Tue, 20 Nov 2007
Around 20 Taiwanese footwear companies will move their operations from China to Indonesia with a total investment of $4 billion, an official of the industry ministry said, Asia Pulse reported.

Multifarious industries director Nugraha Sukmawidjaya said an extension of anti-dumping sanctions on Chinese footwear products in the European Union prompted the relocation of the factories from China.

The rising value of the yuan against the US dollar and increasing labor costs in China has also influenced the companies, Nugraha said.

The Taiwanese investors have asked the Investment Coordinating Board (BKPM) to provide land.



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