Xinhua/Indonesia urges investors to develop infrastructure
JAKARTA, (Xinhua) -- Indonesian Vice President Boediono has called on foreign and domestic investors to fund the construction of infrastructure in Indonesia, helping to cover 70 percent of the project costs budgeted, local media reported here on Tuesday.
Boediono said the government could only cover 30 percent of its national infrastructure construction.
"The only way is with supporting investment to fill the gap," he said in his remarks to address the opening of the 2011 Indonesia International Infrastructure Conference and Exhibition held here.
He added that the government would improve the investment climate, including by easing regulations that could hamper infrastructure development.
"We will erase those [regulations] that overlap," Boediono was quoted by the tempointeraktif.com as saying.
Speaking in the same occasion, Coordinating Minister for the Economy Hatta Rajasa said the government had revised a number of laws and regulations that hindered infrastructure development.
In addition, the government was currently revising a law on land acquisition, he said.
"We hope [the law] will be passed this year," he said, adding the government had steadily increased its budget for construction, from 88.6 trillion rupiah (about 10.2 billion U.S. dollars) in 2009 to more than 100 trillion rupiah this year.
By 2014, the budget is expected to hit around 500 trillion rupiah.