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JAKARTA - Indonesian President Susilo Bambang Yudhoyono used his first visit to Australia to pitch for companies to invest in the $22.4 billion of toll roads, power utilities and other infrastructure projects being built in his country. Infrastructure development is ``a top priority for my government economic program,'' Yudhoyono told business leaders at a breakfast in Sydney today. ``There are plenty of new investment opportunities that haven't been fully harnessed.''
Yudhoyono, 55, is trying to restore confidence in Indonesia by improving political stability and strengthening the legal system to draw more investment. Overseas investment in Southeast Asia's largest economy slumped to $10.3 billion in 2004, a quarter of the amount in 1995, hurt by terrorism and concern about corruption. ``If you invest your money with us you will grow with us, your investment will be in good hands,'' Yudhoyono said.
Yudhoyono is the first Indonesian leader to visit Australia since 2001. He and Australian Prime Minister John Howard yesterday signed an agreement to combat terrorism and consider a free trade pact between the two countries. ``We are very happy with our investment in Indonesia,'' said Australian and New Zealand Banking Group Ltd.'s Asia Pacific Group Managing Director Elmer Funke Kupper, who attended today's breakfast. The Melbourne-based bank, Australia's third-biggest lender, is looking for opportunities to increase the A$250 million it has invested in Indonesia, he said.
Indonesia is Australia's 10th-biggest trading partner, buying A$4.2 billion worth of Australian goods and services in 2004. Two-way trade between Australia and Indonesia was worth A$8.4 billion last year.
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