MPR faction plans investment forum

MPR faction plans investment forum

JAKARTA: In a bid to boost investment in the country, the Regional Representative Faction of the People's Consultative Assembly (MPR) in collaboration with the association of local governments in Indonesia is scheduled to hold a regional investment forum in Jakarta from July 2 to July 4.

Faction deputy chairman Bambang Soeroso said the Indonesian International Regional Investment Forum 2003 was aimed at accelerating regional investment in conjunction with global economic competition.

"This forum will act as means to promote the economic potential of regencies and municipalities to both foreign and domestic investors," he told reporters at a press briefing on Thursday.

Bambang said that despite the fact that 2003 had been declared by the government as the year of investment, there was little to indicate that investment had been flowing into the country.

The organizing committee had registered 100 regencies and more than 30 private investors to take part in the forum. International lending institutions such as the Asian Development Bank (ADB) and the Islamic Development Bank had also agreed to participate. -- JP