The President Post 23rd

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Display until May 12, 2011 /// N0. 23

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President SBY with the participants of The 15th ASEAN Finance Ministers Meeting in BICC, Nusa Dua, Bali. The event was also attended by Secretary-General of ASEAN Surin Pitsuwan, President of Asian Development Bank (ADB) Haruhiko Kuroda, World Bank Managing Director Sri Mulyani, and Managing Director of the International Monetary Fund (IMF). See Page Two (Opinion).

RI,US Partners in Reducing Unemployment US companies set sights on infrastructure projects JAKARTA (TPP) – The United States believes that Indonesia is the right partner in reducing unemployment in both countries due to impressive economic growth rate, an official from the US Department of Commerce International Trade Administration said here last week.

“The economic opportunities in Indonesia are very strong because your country has a growth rate which is impressive and also the people who are eager to learn and work hard,” Francisco J. Sanchez, the Under Secretary of Commerce for International Trade, said here after opening the education exhibition in Jakarta, Antara reported. “No country in this world can be successful economically with-

out investing in education. And I am very optimistic because the commitment to education makes your country keep growing with the economy,” he said. He mentioned that the type of education appropriate to be applied was on entrepreneurship because by creating business, it would reduce unemployment. “I also believe that encouraging people to learn about entrepreneurship can create an envi-

ronment that attracts business. Learning from my country`s experience, we actively persuade investment from abroad because foreign investors can create million of jobs in the US,” he said. Furthermore, he also said that foreign investors in the US were responsible for 20 percent of exports and this might be important for Indonesia to create jobs. “I would support Indonesia to continue on this path of making

President to Sign Decree on Sunda Strait Bridge Project A presidential decree on the Sunda Strait bridge project is expected to be issued in April, Coordinating Minister for Economic Affairs Hatta Rajasa said. “It is hoped the decree will be finalized in April,” he said at the presidential office here last week after accompanying President Susilo Bambang Yudhoyono in a meeting with board members of the Indonesian Chamber of Commerce and Industry (Kadin). He said the draft decree had long been discussed and passed the stages of discussion. “If the draft is finished we will then harmonize it with the ministry of justice and then it will be

referred to the President. Unless corrections are needed the draft will be considered final,” he said. Public Works Minister Djoko Kirmanto said that ministers had been asked to discuss the draft for a week. “The instruction just now is that it must be done quickly. The Presidential decree among others regulates the executing authorities and methods for appointing the management later or investors,” he said. The construction of the bridge is scheduled to be started in 2014 and finished in less than 10 years.

“If the draft is finished we will then harmonize it with the ministry of justice and then it will be referred to the President. Unless corrections are needed the draft will be considered final.” Hatta Rajasa Coordinating Minister for Economic Affairs

“The instruction just now is that it must be done quickly. The Presidential decree among others regulates the executing authorities and methods for appointing the management later or investors.” Djoko Kirmanto Public Works Minister

OPINION

INTERVIEW

BUSINESS

INFRASTRUCTURE

No Time to Be Complacent

Mien Uno: Education and Social Manners

Telkom Sets Aside Rp 2 t for Buyback

Policy Certainty Needed to Boost Toll Road Investment

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The global economy is recovering, but the path to full recovery remains fraught with risks and vulnerability. One important lesson from that global financial crisis was that countries needed to act fast, and to act together. PAGE A2

Widely recognized as a master of etiquette and personal grooming, Mien Rachman Uno is also a successful businesswoman and a passionate educator.

PT Telkom currently holds 65 percent shares in the cellphone operator PT Telkomsel while the rest is held by SingTel.

Apart from the need to be fairer in awarding contract, the government needs to have a well-planned investment road map in order to provide investors with a clearer picture of business prospects therein.

the country an attractive place to do business,” he added. “The decline rate of unemployment in the US, which was reported at 8.8 percent in March, generated good economic system for the country as well as Indonesia, which sold a lot of products from the US.” United States firms are eying investments in Indonesian infrastructure such as railways and airports but are concerned about graft and a lack of protection of intellectual property rights, said the US official on a different occasion. “American companies are interested in supporting Indonesian transportation infrastructure needs, particularly in the railway

system,” Sanchez said in an interview with Reuters. The government plans this week to offer investors $32 billion worth of infrastructure projects, including a railway, toll road and power plant. Inadequate infrastructure is seen as both an investment opportunity and an obstacle to growth. Fitch Ratings last month cited the issue as a key risk to the chances of the country winning an investment grade rating in the next 12-18 months. Other sectors US investors are interested in are health care, agriculture and green energy, said Sanchez.

Foreign direct investment has picked up in Indonesia in the past year, but there has been far more investment from Asia than from US or European firms, with Japan having pledged more than $50 billion in infrastructure investment. Sanchez said further reforms on transparency were needed to attract more investment. “Corruption, protection of intellectual property rights and overall transparency, all of these will have more long-term impact and positive impact on the Indonesian economy,” he said, adding businesses also wanted an opportunity to have a say on proposed regulations and laws.


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