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Economy

Widodo shifts up a gear to pursue FDI

JAKARTA -- Indonesian President Joko Widodo's mid-February decision to open Indonesia's economy to greater foreign ownership signaled his eagerness to step up the pace of reform and, according to analysts, could result in more overseas investment flowing into the country this year. 

     "I think the objective is very clear," said David Sumual, chief economist of Bank Central Asia in Jakarta. "The government wants to protect small and medium enterprises, but for high capital-intensive industries they want to open up."     

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