By Hendarsyah Tarmizi, The Jakarta Post, Singapore
Although Indonesia has not yet fully recovered economically or politically from its 1998 crisis, the country remains among the best places in the region to do business, former minister Rizal Ramli said.
Rizal is now executive chairman of a new English language business magazine GlobeAsia but was formerly the coordinating minister for the economy under President Abdurrahman Wahid.
The magazine has been available in Indonesia since January but its publishers recently held an official launch in Singapore.
Speaking at the launch, Rizal said the improvement in the country's economic fundamentals during the past five years would see Indonesia well on track to regain its former status as one of the region's economic powers.
He said the democracy in Indonesia had not been able to cope with unemployment problems or to improve welfare for many of those in need, but he insisted the country still offered a great opportunity to investors.
"For investors who can assess risks well, Indonesia is one of the best places to do business in Asia," Rizal said.
He said the past five years had seen Indonesia begin to emerge from a deep socioeconomic crisis and this was indicated by a healthy GDP growth at an average 5 percent a year.
The rise in consumer spending and a growing middle-income class were all contributing to GPD, he said.
Foreign direct investments have also started to pick up.
Rizali said the business community was showing healthy signs of improvement following a series of economic reforms introduced by the government.
Rizal said GlobeAsia monthly magazine would provide investors and the international business community a view of Indonesia's business landscape and environment.
He said the magazine covered stories on "movers and shakers shaping up the post-crisis Indonesia".
The magazine's publisher Tanri Abeng told about 250 businessmen at the magazine's recent launch, held in the Indonesian embassy, that Indonesia's corporate sector was also showing signs of revitalization.
"Since 2005, a growing number of Indonesian companies have funded their expansion by raising capital both domestically and internationally," Tanri said.
"These corporate actions reflect a rising appreciation of Indonesia's potential and the confidence of international investors."
Tanri said GlobeAsia had signed a distribution and subscription agreement with Singapore Press Holdings to increase the magazine's readership.
The magazine's chief editor SK Zainuddin said to further increase the publication's current 100,000 circulation, they would also launch in Kuala Lumpur in November.
Zainuddin said by establishing distribution networks overseas, business communities would have access to important insights into Indonesia's growing economic and corporate activities.
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