JICA helps RI to promote investment

JICA helps RI to promote investment

The Jakarta Post, Jakarta

The Japan International Cooperation Agency (JICA) said on
Monday that it was committed to providing assistance to the
government of Indonesia on how to attract more foreign
investment.

JICA resident representative Kanda Michio said that the
assistance would include financial and technical support to
promote investment opportunities here.

Speaking in a seminar held jointly by JICA and the Investment
Coordinating Board (BKPM) to launch the agency's latest study on
investment opportunities in the Sumatra region (including
Lampung, Bengkulu, Jambi, Padang, Riau and Batam), Michio said
that JICA had been advising the government of Indonesia in
formulating laws and regulations on investments.

He said that it was crucial for the government to follow
global standards when formulating such laws and regulations to
attract foreign investments.

He explained that investment had a big influence on the
development of the economy.

The government is currently drafting a new law on investment.

BKPM Chairman Theo F. Toemion said that the investment bill
would be handed over to President Megawati Soekarnoputri this
week.

He said that the new bill would give equal treatment to
foreign and domestic investors.

Foreign investors have been avoiding Indonesia for various
reasons, including political and economic problems and legal
uncertainties.

Foreign direct investment approvals declined to US$9.03
million last year from $15.43 million in 2000.