MEDIA RELEASE
Released By:
Downer
I am pleased to announce the signing of an agreement between the Australian
Government and the World Bank to conduct a major private sector study of the
eastern islands of Indonesia, the country's poorest region.
The study will identify impediments to private sector growth and foreign
investment in the Australia Indonesia Development Area (AIDA). It will examine
the feasibility of establishing in eastern Indonesia an office of the World
Bank's International Finance Corporation. This office would provide technical
assistance to local private firms to develop commercially viable investment
project proposals.
The study supports the central aim of AIDA, which is to improve the enabling
environment for private sector trade and investment. It will also analyse and
advise on the regulatory environment for foreign investment in the AIDA region
of Indonesia.
In laying the foundations for encouraging economic growth in the eastern
islands, the study will also assist to open up investment opportunities for
Australian companies wanting to expand into the region.
This represents a tangible example of the Government's commitment to ensure
the AIDA initiative creates real and practical benefits for the private sector
in both Indonesia and Australia.
The Australian government, through AusAID, is providing $180,000 towards the
cost of the study, which will be completed later this year.
BALI
Media contact: Kirk Coningham (Mr
Downer's Office) 06 277 7500/0411 414 6095 Mark Giffard (AusAID) 06 206 4968
John Milne (DFAT - Bali) 08 111 94144