Indonesia aims to double GDP in next 10 years, says Yudhoyono

Singapore (Antara News) - Indonesia aims to double its GDP in the next 10 years as it attempts to attract more foreign investment, president Susilo Bambang Yudhoyono said.

Yudhoyono told a business conference here: "I am convinced that with the right policies and lots of hard work -- and perhaps a little luck -- Indonesia's GDP will double in the next 10 years."

Yudhoyono said Indonesian inflation should also trend lower.

"We are confident that inflation will be kept to single-digit, or lower than 8 pct," he was quoted by XFN-Asia as saying.

The president said Indonesia would continue its efforts to attract foreign investment.

"With the success of reforms, Indonesia is going to be an easy, attractive and profitable place for business to grow," he said.

"The idea is having sound economic policies that are conducive to having bigger investments."

Among the industries Indonesia wants to promote is the biofuels industry, Yudhoyono said.

This month, the chairman of Indonesia's National Investment Coordinating Board, Muhammad Lutfi, said the government expected domestic and foreign direct investment in the bio-diesel industry this year to increase to about 1 bln usd from 600 mln usd in 2004-2005. (*)
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