Seven top businessmen named as special business envoys

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)