Mon, 07 Jun 2010

Jakarta (ANTARA News) - The Indonesian Chamber of Commerce and Industry (KADIN) intends to attract five billion US dollar in investment from Singapore this year.

"We have targeted the Singaporean investments will grow 10-15 percent from 4.340,96 billion last year," Iwan D. Hanafi, chairman of KADIN`s Singapore committee, said here Monday on the sidelines of a conference themed "International Arbitration in Indonesia : Practice and Procedure/"

According to him, a data released by the Singaporean government stated that in the first quarter of 2010, Singaporean investment in Indonesia reached 678.8 million US dollars.

He said the figure was most likely to grow fast and result in an annual aggregate surpassing last year`s.

Singapore is one of the largest investors in Indonesia.

"Unfortunately, there are technical problems which continue to exist including in practice and procedures in regulations," he said.

To limit the impacts of those problems, KADIN had approached various stakeholders to talk about arbitration from the practice and procedure points of view in international businesses.
"That`s what we have done to increase investments in Indonesia," he said.

Legal issues were very important in ensuring the success of an investment, he said Besides, potential investors also needed to know about Indonesian laws. Singapore would continue to play an important role in ASEAN, he said. (*)