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Morgan Stanley opens local branch in Indonesia

Against the backdrop of the global financial crisis, the United States financial giant Morgan Stanley has officially opened its doors in Indonesia in a decision which reflects investor confidence toward the country's economy in general.

Morgan Stanley Asia Indonesia president director Inghie Kwik announced Monday the opening of the company's local branch after it had secured licenses from the country's stock market regulator (Bapepam) in July.

"This (decision to open a branch) is a long term investment for us...compared with Thailand, the Philippines, and Vietnam. Indonesia is a very big country, its population and its associated industries, such as retail, consumer goods and telecommunications are examples that the country's potentials remain promising despite the global financial crisis," Inghie said.

The decision, he said was also part of the company's long term strategy in expanding its operation in Southeast Asia's emerging markets.

Source: The Jakarta Post 28/10/2008
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