Adjusting to change in ASEAN

The nine members of ASEAN agreed at the end of last week to liberalize investment policies throughout the region. Various advantages are to be offered by the ASEAN countries to investors in the coming two years, beginning on January 1, 1999.

Considering the strong impact which ASEAN's new liberalized investment policy is certain to have, it would be only proper for the Indonesian government to answer the challenge by invoking a new investment paradigm.

Various steps have indeed already been taken by the Capital Investment Coordinating Board toward that end, but more concrete measures are needed to encourage investors; for example, the easing of complicated licensing procedures.

Even more urgently, political and economic stability must be ensured since both provide the key to success in luring foreign investment.

-- Bisnis Indonesia, Jakarta