US Investors Want to Invest in Indonesia

Translator

Editor

Rabu, 23 Juli 2003 10:47 WIB

TEMPO Interactive, Jakarta:Some 20 members of the US-Indonesian Business Council (UIBN), including investors ExxonMobil Indonesia, Motorola, British Petroleum and New York Life Insurance, met with economic ministers at the Ministry of Finance in Jakarta today(12/2). Minister of Maritime Affairs and Fisheries Rokhmin Dahuri told the press today that the American businessmen were interested investing in Indonesia. According to Dahuri, UIBN is particularly interested in investing in four sectors: energy and power, telecommunications, transportation, and agriculture and fisheries. “The investment would specifically include Motorola’s energy supply on the use of vessel monitoring systems to facilitate monitoring illegal fishing boats,” he said. Dahuri said US investors will start investing this July. As for the agriculture sector, he added, US investors want to export their products to Indonesia. However, they would like the Indonesian government to reduce obstacles to investing in the country. “For instance, reducing taxes, making implementation of regional autonomy more pro-business and eliminating other problems,” Dahuri said. Other problems considered by those investors in their investment in Indonesia, Dahuri said, are lack transparency of Indonesian bureaucracy and regulations and numerous autonomy regulations that seem to be mixed up and overlapped. Despite the cheap price of Indonesian products, these investors also considered high taxes in Indonesia as a problem. Therefore, the investors plan to meet with House of Representatives (DPR) Commission V and IX and discuss this matter. Despite such problems, the US investors said that making a business in Indonesia is much cheaper than in other countries. Hence, Dahuri said, further talks will still be carried out by the investors and Coordinating Minister for the Economy. “Still, all their demands are not entirely true,” he added. Dahuri said that among the projects included in the investors’ interest, the investors have agreed to invest on Paiton electrical project. This project will be continued by using Motorola project that is good in their vessel monitoring system investment. Dahuri is yet to acknowledge exact numbers of the investment as this is only the first meeting that is yet to detail numbers. In the matter of law enforcement and regional autonomy, the government will coordinate with Attorney General and National Police in law enforcement efforts and suggest for improvement of Law number 22 of 1999 on Regional Autonomy through the Minister of Home Affairs.

Related News

Saudi Aramco Maintains $31bn Dividend Despite Lower Q1 Net Income

37 menit lalu

Saudi Aramco Maintains $31bn Dividend Despite Lower Q1 Net Income

Aramco reported a 14% decline in first-quarter net income to $27.3 billion in the three months to March 31.

Read More

Religious Minister Heads to Saudi Arabia to Inspect Service Preparations for Hajj Pilgrims

49 menit lalu

Religious Minister Heads to Saudi Arabia to Inspect Service Preparations for Hajj Pilgrims

The minister will inspect the final service preparations for Hajj pilgrims ahead of their departure to the Holy Land.

Read More

CIMB Niaga Partners with Principal Indonesia to Launch USD-Denominated Sharia-Based Equity Fund

1 jam lalu

CIMB Niaga Partners with Principal Indonesia to Launch USD-Denominated Sharia-Based Equity Fund

CIMB Niaga in partnership with PT Principal Asset Management or Principal Indonesia launched the Principal Islamic ASEAN Equity Syariah Mutual Fund.

Read More

Halmahera's Mount Dukono Erupts Twice, Volcanic Alert at Level II

1 jam lalu

Halmahera's Mount Dukono Erupts Twice, Volcanic Alert at Level II

Mount Dukono is one of three volcanoes on the mainland of Halmahera Island.

Read More

Amazon to Spend Nearly $9bn to Expand Cloud Infra in Singapore

1 jam lalu

Amazon to Spend Nearly $9bn to Expand Cloud Infra in Singapore

Amazon.com (AMZN.O) plans to spend S$12 billion ($8.88 billion) over the next four years to expand its cloud computing infrastructure in Singapore,

Read More

Israeli Military Takes Control of Vital Rafah Crossing from Gaza into Egypt

2 jam lalu

Israeli Military Takes Control of Vital Rafah Crossing from Gaza into Egypt

Israeli tanks and planes pounded several areas and houses in Rafah overnight, killing 20 Palestinians and wounding several others.

Read More

Jokowi: Trade Deficit in IT Device Sector Reaches US$2.1 Billion

2 jam lalu

Jokowi: Trade Deficit in IT Device Sector Reaches US$2.1 Billion

Jokowi laments that imported goods still dominate the domestic market for technological and communication devices.

Read More

The Wrong Energy Transition Approach

3 jam lalu

The Wrong Energy Transition Approach

The Ombilin PLTU in Sumatra, which is a threat to the environment and human health, is being addressed using a bogus energy transition solution.

Read More

Jokowi Denies Involvement in Formation of Prabowo Subianto's Ministerial Cabinet

4 jam lalu

Jokowi Denies Involvement in Formation of Prabowo Subianto's Ministerial Cabinet

President Jokowi denies rumors of him providing suggestions to President-elect Prabowo Subianto regarding the formation of the ministerial cabinet.

Read More

Top 5 Most Relaxed Countries in the World; Indonesia Takes First Place

4 jam lalu

Top 5 Most Relaxed Countries in the World; Indonesia Takes First Place

London-based travel-tech company conducted a study on the most relaxed countries in the world, and Indonesia emerged as the top contender.

Read More