Industry's global mart role boosted<\/p>\n
JAKARTA (JP): The government is fully committed to providing
\nsupport for the country's industry to play a larger role in the
\nglobal market, President Soeharto said yesterday.<\/p>\n
\"In this second long-term (25-year) development plan period,
\nwe are determined that our economy and industry begin to carry
\nweight on the global level, with a dependable competitive edge
\nand productivity,\" Soeharto told the opening of the Indonesia
\nSummit 1996, a two-day international economic seminar here.<\/p>\n
He said that in the second 25-year development plan period,
\nwhich started in April 1994, the government will continue to
\nimprove the country's industrial structure, while at the same
\ntime strengthening the agricultural sector.<\/p>\n
The government will also accelerate the development of
\ninfrastructure and human resources to support economic dynamism.<\/p>\n
\"We especially give a high priority to the development of
\ninfrastructures, including facilities for transportation, public
\nworks, telecommunications and energy, which are very important to
\nsustain our industrialization process,\" Soeharto said.<\/p>\n
He noted that the government is also intensifying efforts to
\nmobilize funds through capital markets, banks, venture capital
\nfirms and mutual funds, to finance the country's investment
\nneeds.<\/p>\n
\"For this purpose, we continue to enhance the business climate
\nby improving legislation on capital market institutions, raising
\nthe efficiency of the banking system and financial institutions
\nas well as adopting firm policies on micro levels,\" Soeharto
\nsaid.<\/p>\n
The President also said the government will continue to accord
\na greater role to the private sector in the country's
\ndevelopment, while it serves as an active facilitator.<\/p>\n
The government will also continue to maintain a macro-economic
\nbalance, policy consistency and political stability as these
\nserve as fundamental prerequisites for development
\nsustainability.<\/p>\n
It will also continue with its deregulation and reduction of
\nbureaucracy to improve the country's efficiency and
\ncompetitiveness.<\/p>\n
The President stressed that Indonesia will maintain an open
\nattitude toward everything positive and constructive from the
\noutside world as cooperation with other nations is one of the
\ncountry's development principles.<\/p>\n
\"Obviously, we are not trying to become self-sufficient as a
\nkind of autocracy or an isolationist state. Not only will both
\ndeprive us from benefiting from the progress of mankind but they
\nare also inconsistent with our national objectives,\" he noted.<\/p>\n
Liberalization<\/p>\n
Concurring with Soeharto's view, Coordinating Minister for
\nProduction and Distribution Hartarto said Indonesia will continue
\nto actively pursue multilateral trade and investment
\nliberalization through open regional groupings such as the
\nAssociation of Southeast Asian Nations (ASEAN), the Asia Pacific
\nEconomic Cooperation (APEC) forum and the Asia-Europe Meeting.<\/p>\n
\"The facilitation and liberalization of trade and investment
\nwill reduce trade barriers that have long-obstructed Indonesian
\nefforts to increase exports to some of industrialized countries,\"
\nHartarto noted.<\/p>\n
Hartarto said Indonesia will serve as an efficient production
\nsite for those who want to enter the huge and promising ASEAN,
\nAPEC and also global market.<\/p>\n
\"The fact that Indonesia's total trade with all other ASEAN
\ncountries and most APEC economies has long been in favor of
\nIndonesia should ensure the advantage of using Indonesia as a
\ngateway to enter ASEAN, APEC and the global market,\" he said.
\nSustainable Development: Indonesia's Experience, yesterday shared
\nboth Soeharto's and Hartarto's views on Indonesia's economic
\nperformance.<\/p>\n
\"I have visited over 35 countries, and the yardstick I apply
\nis: what's going on in a country. And the remarkable thing about
\nIndonesia is the commitment of the government and the capacity to
\ndeliver,\" Wolfensohn remarked.<\/p>\n
Sustainability<\/p>\n
He said there are four significant elements to measure
\nsustainability of a country's development, namely human resources
\ndevelopment, infrastructure development, the functioning of
\nfinancial system and management of the environment.<\/p>\n
\"I think in terms of fundamentals of this country, the
\ngovernment has macro-economic plans, it is dealing with human
\ndevelopment, it is dealing with education, it is dealing with
\nthefinancial sector, it is dealing with infrastructure and it is
\never-increasingly dealing with the issues of the environment,\" he
\nadded.<\/p>\n
\"If you are a bank president or a private investor, those are
\nessential elements in the development process and they speak of
\nsustainability,\" he added.<\/p>\n
The Indonesia Summit 1996, conducted jointly by the Indonesian
\ngovernment and the daily International Herald Tribune and
\nattended by some 600 foreign and local executives, aims to
\npromote Indonesia and its products and attract more foreign
\ninvestment.<\/p>\n
In addition to Hartarto and Wolfensohn, other speakers
\nyesterday included State Minister of Investment Sanyoto
\nSastrowardoyo, Chinese Vice Premier Zhu Rongji, Dutch Minister of
\nEconomic Affairs G.J. Wijers, Chairman of Peregrine Investments
\nHoldings Ltd. Philip Tose and Chairman of Ssangyong Business
\nGroup Suk Joon Kim.<\/p>\n
Today, the summit will feature eight cabinet ministers, a
\nnumber of both foreign and local business leaders as well as
\nforeign dignitaries, including Australian Deputy Prime
\nMinister\/Minister of Trade Tim Fisher and Special Advisor to the
\nPrime Minister of Canada on International Trade Roy MacLaren.
\n(rid)<\/p>\n
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