Mideastern states join RI investment forum<\/p>\n
JAKARTA (JP): Businesspeople from eight Middle Eastern
\ncountries and three Asian ones are currently in town attending a
\ngovernment-sponsored investment forum.<\/p>\n
Jack S. Gaffar, the director for investment and financial
\ncooperation at the foreign affairs ministry, said the government
\nhad invited the businessmen to join the forum as part of its
\neffort to bring back foreign investment to the country.<\/p>\n
\"Indonesia badly needs foreign investment to help smooth the
\nprocess of economic recovery,\" he said on the sidelines of the
\npreliminary meeting on Tuesday.<\/p>\n
The three-day meeting, which started on Tuesday, is being
\nattended by businesspeople from Saudi Arabia, Bahrain, Iran,
\nQuwait, Oman, Qatar, Brunei Darussalam, Singapore and Malaysia.<\/p>\n
Jack said Indonesia had been facing difficulties persuading
\nforeign investors to return to the country due to various
\nfactors, including legal uncertainty and the political situation,
\nwhich had created an unconducive business and investment
\nenvironment.<\/p>\n
The Middle Eastern and Asian countries have pledged their
\npolitical commitment to help Indonesia in coping with its
\neconomic crisis, despite the fact that Indonesia has been relying
\nmore on western countries for both investment and development
\naid, he said.<\/p>\n
He said the meeting was mainly aimed at informing the foreign
\nbusinesspeople about the business opportunities available in the
\ncountry.<\/p>\n
\"We are not begging for foreign aid here; rather we are
\nselling profitable commercial projects,\" he said.<\/p>\n
Jack said the meeting would provide the foreign business
\ndelegations with a close look at no less than 40 projects from
\nvarious sectors, including banking, telecommunications, mining,
\ntourism and transportation.<\/p>\n
He said many of the projects on offer were managed by local
\nprivate enterprises, while others were government-owned. The
\nIndonesian Bank Restructuring Agency (IBRA) is also offering some
\nof the companies currently under its supervision.<\/p>\n
\"There are 15 projects with the most potential, including the
\nBukit Asam coal project and a new fertilizer factory owned by
\nPetrokimia Gresik,\" Jack said.<\/p>\n
He said senior officers from related ministries would provide
\ninsightful views on the prospect of making investments in each of
\nthe sectors.<\/p>\n
President Abdurrahman Wahid is scheduled to give an address at
\nthe close of the meeting on Thursday. Economic ministers from the
\n11 countries are also expected to attend the meeting. (cst)<\/p>",
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"sponsor": "Okusi Associates",
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