Time to speed up investment

Last week's news of upcoming major foreign investments in Indonesia during troubled economic times is like water given to someone dying of thirst in a desert.

Lady Al-Bandari, the wife of Abdul Aziz, from the Saudi Arabian royal family, plans to invest around Rp 2.3 trillion as a strategic partner in the Jakarta Outer Ring Road project.

Two foreign investors, Malaysia TAG Corp. and Sophex from the United States, along with Indonesia's PT Panca Era Prima Sakti plan to build the Kalimiring seaport in Gresik near Surabaya, East Java, at an estimated cost of Rp 2.7 trillion.

In the oil sector, Chevron Texaco Corp. has given its subsidiary, PT Caltex Pacific Indonesia, US$450 million to increase production.

Though not all have been realized, these investments are positive indications for development of the national economy. At a certain level, the government, too, should allocate sufficient funds for improving the infrastructure.

In this context, the request from Transportation Minister Agum Gumelar that flood repairs of the northern coastal highway be given priority should get the support and attention of related departments.

Apart from serving the public, such repairs would have a positive impact on investments and business in general.

-- Bisnis Indonesia, Jakarta