\nAriwibowo, State Minister for Investment Sanyoto Sastrowardoyo
\nand Minister of Transportation Haryanto Dhanutirto. (rid)<\/p>\n
Investment -- Page 8<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/50b-needed-for-infrastructure-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }