Seven top businessmen named as special business envoys

JAKARTA (JP): President B.J. Habibie will appoint seven of the country's top businessmen as special envoys with ambassadorial rank to help promote the Indonesian economy abroad and improve foreign investor confidence.

Chairman of the Indonesian Chambers of Commerce and Industry (Kadin) Aburizal Bakrie told reporters after meeting with the President yesterday that the new envoys would be James Riady, Hashim S. Djojohadikusumo, A.A. Baramuli, Suryo Sulistio, Marimutu Sinivasan, Iman Taufik and Muchrim Hakim.

James Riady, chairman of the country's widely-diversified Lippo Group, will become a special envoy to China, Hong Kong, Taiwan, Australia and New Zealand.

Hashim Djojohadikusumo, son of senior economist Sumitro Djojohadikusumo and chairman of the Tirtamas Group, will be in charge of Europe.

A.A. Baramuli, a businessman and current chairman of the Asian Chambers of Commerce Committee, will be a special envoy to East Asia, including Japan and South Korea.

Marimutu Sinivasan, chairman of the country's giant Texmaco Group, will handle South Asia, including India.

Iman Taufik, Kadin's deputy chairman, will be responsible for member countries of the Association of Southeast Asian Nations (ASEAN).

Suryo Sulistio, also the chamber's deputy chairman, will be in charge of the United States and Muchrim Hakim. also a Kadin executive, will handle the Middle East and Africa.

Aburizal said yesterday that all the ambassadors had good relations with the business communities in the countries to which they would be assigned.

"But the business ambassadors will pay their travel expenses out of their own pockets because the government does not have enough money to finance their missions," Aburizal said.

When asked about the country's mounting private sector debt, Aburizal said that most companies were facing problems meeting debt payments because their value had quadrupled in rupiah terms.

"There is not a single major company that is free from problems relating to their foreign debts," he said.

The government announced on Monday that Indonesian private sector debts due to mature in the current fiscal year totaled US$29.2 billion. But their repayment will be rescheduled to eight years, including three years of grace period. (aly/prb)