Major companies start expansion projects: Luhut<\/p>\n
JAKARTA (JP): Although foreign investors are still reluctant
\nto enter the country, several major existing companies have
\nstarted to expand their businesses, Minister of Industry and
\nTrade Luhut B. Panjaitan said on Tuesday.<\/p>\n
\"At least three major companies will start expanding next
\nyear,\" he said during a hearing with the House of
\nRepresentative's Commission V for industry and trade affairs.<\/p>\n
Luhut said the companies were electronics' manufacturers PT
\nSony Electronics Indonesia and PT Matsushita Kotobuki Electronics
\nPeripherals Indonesia (MKPI), and computer-printer manufacturer
\nPT Indonesia Epson Industry.<\/p>\n
Sony Electronics would increase its exports to $350 million
\nnext year, and Epson to $1 billion from $650 million, the
\nminister said. Luhut did not disclose the export target of
\nMatsushita but he said that the electronic giant's exports from
\nIndonesia would rise to about 3 percent of Indonesia's gross
\ndomestic product (GDP) in 2003 from only 0.5 percent of GDP in
\n2000.<\/p>\n
The minister stated that the three electronic giants'
\nexpansion commitments reflected the growing confidence of foreign
\ninvestors in Indonesia.<\/p>\n
He said that the economy had also shown signs of recovery as
\nreflected by economic growth of 2.36 percent in the first three
\nmonths of the year and 0.38 percent in the second quarter of
\n2000.<\/p>\n
He added that he expects growth of between 4.5 percent and 5.5
\npercent in 2001, considering the emergence of a more stable
\neconomy, broader growth of exports and a better investment
\nclimate.<\/p>\n
Exports between January and August totaled $40.25 billion,
\nconsisting of $8.98 billion from oil and gas and $31.26 billion
\nfrom the non-oil and gas sector, representing an increase of
\n31.78 percent and 25.53 percent respectively over the same period
\nlast year.<\/p>\n
Exports this year were targeted at $56.7 billion, with $12
\nbillion coming from the oil and gas sector, and $44.7 billion
\nfrom the non-oil and gas sector, Luhut said. This year's
\nestimated total exports would far exceed last year's $48.6
\nbillion.<\/p>\n
\"We are optimistic that exports will exceed the original
\nestimate of $60.4 billion,\" he said. (tnt)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/major-companies-start-expansion-projects-luhut-1447893297",
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