Hamzah tells political elite to fully back recovery plans
Hamzah tells political elite to fully back recovery plans
Annastashya Emmanuelle, The Jakarta Post, Nusa Dua, Bali
Vice President Hamzah Haz called on the members of the country's
political elite on Wednesday to help create a conducive
atmosphere to encourage foreign investors to put their money back
into Indonesia, arguing that economic recovery programs needed to
be backed up by supportive political conditions.
"I would urge the country's political elite to focus on
restoring our economy," Hamzah said on the sidelines of the Asia-
Pacific Economic Cooperation (APEC) Construction 2002 conference
in Nusa Dua, Bali, on Wednesday.
Indonesia's economy has been in the doldrums since the
financial crisis struck in 1997, and efforts to revive it have
been eclipsed by political squabbling among the elite.
According to the latest survey conducted by the Hong Kong-
based Political and Economic Risk Consultancy (PERC), Indonesia
came in second after India as the most unattractive country to
investors.
According to data from the Investment Coordinating Board
(BKPM), foreign direct investment approvals fell by 41.5 percent
from US$15.42 billion in 2000 to $9.02 billion in 2001.
The Vice President admitted that Indonesia had provided an
unfriendly environment for investors over the past several years,
and stressed that all efforts to revive the country's economy
would be in vain if they were not supported by conducive
political and security conditions.
"If the political elite are slow in responding to the needs of
investors, our economic situation will continue to worsen," he
said.
In his opening address to the International Conference on
Advancement in Design Construction, Construction Management, and
Maintenance of Building Structures -- APEC Construction 2002,
Hamzah said that Indonesia was in the process of creating a more
stable, democratic country that upheld the supremacy of the law
and human rights.
He also called on members of the Asia Pacific Economic
Cooperation (APEC) forum to adopt common strategies in the
upcoming free trade era as all countries would be afforded equal
opportunities to market their products.
In the spirit of togetherness among members, industrialized
countries should refrain from focusing on their interests alone
by depriving other countries of opportunities to market their
products, he said.
"It is no longer the time for industrialized countries to
continue to enrich themselves while developing countries are left
lagging far behind," he said.
"I truly hope that members of the APEC forum can assist one
another in the spirit of solidarity in facing AFTA 2003 and the
free trade era," Hamzah told the 243 conference participants from
18 APEC member countries.
The conference -- attended by construction experts and
companies -- is aimed at establishing international construction
standards among APEC countries, while the participants are also
expected to exchange experience and expertise.