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SBY invites global investment, avoids addressing corruption

President Susilo Bambang Yudhoyono has urged leaders of the world's top companies to invest in Indonesia, but left out any mention of his achievements in fighting corruption, as a rotten law enforcement climate continues to be uncovered back home

Abdul Khalik (The Jakarta Post)
Singapore
Sat, November 14, 2009

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SBY invites global investment, avoids addressing corruption

P

resident Susilo Bambang Yudhoyono has urged leaders of the world's top companies to invest in Indonesia, but left out any mention of his achievements in fighting corruption, as a rotten law enforcement climate continues to be uncovered back home.

Since his first day in office, Yudhoyono has been lauded by the international community for his anticorruption efforts, and his clean government has become his main draw for foreign investment.

During his speech at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Singapore, where more than 800 business leaders gathered to discuss ending the global economic downturn, Yudhoyono said Indonesia had shown the world it could withstand the crisis and, together with China and India, become one of the best-performing economies.

He said despite the country's achievement, his administration would increase spending on infrastructure development and boost agricultural production.

"There are investment opportunities in all these; I invite you to take an active part in this massive but promising and rewarding endeavor," he said.

Indonesia's economic growth reached 6.1 percent in 2008, while in 2009 it is expected to manage 4.3 percent before picking up to between 5 and 5.5 percent in 2010.

Responding to a question from the floor on what he meant by achieving better government, the President said his government would be responsive, accountable and capable, but fell short of explaining his efforts in fighting corruption to achieve clean and accountable government.

With Yudhoyono yet to address the Indonesian public on moves to end a saga pitting the highly regarded Corruption Eradication Commission (KPK) against the graft-riddled police and Attorney General's Office, speculation is growin that his much-touted antigraft drive is faltering.

On the global economy, Yudhoyono said Asia and APEC members were especially important in leading the way for a worldwide recovery, as they were currently registering growth while the more traditional economic powerhouses were in recession.

"The global economy can no longer depend on one engine, such as the United States. We have to create a multi-polar balanced growth," he said.

To address imbalances, he urged positive-growth countries to invest their reserves in infrastructure, education and health to enhance productivity, while calling on those in recession to boost their savings and adopt structural reform to correct unsustainable growth paths.

Yudhoyono also said it was important to keep open flows of trade and investment in Asia, and between Asia and the rest of the world, to allow for more balanced growth.

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