Wed, 26 Jan 2011

New Delhi (ANTARA News) - Indonesia on Tuesday offered Indian companies nine areas of investment expected to benefit both countries.

Visiting Indonesian President Susilo Bambang Yudhoyono made the offer at a business forum attended by some 500 Indian businessmen grouped in the Associated Chambers of Commerce and Industry of India (Assocham), Confederation of Indian Industry (CII), and Federation of Indian Chambers on Commerce and Industry (FICCI).

"There are many areas of cooperation but I will stress particularly the nine sectors," he said.

The first two areas of investment concerned infrastructure and transportation covering development of power plants, ports, roads, and airports, he said.

To that end, he pledged to revitalize the investment climate to lure as many private investors as possible by among others simplifying bureaucracy and easing regulations.

In addition, he said the Indonesian government was also providing guarantee for funding scheme and regulations on the use of land for development of infrastructure projects.

The third area of investment dealt with information and communication technology in which both nations could exchange experience in developing communications in most populous nations, he said.

"Now that India`s strength rests with this field, I see a great potential to cooperate in this field," he said.

The fourth area of investment was food industry including research and technology to develop the sector, he said.

The fifth area of investment was the energy sector including development of renewable energy to meet rising energy demand in both countries, he said.

In this respect, the President pledged government incentives for companies interested in developing the country`s geothermal energy and other clean energy.

The sixth area of investment was mining industry followed by development of the manufacturing sector as the seventh area of investment, he said.

He said the eighth area of investment was creative industry which according to him would create a wide opportunity for the two peoples to exchange a wide range of cultural heritage.

The ninth area of investment meanwhile dealt with training, education and innovation, he said.

He expressed hope both countries would further enhance economic and trade relations in the future.

Two-way trade between Indonesia and India rose to US$12 billion in 2010 from US$4 billion in 2005. In the next five years the figure was expected to double to US$25 billion, he said.(*)