BKPM to boost investment drive

JAKARTA (JP): The Investment Coordinating Board plans to promote the country more to foreign investors this year.

Sugihono Kadarisman, the board's deputy chairman for promotions, said Thursday that intensified promotions would be especially directed at countries with great potential to invest in Indonesia.

"European and East Asian countries will become important destinations for the board's investment drive this year," he said adding that such countries had already made big investments in Indonesia.

Sugihono said his office had held investment promotion activities over the years in several countries including Switzerland, Italy, France, England, the United States and Australia.

European, American and Australian investors are among the largest investors in Indonesia.

The presence of foreign investors in Indonesia would not only boost the country's economy but also provide strategic cooperation with domestic investors, he said.

"The country's business investment has provided mutual benefits for foreign and domestic investors."

He said the presence of international investors would help domestic investors play an important role in international business: "International investors help domestic investors to face the globalization era."

He said there would also be more intensive domestic investment promotion.

"Domestic investment promotion will target both domestic and foreign investors," Antara quoted him as saying.

He reiterated the need for continuity in investment promotion which aimed to provide as much information as possible to investors.

But he said the impact of the coming promotion would not be felt for a long time.

The board's chairman, Sanyoto, reported earlier that the government had approved 841 foreign investment projects worth US$26.5 billion between Jan. 1 and October 15, 1996, compared to 666 projects worth $33.6 billion in the corresponding period of 1995.

From Jan. 1 to Oct. 15 1996, 708 domestic investment projects worth Rp 90.9 trillion ($38.5 billion) were approved, compared to Rp 52.7 trillion worth for the same period in 1995. (09)