Indonesia wants foreign investment success stories
Indonesia wants foreign investment success stories
Fiona Ortiz, Reuters, Santiago
Indonesia's new government wooed Japanese and U.S. foreign investment during an Asia-Pacific leaders' summit this week, hoping companies' positive experiences will help overcome the country's reputation for corruption and violence.
In their first ever meeting at the Asia-Pacific Economic Cooperation (APEC) summit, U.S. President George W. Bush told Indonesia's new leader, Susilo Bambang Yudhoyono, he would encourage U.S. companies to invest in Indonesia, the Indonesian foreign minister said on Sunday.
"Efforts to create a more conducive environment for investing is a priority," Foreign Minister Hassan Wirayuda told Reuters in an interview on the sidelines of the APEC summit in Santiago.
Independent groups consistently rate Indonesia one of the world's most corrupt nations and investors have also been scared off by a wave of bombings over the past few years, including a 2002 nightclub attack on the island of Bali that killed 202 people.
Indonesian ministers met with the American Chamber of Commerce business group during the APEC summit and stressed they want to create confidence by persuading companies that have left Indonesia to return, Hassan said.
Also during APEC, Indonesia and Japan agreed to work jointly to increase Japan's private investment in Indonesia.
Hassan, who was also foreign minister under Indonesia's last government, said Susilo wants to rapidly resolve investment disputes left over from the previous government.
He predicted a quick resolution to cases such as Mexican cement giant Cemex's longstanding dispute with Jakarta, and an environmental case involving the world's largest gold miner, Denver-based Newmont Mining Corp.
"We are trying to sort this out in order to give confidence, not only for those who have been dealing with us but if we are able to settle these we will give confidence to new investments," he said.
Susilo, who took office last month after Indonesia held free elections and moved fully to democracy, will also combat terror by promoting dialogue between moderates of different faiths, the minister said.
While APEC leaders in Santiago pledged anti-terror measures including statements on nuclear non-proliferation and controls on shoulder-launched missiles, Hassan said hearts and minds must also be won over.
"There's a growing realization in APEC on the need to work on this. In addition to weapons and the technical side of cooperation we underlined the importance of promoting dialogue among religions," he said.
Indonesia and Australia will hold an interfaith summit in Indonesia in January to promote dialogue between moderate leaders from many faiths including Islam, Christianity, Judaism, Buddhism, Hinduism and others, he said.
He said ending terror depended on empowering democratic groups and moderate religious groups.
"We have proven that not only we are a country of moderate Islam but the world's third-largest democracy. We have proven that Islam and democracy can go hand in hand."