Boediono Urges Investors to Develop Infrastructure

12 April, 2011 | Source: The Jakarta Post

Vice president Boediono has invited foreign and domestic investors to fund the construction of infrastructure in Indonesia to help cover 70 percent of the project costs budgeted.

Boediono said the government could only cover 30 percent of its national infrastructure construction target.

“The only way is with supporting investment to fill the gap,” he said at the opening of the 2011 Indonesia International Infrastructure Conference and Exhibition at Jakarta Convention Center on Tuesday.

He added that the government would improve the investment climate, including by easing regulations that could hamper infrastructure development.

“We will erase those [regulations] that overlap,” Boediono said Tuesday, as reported by tempointeraktif.com.

Coordinating Economic Minister Hatta Rajasa said the government had revised a number of laws and regulations that hindered infrastructure development. In addition, the government was currently revising a law on land acquisition, he said.

“We hope [the law] will be passed this year,” he said, as reported by tempointeraktif.com.

Hatta said the government had steadily increased its budget for construction, from Rp 88.6 trillion (US$10.2 billion) in 2009 to more than Rp 100 trillion this year. By 2014, the budget is expected to amount to around Rp. 500 trillion.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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