Without IMF Letter of Intent, Foreign Investment Remain a Pipe Dream
30 October 2003 10:17 WIB
This was stated by the head of the Indonesian Chamber of Commerce and Industry (Kadin), Aburizal Bakrie, when TEMPO met him in the Tempo News Room after the opening ceremony for Kadin’s 2001 group meeting held at the Mulya Hotel, Jakarta, Wednesday (10/4).
According to Aburizal, until there are positive signals from the IMF, it will be very difficult for Indonesia to secure foreign investments. Such “positive signals” from the IMF will be greater than just the amount of funds that are released; the signals will be reflected in the degree of international credibility that will be restored given the recent security uncertainty.
According to the businessman who has already led Kadin for two terms, if the government could create a fast solution for Indonesia’s security and political problems, it would also create a solution for its economic problems. Aburizal also hopes that the government plans to increase its own expenditure in an effort to trigger local investments.