Indonesia well placed for investment

BALI -- Prospects to invest in Indonesia remain good due to the country's continued economic growth and its capability in managing risks, President Susilo Bambang Yudhoyono said in Bali on Sunday.

Despite the current global financial market turbulence, Indonesia is upbeat on long-term investment boost in the country as the government's package of policy measures, including substantive structural reform, has helped stabilize its domestic market, Yudhoyono said in his keynote speech at the APEC CEO Summit.

"We are confident in the long-term, prospects to invest and grow is enormous as Indonesia will remain a land of opportunity and growth," remarked the president.

He added that Indonesia has become a trillion dollar economy with a large middle-class.

To elaborate his view, the president cited predication of McKinsey which forecast that Indonesia's business opportunity will increase to up to $1.8 trillion in 2030.

According to the president, the 2013 APEC host, as the largest economy in Southeast Asia and one of the emerging market economies of the world, has made steady progress in conducting major bureaucratic reforms and strengthening government institutions.

"We will continue to create a better business and investment environment and address many of the challenges," Yudhoyono pledged.

APEC 2013 is viewed by Indonesia as an ideal opportunity to utilize regional economic cooperation to advance its interest in developing economy, promoting job creation and increasing investment and export.

APEC economies account for 54 percent of global gross domestic product and 44 percent of global trade. Trade in the region has grown nearly seven-fold since 1989, reaching over $11 trillion in 2011.