Development on infrastructure projects planned

Development on infrastructure projects planned

JAKARTA (JP): Asian countries will spend some US$2.5 trillion
for the development of infrastructures, including transportation,
energy, railway, telecommunication and electricity, by the year
2000, officials said.

Coordinating Minister for Industry and Trade Hartarto said in
a press conference yesterday that infrastructure development is
of fundamental importance to the continued social and economic
growth in the region.

He said that Asian governments, however, cannot finance all of
the infrastructure developments.

"The funds are limited," he said.

The Indonesian government, therefore, will conduct a five-day
meeting between Asian government officials and world business
leaders to discuss the financing of infrastructure projects.

The conference, entitled "World Infrastructure Forum: Asia
1994," will be held in Jakarta on Oct. 17-21, during which more
than 700 delegates and 300 exhibitors from some 20 countries are
expected to take part.

Hartarto said the forum is designed to accelerate the pace of
infrastructure development throughout Asia by improving
cooperation between the public and private sectors.

Contributions

Minister of Transportation Haryanto Dhanutirto, who attended
yesterday's press conference, said private sector companies are
expected to contribute 44 percent of the total budget of Rp 28.6
trillion ($13.18 billion) in developing transportation projects
in Indonesia during the sixth Five Year Development Plan
(Repelita VI) period, which began in April.

Besides Haryanto, yesterday's meeting was also attended by
Minister of Tourism, Post and Telecommunications Joop Ave,
Minister of Public Works Radinal Moochtar and Secretary General
of the Ministry of Mines and Energy Umar Said as well as the
conference's organizer, Andrew J. Way.

"The private sector's contribution will be the biggest part
because the government will contribute only 16 percent, state-
owned enterprises 12.5 percent and foreign creditors 27 percent,"
Haryanto said.

All of the ministers said that they had agreed to jointly
support the conference.

"This is the first conference of such a huge size.... I'd be
the first to scream and fight back if something happened to
prevent the conference," Joop bluntly said.

Way, the managing director of the Singapore-based Development
Forum Administrations Pte. Ltd., told The Jakarta Post that over
$4 million will be spent to conduct the conference.

He said that President Soeharto of Indonesia, President Fidel
Ramos of the Philippines and Deputy Prime Minister Brian Howe of
Australia, will address the World Infrastructure Forum.

A number of high ranking officials of Asian and other
countries will be speakers at the conference, including Richard
Hu of Singapore, Ngo Xuan Loc of Vietnam, Rizalino S. Navarro of
the Philippines, Ali Abdul Hassan bin Sulaiman of Malaysia,
Sethaporn Cusripituck of Thailand, Mohd Ramli Kushairi of
Malaysia, Hyung Koo- lee of South Korea, Ralph Evans of Australia
and Dianne Ruddo of the United States.

Way said that chief executive officers from 30 multinational
corporations will also be speaking at the forum.

Hartarto also announced the agreement to reestablish a
committee to promote cooperation between the public and the
private sector.

The forum is the first of a series of events which are planned
to take place in South America and Europe before returning to
Asia again in 1996 or 1997. (09)