VP : Indonesia secure place for investment

Vice President Boediono said Indonesia was a secure place for investors to do business because of its relatively conducive political situation.

Speaking before a hundred foreign businessmen attending the Indonesia Summit`s Economists Conference here on Thursday, he said the country`s conducive political life was supported by a strong democracy.

"Politics strongly affect investment. Indonesia`s democratic life is strong because sixty percent of its parliamentary seats are filled by pro-government parties."
"This condition is positive for investors," Boediono said.

Therefore, compared to the political situation in some other countries, the situation in Indonesia was more conducive regardless of the dynamics within the government`s coalescing parties, he said.

Despite the fact that the ruling Democrat Party won 61 percent of the the vote in last year`s presidential elections, it just had 37 percent of parliamentary seats.

To ensure sufficient support for the government, the ruling party coalesced with some other political parties. So far, Indonesian government continues to be supported by a solid alliance among a number of parties, Boediono said.

At the moment, the government`s popularity has remained high. This condition brought positive climate for the country`s economic growth.

Lots of investors were doing business in Indonesia because they saw that the country did not only have huge natural resources but also a big market with resistance to global crisis, he said.

Despite the investors` positive assessment of Indonesia, Boediono said, the government would keep developing technology and improving the quality of the country`s human resources.

At the Indonesia Summit`s economist conference, Boediono delivered a keynote speech outlining Indonesia`s policy priorities and vision.

Besides Boediono, several ministers also addressed the senior businessmen and government officials at the conference.

Among the ministers addressing the forum were Finance Minister Sri Mulyani, Trade Minister Mari Elka Pangestu, and Industry Minister MS Hidayat.

Head of the Indonesian Investment Coordinating Board Gita Wirjawan also spoke at the conference attended by at least a hundred senior businessmen and government officials.

The chief executive officers (CEOs) of some big companies, including HSBC Indonesia CEO Rakesh Bhatia, were among the participants.

According to Bhatia, Indonesia was one of the HSBC`s focused groups of emerging markets.

At the conference, the participants got the latest information on world and Indonesian economic outlook and calculated the cost of doing business in Indonesia