Rp 138.4t needed for growth<\/p>\n
JAKARTA (JP): The municipality needs Rp 138.4 trillion
\n(US$57.3 billion) in private investment to reach a target of 8.23
\npercent economic growth, Deputy Governor for Administrative
\nAffairs Idroes said yesterday.<\/p>\n
He said the total investment needed to meet the annual target
\nduring the current Five-Year Development Plan (Repelita VI),
\nwhich will end in 1999, was Rp 146.7 trillion. Of this 5.3
\npercent or Rp 8.3 trillion would be drawn from government
\ninvestment.<\/p>\n
At a meeting on the city's investment coordinating board,
\nIdroes said for this purpose the city should increase services
\nfor investors.<\/p>\n
He did not say how much had been invested so far.<\/p>\n
Idroes said several factors which affected investment were
\nland use, location and infrastructure. Others were procedures,
\nlaw, security and services, he said.<\/p>\n
He said he hoped the city could avoid a high cost economy.<\/p>\n
\"This could force investors to leave for other countries,\" he
\nsaid. Competitors include Kuala Lumpur, Bangkok, Manila and Pnom
\nPenh, Idroes said.<\/p>\n
All permits must be clear about basic policies, procedures,
\nthe time needed to secure permits and costs to be paid by
\ninvestors. (anr)<\/p>",
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