Mideastern states join RI investment forum
Mideastern states join RI investment forum
JAKARTA (JP): Businesspeople from eight Middle Eastern
countries and three Asian ones are currently in town attending a
government-sponsored investment forum.
Jack S. Gaffar, the director for investment and financial
cooperation at the foreign affairs ministry, said the government
had invited the businessmen to join the forum as part of its
effort to bring back foreign investment to the country.
"Indonesia badly needs foreign investment to help smooth the
process of economic recovery," he said on the sidelines of the
preliminary meeting on Tuesday.
The three-day meeting, which started on Tuesday, is being
attended by businesspeople from Saudi Arabia, Bahrain, Iran,
Quwait, Oman, Qatar, Brunei Darussalam, Singapore and Malaysia.
Jack said Indonesia had been facing difficulties persuading
foreign investors to return to the country due to various
factors, including legal uncertainty and the political situation,
which had created an unconducive business and investment
environment.
The Middle Eastern and Asian countries have pledged their
political commitment to help Indonesia in coping with its
economic crisis, despite the fact that Indonesia has been relying
more on western countries for both investment and development
aid, he said.
He said the meeting was mainly aimed at informing the foreign
businesspeople about the business opportunities available in the
country.
"We are not begging for foreign aid here; rather we are
selling profitable commercial projects," he said.
Jack said the meeting would provide the foreign business
delegations with a close look at no less than 40 projects from
various sectors, including banking, telecommunications, mining,
tourism and transportation.
He said many of the projects on offer were managed by local
private enterprises, while others were government-owned. The
Indonesian Bank Restructuring Agency (IBRA) is also offering some
of the companies currently under its supervision.
"There are 15 projects with the most potential, including the
Bukit Asam coal project and a new fertilizer factory owned by
Petrokimia Gresik," Jack said.
He said senior officers from related ministries would provide
insightful views on the prospect of making investments in each of
the sectors.
President Abdurrahman Wahid is scheduled to give an address at
the close of the meeting on Thursday. Economic ministers from the
11 countries are also expected to attend the meeting. (cst)