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Indonesia Urged To Speed Legal Reforms By Foreign Investors

by Lorys Charalambous, for LawAndTax-News.com, Cyprus

24 May 2004

According to a statement issued last week by the office of the Coordinating Minister for the Economy, Dorodjatun Kuntjoro-Jakti, foreign investors have urged the Indonesian government to speed the reform of its legal system.

Following several recent incidents in which overseas businesses argued that they were being treated unfairly by the Indonesian courts, the Minister met with investors from Europe, Japan, and the United States to outline the country's economic prospects following last month's legislative election.

However, according to the statement:

"They warned that without improvement, the climate in Indonesia remains not conducive (for investors)."

The Indonesian government launched a reform initiative for the judiciary following a 2002 UN report, which condemned high levels of corruption in the legal system.

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