"We must seize this chance, because it does not come all the time."Jeju, South Korea (ANTARA News) - At a time when foreign countries are expressing interest in investing in Indonesia, the country must capitalize on the opportunity in order to boost its economy, according to Coordinating Minister for Economic Affairs Hatta Rajasa.
"We must seize this chance, because it does not come all the time," he said on the sidelines of the Korea-Indonesia Jeju Initiative meeting here on Friday.
The last time Indonesia had a similar opportunity, Hatta added, was when Japan made investments in the country during the 1970s.
"If Indonesia fails to reform its complicated bureaucratic system, which hinders the inflow of foreign direct investment, we will lose the momentum again," he pointed out.
"We must use such opportunities and never let them pass us by because of our inability to manage our domestic affairs," Hatta stated.
He said Japan and Korea were currently keen to invest in Indonesia because of the country`s rapid economic development.
"Japan has said this is the third wave of Japanese investment in Indonesia, while Korea is also investing heavily and has already become the fourth largest foreign direct investor," Hatta added.
He expressed hope that the government would be able to successfully tackle the issues that negatively affect the country`s investment climate in its efforts to attract foreign investors.
"We must admit that obstacles still remain, such as labor problems, slow licensing process, and other regional problems and we must overcome them," Hatta said.
(Uu.H-YH/INE/KR-BSR)
Editor: Priyambodo RH
Copyright © ANTARA 2012
