Investment commitments likely to reach Rp. 45.8t<\/p>\n
JAKARTA (JP): Investment commitments in the city are projected
\nto reach Rp 45.8 trillion (about US$21 billion) in the current
\nsixth five year development plan (Repelita VI), three times
\nhigher than during Repelita V, which ended in April, a city
\nofficial says.<\/p>\n
M. Subana Kusika, head of the Jakarta Investment Coordinating
\nBoard (BKPMD), said over the weekend that the projection is based
\non excellent achievements in Repelita V in which the realization
\nfigures of its investment commitments was far higher than the
\ntargets set at the beginning of the five-year period.<\/p>\n
BKPMD data, for example, the domestic and foreign investment
\ncommitments, respectively, reached 632.33 percent and 385.58
\npercent higher than the targeted figures.<\/p>\n
The data show that there were 1,945 local and foreign
\ncompanies investing in the city in the previous Repelita with
\ntotal commitments amounting to Rp 25.71 trillion and $9.52
\nbillion, respectively.<\/p>\n
Out of the 1,945 firms, 1,177 were built and owned by local
\nbusinessmen and the other 768 by foreign investors, according to
\nthe data.<\/p>\n
Subana said that in the period between January and September
\nof this year alone foreign investment commitments in the city
\nreached US$818.35 million for the development of 61 projects.<\/p>\n
The domestic investment commitments in the same period, he
\nsaid, reached Rp 4.58 trillion ($2.10 billion) for the
\nestablishment of 121 projects.<\/p>\n
Reaching the target is expected to help support the country's
\neconomic growth, which has been about 7 percent during the
\ncurrent Repelita VI, he said.<\/p>\n
Subana said that from January to September of this year,
\nforeign companies invested mainly in real estate and office
\nbuildings with combined commitments of $350.39 million. Local
\ninvestment commitments for hotel development reached Rp 1.15
\ntrillion.<\/p>\n
Japan remained the biggest investor in the city from 1964
\nuntil this year by investing in 192 projects with total
\ncommitments of $3.44 billion, followed by Hong Kong with 100
\nprojects worth $1.47 billion and Singapore with 64 projects
\nvalued at $1.25 billion.<\/p>\n
He said that the city administration will take more heed of
\nworkers' safety problems in an effort to reach their goals.<\/p>\n
\"We have to deal with activities which are focused on the
\nimprovement of workers' welfare, quality and security as well as
\nother benefits which guarantee workers' rights when they are
\ninvolved in accidents,\" he said.<\/p>\n
Explaining that workers will give their best if their welfare
\nis guaranteed, he said that his office plans to hold a discussion
\nforum to discuss work safety at Horison Hotel in North Jakarta
\ntomorrow.<\/p>\n
The forum is expected to be attended by Governor Surjadi
\nSoedirdja, Minister of Manpower Abdul Latief and local
\nbusinessmen, he added. (yns)<\/p>",
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"sponsor": "Okusi Associates",
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