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