Wed, 20 Apr 2011

TEMPO Interactive, Jakarta:The government is planning to double its investment target. President Susilo Bambang Yudhoyono conveyed his optimism that the US$ 100 billion planned initially until 2014 would be surpassed.

State-owned enterprises said they were ready to invest that much. This means that private or foreign investments have not been taken into account yet.

“We are renewing our target. With god’s blessing, it willbe more than US$ 200 billion,” said the President at a work meeting between the central government, the regional government and entrepreneurs in Bogor Palace yesterday. The meeting discussed Indonesia’s master plan for accelerating and expanding development.

Vice President Boediono said four factors that have hampered Indonesia’s economic development. First, overlapping regulations in every level of government. These cause difficulties in its field execution. The second factor is a weak bureaucracy.

The third one is the prevalent corruption and collusion and the last factor is the holdover of neglected plans and projects.