Indonesian president urges solution to problems involving land acquisition, bureaucracy

09:13, July 07, 2011      

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Indonesian President Susilo Bambang Yudhoyono on Wednesday urged settlement of obstacles on land acquisition and slow bureaucracy which have hampered investment climate in the country.

President Yushoyono told a cabinet meeting on the evaluation of the government long-term development acceleration program that the bottlenecks could hamper the acceleration of development. "If the problem of land acquisition can not be settled soon, including the rules and the management, it can disturb the expansion and acceleration of our economic development," said Yudhoyono.

"I have received reports about the slow bureaucracy. We can not tolerate it again. That is not that we want. Don't expect the acceleration of economy can succeed, if everything is done as usual," he said. However, the president did not mention corruption on the bottlenecks.

On May 27, 2010, the Indonesian government launched the long- term acceleration of economic development program by up to 2025 so as to create more jobs. Under the program the government needs over 190 trillion rupiah (some 22.36 billion U.S. dollar) funds to finance 27 projects. Most of the funds are expected to be from private sectors.

Indonesian parliament has been discussing the draft of land acquisition law.

President Yudhoyono has targeted an annual economic growth of 6. 6 percent by the reminder of his term to 2014 so as to create millions of jobs.

Indonesia has succeeded in building sound macroeconomic fundamental and political stability which have attracted greater foreign investments.

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