RI moves on economy backed

RI moves on economy backed

The new administration in Indonesia was praised on Tuesday for moving towards a more open economy and planning to establish a framework for better integration on the regional and international level.

"Such plans are greatly welcomed by the investment community as they spell a wealth of opportunities," Tony Chew, chairman of Network Indonesia, said in Singapore at the first anniversary of the platform aimed at facilitating greater collaboration between Singapore and its giant neighbor.

Chew noted Indonesian President Susilo Bambang Yudhoyono has identified improving the country's investment climate as one of his top priorities.

He said the presence of Minister of Trade Mari Elka Pangestu at Tuesday's function was "proof of the proactive stance taken by the Indonesian government in improving the investment climate of the country."

Confident Indonesia will see stronger economic growth than the 4.8 percent expected this year in 2005, Chew said, "A stronger Indonesian economy will mean greater business partnership possibilities between both Singapore and Indonesian companies."

"Business propositions in other promising markets in Asia may be jointly forged as well," he predicted.

Network Indonesia "can play a pivotal role to facilitate greater private sector business collaborations and contribute towards the growth of investment and trade deals," Chew added.

To date, it has organized 30 events comprising business missions to Indonesia, seminars and networking sessions with businessmen and government officials.

To commemorate the anniversary, the Network Indonesia Business Directory was launched "to provide a business tool through which Singaporean and Indonesian companies can access the right connections and channels," Chew said. -- DPA