Call for greater self-reliance

Call for greater self-reliance

We are certain that once a new government is formed in the
wake of the general session of the People's Consultative Assembly
(MPR), foreign funds and investment will come flowing back in.
After all, whatever its weaknesses, Indonesia is still a
profitable destination considering its available manpower, large
domestic market and abundant natural resources.

It must not be forgotten that the main reason foreign
investors left Indonesia in the recent past was because, in the
existing environment of rampant corruption, the profits that they
could reap were inconsequential compared to the extra
expenditures they had to make. This being the case, the economy
can be expected to begin moving again at the beginning of next
year at the latest. Care must be taken, however, in order that
this does not lead to another cycle of (untoward) developments
and another economic breakdown.

We hope the new government will manage the economy in accord
with the people's condition and the nation's needs. The new
government should pursue development by relying primarily on the
nation's own strength and resources, since overreliance on
foreign loans has already proven to lead to a most fragile
national economy. Even our state-owned companies' enterprises, on
which we supposedly must depend to repay our debts, have their
hands full putting their houses in order.

-- Bisnis Indonesia, Jakarta