The Indonesian Regional Investment Forum (IRIF) will offer some 200 projects worth US$19 billion to foreign investors in the oil and gas, mining, agribusiness, infrastructure and tourism sectors, a spokesman said. "The amount and value of the projects will be higher than the previous IRIF in 2006 which only offered 60 projects," CEO of Global Initiatives Tony Gourlay said here Wednesday. In 2008, Global Initiatives was cooperating with the Regional Representatives Council (DPD) and some state-run companies to conduct the forum scheduled to be held from May 26 through 27. President Susilo Bambang Yudhoyono was scheduled to open the forum. Tony said the forum would offer investment potentials in 35 districts to some 300 investors from 20 countries among others from Malaysia, Singapore, Japan, South Korea, China, India, the Middle East, the United States and some European countries. "It is time for local governments to play wider roles in attracting investors. Before offering investment cooperation, it would need local government's preparedness in business as well as legal aspects," he added. The largest project offered in the forum is the construction of oil refinery in Banten Province worth US$4 billion while the smallest project is development of cattle farm in Central Sulawesi Province worth US$81,000. "But the most important thing is that the projects could open job opportunities and improve people's welfare," he said. Most of the projects offered in the forum are in infrastructure sector among others construction of Penajam bridge in Balikpapan, Batam-Bintan bridge, agribusiness terminal in Balaraja, Karian dam, Cilegon-Bojonegoro toll road, Bojonegoro international port, Kaliwungu port in Kendal, Maloy port and Sangkimah airport in East Kutai, and international container port in Kutai Kartanegara, East Kalimantan. Other projects are geothermal power plant in Cisukarame, Cisolok and Tampomas, West Java, Lati Berau steam-generated power plant in Berau district of East Kalimantan and in Bau-bau district of Southeast Sulawesi. More than 1,000 investors would attend the forum, including former Thai prime minister and founder of Shin Corp, Thaksin Shinawatra, President Commissioner of Sima Darby, Tun Musa Hitam, and CEO Khazanah Nasional Dato, Azman bin Mokhtar. They would also shared their tips to get success to other participants including local government leaders and executives of national companies.
IRI meeting
Two economists would share the strategy to invest, namely Kenneth S Courtis, former vice president of Goldman Sachs and Chief Economist & Strategist, Managing Director Deutsche Bank, and Kenichi Ohmae, founder and managing director of Ohmae and Associates. Deputy Chief of DPD, Irman Gusman said, IRIF is expected to inspire Indonesian businessmen to expand their business thus it could support the country's economic growth. "This is in line with the aim of DPD, to increase economic growth through empowerment of regional projects," he said. While former minister of state enterprises, Tanri Abeng said, local governments should take the benefit from IRIF 2008 to increase its economic growth. "Investors, especially foreign investors, are keen to directly invest in regions. But local government must have clear information on its potential and cut short bureaucracy," Tanri said.
With HE Thaksin Sinawatra, former Prime Minister of Thailand
Source : Antara - 22 May 2008
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