ASEAN businessmen asked to join forces to build infrastructure
\nfacilities<\/p>\n
JAKARTA (JP): Minister of Tourism, Post and Telecommunications
\nJoop Ave called on businessmen of the Association of Southeast
\nAsian Nations (ASEAN) yesterday to join forces in developing
\ninfrastructure of the region.<\/p>\n
Speaking at the closing of the two-day meeting of the ASEAN
\nBusiness Forum, Joop warned the businessmen not to miss \"the
\nplane\" in benefiting the great potentials of the infrastructure
\nbusiness in the region.<\/p>\n
\"ASEAN countries will spend billions of dollars to develop
\ninfrastructure facilities in the next five years,\" he said. He
\nadded that the region's businessmen should, therefore, be able to
\ncompete with companies from other countries in getting a piece of
\nthe pie.<\/p>\n
He acknowledged that the financing will become the major
\nconstraint for local businessmen in undertaking infrastructure
\nprojects.<\/p>\n
\"I think if the businessmen in the region are willing to work
\ntogether and combine their forces, the financial problem could be
\nsolved,\" he said.<\/p>\n
He hailed the forum's proposal for the establishment of a
\ncommercial development bank to solve the financial problem. He
\nsaid that \"if the organization is serious in preparing the bank,
\nI think international agencies will be able to financially
\nsupport the bank.\"<\/p>\n
Bank<\/p>\n
Aburizal Bakrie, the president of the forum grouping chief
\nbusiness executives in ASEAN, proposed for the establishment of
\nan ASEAN Commercial Development Bank on the first day of the
\nmeeting.<\/p>\n
He said its organization is essential to solve the shortage of
\ninvestment funds in the region.<\/p>\n
The meeting, attended by around 200 businessmen, discussed
\nbusiness opportunities, global trade and infrastructure
\ndevelopment.<\/p>\n
Stuart L. Dean, the president of the Singapore-based GE
\nCapital, told the meeting yesterday that the six ASEAN countries,
\nincluding Brunei, Indonesia, Malaysia, the Philippines, Thailand
\nand Singapore, are projected to spend at least US$200 billion in
\ninfrastructure projects over the next five years.<\/p>\n
According to Munawar Amarullah, a senior expert at the state-
\nowned electricity company PLN, Indonesia needs at least around
\n$24.4 billion over the next five years for the development of the
\nelectricity facilities alone.<\/p>\n
He said that at least $14.3 billion of the planned total
\nspending will be used to finance the construction of power
\ngeneration facilities. There will also be approximately $4
\nbillion for transmission and $6.1 billion for distribution.<\/p>\n
The president of the state-owned PT Telkom Indonesia (Telkom),
\nSetyanto P. Santoso, told the meeting that the country needs
\nbillions of dollars to finance its telephone development projects
\nover the next five years.<\/p>\n
He did not have the estimated costs for the projects but said
\nthat Indonesia would install one million telephone lines a year
\nin the current five-year development plan (Repelita VI) period.<\/p>\n
\"This means that by the end of 1999, the telephone density
\nwill be around 3.9 for each hundred people,\" he said.<\/p>\n
He added that over the next five years, the telephone lines
\nwill increase to eight million from the current three million.
\n(hen)<\/p>",
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