{
    "success": true,
    "data": {
        "id": 1510939,
        "msgid": "foreign-investment-cure-for-doldrums-1447893297",
        "date": "1997-09-24 00:00:00",
        "title": "Foreign investment cure for doldrums",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Foreign investment cure for doldrums After the floating of the Indonesian rupiah last month, it depreciated by more than 15 percent. Now it is time for the government to attract foreign investment, especially in the real estate and property business. As a result of the rupiah's devaluation, the property business has been in the doldrums because industry workers, especially those in apartment sales, require payment in U.S. dollars. But the U.S.",
        "content": "<p>Foreign investment cure for doldrums<\/p>\n<p>After the floating of the Indonesian rupiah last month, it<br>\ndepreciated by more than 15 percent. Now it is time for the<br>\ngovernment to attract foreign investment, especially in the real<br>\nestate and property business.<\/p>\n<p>As a result of the rupiah's devaluation, the property business<br>\nhas been in the doldrums because industry workers, especially<br>\nthose in apartment sales, require payment in U.S. dollars. But<br>\nthe U.S. dollar has become so expensive that most locals are<br>\nlosing interest in investing in or owning apartments.<\/p>\n<p>If the government of Indonesia allows foreigners\/expatriates<br>\nto own property here then it will attract lots of investment.<br>\nThis strategy will not only pull the property business out of the<br>\nred but also arrest further devaluation of the rupiah.<\/p>\n<p>I hope the authorities will understand the content of this<br>\nletter and do what is needed to halt devaluation.<\/p>\n<p>Allowing foreigners\/expatriates to own properties -- like in<br>\nSingapore and Australia -- will bring in lots of U.S. dollars to<br>\nIndonesia and even perhaps strengthen the rupiah to its pre-float<br>\nvalue.<\/p>\n<p>V.N. MURTHY<\/p>\n<p>Jakarta<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/foreign-investment-cure-for-doldrums-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}