Indonesia luring U.S. investors to return<\/p>\n
By Imanuddin<\/p>\n
WASHINGTON (JP): Minister of Trade and Industry Rahardi
\nRamelan has invited American businesspeople to return to
\nIndonesia and put in more investment.<\/p>\n
\"I invite all of you to come to Indonesia, find out and
\nunderstand the real conditions and invest there,\" Rahardi,
\nleading an Indonesian trade delegation, told a business forum
\nhere on Tuesday.<\/p>\n
The minister acknowledged that the Indonesian economic crisis
\nand reports of unrest and political uncertainties had discouraged
\ninvestors from doing business in Indonesia.<\/p>\n
\"Many leading U.S. industrialists went and invested, but, sad
\nto say, today most are divesting and waiting to see what
\nconditions are like after the upcoming general election, slated
\nfor June 7,\" he said.<\/p>\n
But he believed that the causes of unrest could be addressed
\nand confidence would then return to the country.<\/p>\n
Speaking of various outbreaks of unrest in several parts of
\nIndonesia that had become the source of investor fears, Rahardi
\nsaid they could not be described as typically Indonesian.<\/p>\n
\"The unrest did not represent the real situation in
\nIndonesia,\" he said, while noting that the recent riot in
\ndowntown Chicago did not represent the whole American community
\neither.<\/p>\n
The trade delegation, which includes 23 leading Indonesian
\nmanufacturers and exporters, called on U.S. trade representative
\nCharlene Barshefsky and other U.S. officials. They also met the
\nASEAN-U.S. Business Forum in Washington during the visit.<\/p>\n
In his speech Rahardi also acknowledged that the monetary
\ncrisis jolting Indonesia since July 1997 has seriously affected
\nthe industrial, business and trading sectors as well the
\nIndonesian people.<\/p>\n
\"Several promising sectors such as automotives and electronics
\nhave only been utilizing less than 15 percent of their industrial
\ncapacity due to the sharp fall in the domestic market and
\nproblems in raw material procurement,\" the minister said.<\/p>\n
\"Almost nobody bought cars last year due to declining
\npurchasing power,\" he added.<\/p>\n
He said the economic crisis has also substantially affected
\nthe people's standard of living. \"There are a lot of children who
\nare unable to go to school because of decreasing parental
\nincome,\" he said.<\/p>\n
Rahardi, however, guaranteed that there would be no
\nsignificant changes in economic policies in the future,
\nespecially with a new government arising from the upcoming
\ngeneral election.<\/p>\n
\"The economic professionals will still be there, while the
\neconomic players will be the same,\" he said.<\/p>\n
The Indonesian businessmen urged their American counterparts
\nto continue buying Indonesian products to help revive Indonesia's
\nailing economy.<\/p>\n
\"Only with customer support can Indonesian business and the
\neconomy sustain itself and survive the economic crisis,\"
\nManimaren, a director of the Texmaco textile and garment company,
\nsaid.<\/p>\n
He cited the need for the U.S. government to remove trade
\nbarriers such as import restrictions imposed on Indonesian
\ntextile products.<\/p>\n
\"By the time the textile quota is removed, Indonesia will be
\none of the largest textile exporters in the world,\" he said in an
\nIndonesian business forum.<\/p>\n
Anton J. Supit, chairman of the Indonesian Footwear
\nAssociation, said Indonesian products were competitive quality-
\nwise and cheaper than similar products of other countries.<\/p>\n
\"Last year, our company sold shoes which were five to 15
\npercent lower in price than equivalent products of a similar
\nquality offered by China,\" he said, while noting that 35 percent
\nto 40 percent of the popular Nike shoes sold on the world market
\nwere made in Indonesia.<\/p>",
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"sponsor": "Okusi Associates",
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