Bilateral ties to prove profitable

FIRST of all, allow me to take this opportunity to express my appreciation to the Government and people of Hong Kong for their co-operation in promoting friendly relations between Indonesia and Hong Kong.

On the occasion of our 48th Independence Day, I would like to devote a few words to the progress in Indonesia and the growth of bilateral relations between Indonesia and Hong Kong.

In March this year, the People's Consultative Assembly in its General Session re-elected Mr Suharto as the President of the Republic of Indonesia and elected Try Soetrisno as the vice president, for 1993-1998.

The Indonesian Government has adopted a series of measures to create a more favourable climate for investment. In 1992, Hong Kong invested in 39 projects in Indonesia valued at about US$1 billion, an increase of 6.7 per cent compared with 1991.

Trade and investment realisations have increased considerably over the past few years. For the period January-March 1993, trade volume between Indonesia and Hong Kong reached $1.063 million.

In the industrial sector, Indonesia has developed and produced aircraft and helicopters using high technology. Indonesian Nusantara Aircraft Industry (IPTN) is the only industry having both high technological facilities and capability in the field of aerospace in Southeast Asia.

Indonesia's entry into the satellite era is no doubt a historical event in the development of telecommunications.

In the last few years, the Indonesian Government has continued to promote tourism. Tourism ranks fourth after the gas/oil industry, the textile industry and the plywood industry.

Indonesia expects 3.5 million visitors this year, up from about three million last year.