Tue, 07 Jul 2009
East and Central Java administrations have announced plans to develop their northern and southern border areas to improve domestic and foreign investment, an official said Thursday, The Jakarta Post reported.

East Java Investment Board chief Hary Soegiri said the investment clusters were expected to contribute around 20% of the provinces' investment realization this year.

The clusters would be developed in four regencies in the north: Blora and Rembang in Central Java and Bojonegoro and Tuban in East Java and six regencies in the south: Karanganyar, Wonogiri, Sragen in Central Java and Pacitan, Ngawi, and Ponorogo in East Java.

The clusters would be developed in various sectors including mining, forestry, seaports, agriculture and tourism, Soegiri said.

According to the East Java Investment Board, last year the province had attracted foreign investment worth a total of $2.5 billion in 93 projects and domestic investment worth Rp20 trillion ($2 billion) in 35 projects.

East Java administration also plans to develop a southern highway worth Rp4 trillion, connecting eight regencies, Pacitan, Trenggalek, Tulungagung, Blitar, Malang, Lumajang, Jember and Banyuwangi.

On Tuesday, Soegiri said the newly opened Suramadu bridge connecting Surabaya and Madura Island in East Java has attracted at least 16 local and foreign investors to start or develop businesses in the province, particularly on Madura Island.

He said the board had since May approved eight foreign and eight local investors, out of dozens of applicants, to set up businesses in Madura, adding the companies will start operating within the next four to five months, Soegiri said.



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