Indonesia needs to stop subsidizing the sale of oil-based fuels and gas on the domestic market in order to make it more attractive to investors, the government has been told. The president of the International Energy Agency (IEA), Leonard L. Coburn, who is here on a visit, said Tuesday that the government's current subsidy system discouraged new investors from entering the downstream oil and gas industry as the subsidies created market distortions.

Jakarta (ANTARA News) - European Union (EU) Ambassador to Indonesia Jean Breteche said the Negative Investment List (DNI) now being prepared by the government would disadvatage Indonesia because it restricted the entry of foreign investment. "If over protected, Indonesia will become a closed state. You will never get the benefit of foreign investment and technologies," he said on the sidelines of a seminar on Public-Private Partnership here on Tuesday.

Jakarta (ANTARA News) - Billions of dollars of Australian investment to Indonesia hinges on new legislation being passed through Indonesia's parliament, Australia's trade minister said during a visit here Tuesday. Trade Minister Warren Truss said that about 2.5 billion Australian dollars was currently invested in Indonesia by Australian companies.