UK promises more investment in RI

Desy Nurhayati ,  The Jakarta Post ,  Jakarta   |  Sat, 03/08/2008 6:18 PM  |  Business

The visit by Prince Andrew, Duke of York, to Indonesia is expected to attract more investment from the United Kingdom in several business sectors, mainly energy and mining, the government says.

In separate talks with President Susilo Bambang Yudhoyono and Vice President Jusuf Kalla on Thursday, the UK special envoy for trade and investment said he was impressed with the economic growth, political stability and democracy Indonesia has achieved during the past 10 years.

Presidential spokesman Dino Patti Djalal told a media conference at the State Palace that the Prince promised to convey "the good news" about Indonesia to the business community in Britain and Europe.

"Prince Andrew said Indonesia should have been included in the current grouping of the biggest emerging markets of BRIC (Brazil, Russia, India and China).

"He promised to take the success story to Britain, Europe and the international community to make them more aware of Indonesia's potential," he said.

"The President greatly appreciates Britain as the second biggest investor in Indonesia last year, with a total investment of US$1.6 billion in 63 projects."

Prince Andrew, who started his visit Monday, made a short visit to West Papua province on Wednesday to observe the Tangguh LNG block operated by British energy giant BP.

After meeting with the Prince, Vice President Kalla said Indonesia would welcome British requests for further business cooperation.

"But we have to be sure that we can get the best prices and gain as much as possible from the business cooperation for the sake of the national interest," Kalla said, as quoted by Antara.

"Investment products, such as natural gas from Tangguh block, should be prioritized to meet our energy demands."

As Tangguh operator, BP holds a 37.16 percent stake in the project. The remaining stakes are owned by CNOOC Ltd., LNG Japan Corporation, MI Berau BV, Nippon Oil Exploration Berau and KG Companies.

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