REGIONS OFFERS MAJOR INVESTMENT PROJECTS

The Jakarta Post, Jakarta

Domestic and foreign investors will have plenty of tempting opportunities laid out before them this week. On top of large, national-level projects that the central government plans to offer at the upcoming infrastructure conference, the regions are also lining up ventures for investors to put their money into.

More than 16 provinces will put projects worth some US$3.47 billion on the block at the upcoming Indonesian Regional Investment Forum (IRIF) on Nov. 2-3, says the event organizer.

Toni Gourlay of Sound Initiatives said the projects were in such sectors as tourism, infrastructure, agribusiness, power generation, food processing and manufacturing.

Among the participating provinces, Riau's are the most valuable, including a new highway worth $506 million, the $1.41 billion Dumai international airport, the Pasir Pangarayan-Dumai railroad worth $555 million and a $222-million power plant in Rokan Hulu regency.

Meanwhile, Jakarta province is offering a project worth $110 million for the expansion of the Tanah Abang market.

More than 800 foreign and domestic investors, and business leaders will attend the two-day forum, which will be opened by President Susilo Bambang Yudhoyono, Gourlay said.

"We have also specially invited one of the most influential thinkers on business strategy today, CK Prahalad, as the keynote speaker for this event to enlighten local bureaucrats on how to make their regions more investor-friendly," steering committee chairman Irman Gusman said.

"The problem is that these bureaucrats are not businessmen and in this forum we want to help them meet the needs of investors," Irman explained.

The idea for the forum was initiated by the Regional Representatives Council. (JP/09)