BKPM to boost investment drive

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)