60,000 factory workers fired

BATAM, Riau: About 60,000 workers were laid off after 14 foreign-owned factories in Batam stopped operations over the last year in the wake of the worldwide economic slowdown.

Abdullah Goze, an official with the Batam Chamber of Commerce, said the factory closures resulted from a decline in global demand for electronics goods.

The closed factories, most producing electronics, were among 90 foreign-owned factories operating in the Batamindo industrial park.

However, the Batam Authority played down the closures, saying they were offset by the new investments the island city had approved over the course of the year.

"The Batam Authority has approved 74 new investments from January to October this year," said Fathullah, the spokesman for the Batam Authority.

Domestic and foreign investment in Batam totals US$8.3 billion. -- Antara