British firms upbeat about Indonesian economy

British firms upbeat about Indonesian economy

JAKARTA (JP): British business executives expressed confidence
in the Indonesian economy after meetings with their local
counterparts and top government officials on Wednesday.

Members of a visiting British business delegation were
impressed by the government's economic recovery plan, said
cochairman of the Indonesia British Business Council Alan Jones.

"There is a new attitude (from the government) toward the
banking and financial control, and all of that is very positive
to us," Jones, who led the 15-strong delegation, said on the
sidelines of the meeting.

The delegation includes representatives from engineering
company AMEC, water supplier Thames Water, Rolls Royce, oil and
gas company BP Amoco and financial institutions HSBC Holding and
Schroders. All of the above firms are public limited companies
(PLC), or publicly listed.

Indonesian companies taking part include retailers Matahari
Group and HERO Group, state Bank Negara Indonesia and
petrochemical company PT Chandra Asri.

Group chief executive of HSBC Holding Keith Whitson said
Indonesia still offered fundamental strengths. "If one looks at
the overall makeup, one has to be confident," he said.

The three-day visit, the first foreign business delegation to
the country since the election of President Abdurrahman Wahid in
October, came at the invitation of Minister of Foreign Affairs
Alwi Shihab.

Alwi and State Minister of Investment and State Enterprises
Development Laksamana Sukardi attended the opening of the
meeting.

In his opening speech, Laksamana promised to simplify
investment procedures by empowering Indonesian embassies abroad
to authorize initial investment steps.

The government is also determined to strengthen the legal
framework for foreign investors, he said.

British Ambassador Robin Christopher said the meetings with
the delegation were an opportunity for Indonesia to send a
positive message to foreign investors.

British companies have invested an accumulative total of $38
billion since Indonesia opened its doors to foreign direct
investment in 1967, according to the embassy.

Christopher said he was pleased that Britain was invited to
send the first business delegation to Indonesia and that the
delegation's response was encouraging.

Chairman of the British Committee at the Indonesian Chamber of
Commerce and Industry, Suryo B. Sulisto, said the delegation
showed the strong commitment of the British business community.
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