Kadin asks for govt help in facing free trade<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The Indonesian Chamber of Commerce and Industry (Kadin), the
\ncountry's largest business lobby group, urged the government to
\nhelp local firms in dealing with tighter competition resulting
\nfrom the free trade era.<\/p>\n
Kadin chairman Aburizal Bakrie stressed on Thursday that
\nwithout government support, efforts to restore the country's
\nailing economy would become more difficult.<\/p>\n
\"The business sector cannot play an optimum role without the
\nsupport and constructive role of the government,\" Aburizal said
\nduring a speech on the last day of Kadin's three-day congress,
\nwhich was also attended by President Megawati Soekarnoputri.<\/p>\n
He fell short of saying, however, whether the government
\nshould impose protective measures to help local firms in facing
\ncompetition from foreign players in the domestic market.<\/p>\n
The theme of the congress was: \"Restoring the national economy
\nby winning the domestic market.\"<\/p>\n
A number of business leaders had earlier asked the government
\nto protect the domestic market against an influx of foreign
\nproducts and services as many local players were not yet ready to
\ndeal with the free trade era.<\/p>\n
They argued that without government protection, particularly
\namid the current global economic slowdown, many industries would
\ngo bust, thus creating more unemployment.<\/p>\n
Elsewhere, Aburizal said that the basic conditions necessary
\nfor a recovery by local industry were not yet present. He did not
\nelaborate.<\/p>\n
But businessmen had earlier said that the current high
\ninterest rate environment made it difficult for them to obtain
\nbank loans at affordable rates.<\/p>\n
They also said that the government should accelerate the
\nrestructuring of corporate debt to allow banks to resume lending.<\/p>\n
Aburizal also claimed that the government's policy of
\nrevitalizing the real sector had not been consistent and lacked a
\nclear focus.<\/p>\n
Meanwhile, Megawati urged local businesses to start seeking
\nprojects and financing outside those provided by the government.<\/p>\n
She said in her speech that businesses must be aware of the
\nreality that the state budget could not longer serve as the
\nlocomotive of the economy.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/kadin-asks-for-govt-help-in-facing-free-trade-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}