MPE3I To Regulate Economic Development: Hatta Rajasa

Lebak, Banten, Sept 12 (Antara) - The Masterplan for Acceleration and Expansion of Indonesia`s Economic Development (MP3EI) is aimed at regulating economic development across Indonesia, a minister has said. "With the extraordinary MP3EI program, disadvantaged regions will be a thing of the past in Indonesia by 2025," Coordinating Minister for Economy Hatta Rajasa stated here on Thursday. Speaking at the dedication and ground-breaking ceremony of the PT Cemendo Gemilang`s Merah Putih cement plant project, the minister explained that the MP3EI was extraordinary because of the involvement of both private and state-owned companies. He noted that the government was no longer financing the development of Indonesia`s infrastructure, which is necessary to improve the nation`s economy. Rajasa said there were 146 MP3EI projects under development, including toll roads, bridges, airports, and seaports, which are being completed with a total investment of some Rp300 trillion. He pointed out that 35.08 percent of the funds for these projects was provided by private parties, 26.08 percent by state-owned companies (BUMN), and 15.03 percent by the government. "Therefore, we encourage the private companies and BUMN to fund the development of the country`s infrastructure," Rajasa stated, adding that investment in these projects has reached only Rp647 trillion, whereas it was projected to reach Rp4,000 trillion in 2014.