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