Comments by Wayne Forrest
At BIDA New York City Seminar
October 26, 2004

Ladies and Gentlemen: It is my pleasure to welcome you to this forum on investing in Indonesia and specifically the island province of Batam. It is a true testimony to the democratic changes occurring in Indonesia that the governor of this important region has come directly to the United States independently of the central government. Ismeth Abdullah’s trip here symbolizes that Indonesia has turned a corner and is looking at a bright future in which regions will be able to plot their own destinies and come to markets directly. Just 6 days ago more people voted directly for their nation’s President than in any country in the world’s history. Although the US has more voters, turnout is much less. India, also a democracy with more voters, elects representatives to a national Parliament which then chooses a Prime Minister. Batam’s closeness to Singapore and its “can do” business attitude position it well to capture a new wave of investment that is beginning to enter the country now that Indonesia has consolidated its democratic changes.