Govt to stage road shows overseas

Govt to stage road shows overseas

JAKARTA (JP): The government will conduct road shows to Japan
and three European countries later this year to rebuild
investors' confidence in Indonesia's investment climate following
major rioting in the city late last month.

State Minister of Investment Sanyoto Sastrowardoyo told
journalists after a coordination meeting of economic ministers
yesterday that he will lead the road shows to Japan and France in
October, and the Netherlands and Britain in November.

Sanyoto said the planned investment promotion has nothing to
do with the recent riots, but is something routine. However, he
noted that he will stand ready to give clarifications when there
are questions about the rioting.

Jakarta was rocked by violent riots last month. Three people
were killed and over 20 were injured. The riots also caused
widespread damage to property, including the burning and stoning
of 22 buildings, official figures said.

The government hoped that the riots would not adversely affect
the country's investment climate, but foreign investors seem to
remain jittery.

Sanyoto noted yesterday that the investment situation has
returned to normal, pointing to investors' increasing interests
in investing in the country.

"Besides, we have not heard any significant complaints from
foreign investors so far," Sanyoto said.

Sanyoto reported earlier that the government approved 634
foreign investment projects worth US$21.8 billion from Jan. 1 to
July 27, 1996, compared with 475 projects worth $28.7 billion in
the same period of 1995.

Approved domestic investments were worth Rp 75.3 trillion ($32
billion) for 546 projects from Jan. 1 to July 27, 1996, compared
with Rp 69.8 trillion for the whole of 1995.

Meanwhile, the investment realization rate has improved to
53.4 percent for foreign investment and 47.9 percent for domestic
investment. (rid)