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