Property mogul named Kadin chief<\/p>\n
Fitri Wulandari, The Jakarta Post, Jakarta<\/p>\n
Property magnate Mohammad S. Hidayat was elected late on Friday
\nas the new chairman of the Indonesian Chamber of Commerce and
\nIndustry (Kadin), as the business lobby group struggles to bridge
\na communication gap with the government and resolve problems
\nfaced by the business sector.<\/p>\n
Hidayat won the chairmanship with 64 votes on the last day of
\nKadin's two-day national convention, attended by some 90 Kadin
\nregional offices and 18 business associations.<\/p>\n
Rivals Sharif C. Sutardjo won only 30 votes, while Suryo B.
\nSulisto garnered a mere 14 votes.<\/p>\n
Hidayat, who is also Golkar Party treasurer, succeeds Aburizal
\nBakrie, whose term has come to an end. Aburizal is competing with
\nother politicians to represent Golkar in the presidential
\nelection.<\/p>\n
Hidayat said he would resign from his position at Golkar at
\nthe upcoming party congress in order to commit to his four-year
\nKadin chairmanship.<\/p>\n
Speaking at a press conference, he said Kadin's immediate
\npriority would be to work closely with the government in
\ndetermining economic policies to help revive the business sector.<\/p>\n
He explained that, despite the hard-gained macroeconomic
\nstability, investments in the corporate sector remained slow.<\/p>\n
\"Macroeconomic stability should be a catalyst for a revival in
\nthe micro sector,\" he said.<\/p>\n
Over the past year, the rupiah has stabilized, bank interest
\nrates have fallen to record lows and inflation has been brought
\nunder control. However, these gains have not translated into
\nbrisker investment activities, due to continuing problems such as
\nlack of security, poor implementation of regional autonomy, labor
\ndisputes and the reluctance of the banking sector to resume
\ncorporate lending.<\/p>\n
Hidayat said an increase in investment activities by domestic
\nbusinesses was crucial in accelerating economic growth and
\ncreating more jobs, as the country could not rely on foreign
\ninvestment due to election year uncertainties.<\/p>\n
\"We can actually push domestic investment, because we have the
\nfinancing and human resources,\" he said.<\/p>\n
A number of business leaders said earlier that it was crucial
\nfor the new Kadin executives to consolidate the institution to
\nboost its bargaining power with the government in determining
\neconomic and business policies.<\/p>\n
Meanwhile, Kadin issued a communique on an action plan to
\nrevive the corporate sector, excerpts of which follow:<\/p>\n
- Resumption of banking intermediary role
\n- Place limit on minimum wage increases
\n- Minimize labor disputes
\n- Eliminate red tape
\n- Transfer abandoned forest concessions to qualified companies,
\nparticularly in agriculture, fishery and mining sectors
\n- Restructure forestry-based industries
\n- Establish Batam as VAT-free trade area; apply similar status to
\nother industrial zones
\n- Promote good corporate governance.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/property-mogul-named-kadin-chief-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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