The Indonesian Regional Investment Forum in Jakarta offered opportunities in a reported 200 projects scattered across the archipelago, from agribusiness to oil, gas, property and tourism.

Opening the forum, President Susilo Bambang Yudhoyono said the gathering aimed at “achieving higher growth through exports and investments, stimulating the real sector to create employment and promoting rural and agricultural development to reduce poverty.”

The call for investors comes in the face of unease over Indonesia’s investment climate, where clashes between local and national laws and an often arbitrary legal system are seen as significant barriers.

Earlier this month potential investors were scratching their heads over the Indonesian court of appeal’s decision to uphold a ruling by the competition watchdog ordering Singapore-based investment giant Temasek to divest its stake in one of two of Indonesia’s largest telecom operators.

The watchdog Commission for the Supervision of Business Competition said in November that Temasek, which is linked to Singapore’s government, was guilty of monopolistic and anti-competitive behavior in Indonesia’s cellular market through its stakes in PT Telkomsel or PT Indosat.

The decision has been heavily criticized as arbitrary and politically motivated in both Singapore and Indonesia.

Despite jitters in some quarters, foreign direct investment in Indonesia reached US$10.34 billion last year, 73.2 percent higher than the year before.

Singapore was the biggest source of investment, sinking some US$3.75 billion into the economy.

Despite its large pool of consumers and rich resources, Indonesia’s relatively high labor costs, crumbling infrastructure, widespread corruption and confusing laws and regulations are often cited as concerns by investors.

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