RI to use Australia Today as means to attract investors

JAKARTA (JP): Indonesia is planning to use the ongoing Australia Indonesia Today '94 as a spring board for its own bid to attract Australian investors.

In a campaign directed at foreign investors, the investment planning board (BKPM) has singled out Australia as a prime initial target for its promotional efforts to follow up the government's recent deregulation measure, PP20/1994, that eased divestment rules and capitalization requirements and opened many new strategic areas to foreign investors.

BKPM's deputy chief for promotion, Sugihono Kadarisman, told Antara yesterday that Australia is a potential big investor in Indonesia in view of its strong financial resources.

"Soon, on behalf of the Indonesian government, I will address Australian businessmen in a seminar on Deregulation of Investment Procedures in Indonesia in Darwin, Australia," he said, adding that "we want not only capital but also the talents of businessmen with world experience".

He said BKPM will take advantage of the Australia Today Indonesia '94 promotion, of which the seminar is a part, as a way to inform the Australian business community of improvements in the Indonesian investment climate.

"I am confident Australian investment in this country will increase because their government is also urging Australians to move their attention to us."

Australia has invested US$1.5 billion spread over 145 projects across Indonesia, representing 2.1 percent of total foreign investment.

Sugihono said the investment planning board will also direct its promotional move to Eastern European countries to harness their potential in the manufacturing businesses.(17)