RI to use Australia Today as means to attract investors

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)