CEO JP Morgan: Indonesia economic outlook very bright under Yudhoyono
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On 3rd May, 2011 President Yudhoyono received JP Morgan CEO Jamie Dimon to discuss situation of global economy and Indonesia's bright economic future following the the policies placed by the Government.
Both Indonesia and JP Morgan survived the 2008 crisis and minimized it's paralyzing impacts. Despite such achievements, the President said that there is much that needs to be done. Indonesia has a large task of providing more infrastructure and energy supplies nationally. With Indonesia's new master-plan for accelerated economic growth, the President invited JP Morgan to be partners in Indonesia development.
Having been in Indonesia since 1920, JP Morgan conveyed it's commitment to Indonesia's growth and prosperity. "We are not a fair-weather friend Mr President" says CEO Jamie Dimon. In fact JP Morgan had assisted Indonesia in privatization, bond rating support and other financial fields. "Indonesia faces challenges like other countries, but we are eager to expand in Indonesia, including to recruit more Indonesians" he said.
Indonesia is a rich and prosperous country, desirable for greater investment said JP Morgan representatives. Its economic strengths and expansion is timely as it coincides with the US economy which is also recovering and expanding fast. "The path you have laid for the country, the reform process, you have attracted attention globally, Mr President, Please continue. We will follow" JP Morgan CEO said. The market recognized Indonesia's investment credentials and that it was just a matter of time that Indonesia be awarded investment grade by Standard and Poors at bbb minus.
Responding to the observations, President Yudhoyono referred to the recent visit of IMF Chief "Your sentiments were shared by Managing Director of the IMF, Mr Strauss Kahn, when he visited Indonesia earlier this year", the President said, "and we will continue to do our outmost so that Indonesia's economy will continue to flourish and its people benefit" the challenge was to maintain political security, democracy, human rights while ensuring economic growth to reduce poverty, unemployment.
President Yudhoyono also elaborated recent efforts of the Government to encourage investments, including dispatching special envoy Hatta Rajasa to Seoul, Republic of Korea, securing $30 billion in investments, meeting with representatives of Japan, also securing $60 billion, and discussing with Premier Wen Jia Bao on greater investment opportunities.
Cabinet Secretary Dipo Alam said that the desires shown by these investors clearly shows Indonesia's strong political success and economic opportunities for greater growth and prosperity. "these are factual and real recognition by the international community, there is no window dressing, Indonesia is truly a rising economy in Asia, following China, and India".
The cordial and friendly courtesy call also discussed the current situation of the global economy and ongoing challenges specifically energy security and food security. This was the first time Jamie Dimon visited Indonesia. The CEO recently visited Singapore and will move on to Malaysia.
"The path you have laid for the country, the reform process, you have attracted attention globally, Mr President, Please continue. We will follow".
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