RI's investment climate promising
RI's investment climate promising
JAKARTA (JP): Indonesia's commercial and investment
environment is moving in the right direction, a senior executive
of U.S. firm General Electric has said.
Speaking at a recent hearing with the House Committee of the
United States Congress, R. Michael Gadbaw, vice president of the
International Law and Policy of GE, said the Indonesian economy
is a model of the private sector investment driven economy.
"Indonesia is an excellent example of a country where trade --
not aid -- has helped conquer poverty and raise living
standards," Gadbaw told Congress' house committee on
international relations subcommittee on Asia and the Pacific on
Monday.
The transformation of the Indonesian economy had been marked
by a steady diversification away from oil production and natural
resource extraction to diversified manufacturing capability, he
said.
"The leadership vision is grounded in 25 years of success in
demonstrating the relationship between sound economic policies
and unparalleled economic growth," he said.
Gadbaw, who is also chairman of the U.S.-ASEAN Business
Council's and U.S.-Indonesia Business Committee said his company
and the U.S. business community were optimistic that Indonesia
would continue progressing.
He referred to Indonesia as the "center of ASEAN's future" and
"a leader in shaping the ASEAN vision" in his testimony.
The Association of Southeast Asian Nations (ASEAN) groups
Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand
and Vietnam.
Meanwhile, the president of GE Southeast Asia, Kenneth Brown,
said Indonesia would continue to play a lead role in GE's global
and regional strategy.
"It is a very attractive investment environment for GE," Brown
said.
GE is a worldwide diversified technology, manufacturing and
services company with 12 major businesses.
The company booked US$79.2 billion in revenue and $7l3 billion
in net earnings last year.
The company said it had invested over $300 million in
Indonesia. (das)