Foreign direct investment rose to $2.99 billion in the first quarter of 2007 from $2.6 billion in the same period last year, National Investment Coordinating Board (BKPM) chairman Muhammad Lutfi said on Tuesday (10\/4\/07).<\/p>\n
Foreign direct investment approvals rose to $14.13 billion in the January-March period from $2.36 billion in the same period last year, he said, according to Reuters.<\/p>\n
Meanwhile, realized domestic investment rose 60.56% to Rp13.68 trillion from Rp8.52 trillion a year ago while domestic investment approvals jumped to Rp77.15 trillion from Rp16.1 trillion in the same quarter last year.<\/p>\n
Lutfi claimed that the pick up in both actual and proposed investments was due to the passage of a new investment law in the quarter, which includes the condition that both domestic and foreign direct investment "will be treated equally" in terms of rights, obligations and facilities, XFN-Asia reported.<\/p>\n
Data from the investment board showed that for actual FDI projects, the biggest investment in the first quarter by PT Trans-Pacific Petrochemical in an aromatic project was worth $1.31 billion.<\/p>\n
Major realized domestic investments included Rp3.78 trillion in a pulp industry project by PT Lontar Papyrus Pulp & Paper; and a ferronickel project worth Rp2.77 trillion by PT Antam.<\/p>\n
Among the major FDI projects approved in the quarter was a new oil and gas refinery worth $4.44 billion to be built in Batam by PT Kilang Minyak Intan Nusantara Tanjung Sau. A power project worth Rp1.745 trillion owned by PT Bosowa Energi was among the major domestic projects approved.<\/p>\n
Last year, actual foreign direct investment fell to $5.98 billion from $8.91 billion in 2005, although FDI approvals were up to $15.62 billion from $13.58 billion.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/q1-foreign-investment-rises-1176728381", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }