British commitments up

British commitments up

JAKARTA (JP): State Minister of Investment Sanyoto Sastrowardoyo said here yesterday that Britain will replace Hong Kong as the second largest foreign investor in Indonesia this year.

"Total British investment commitments approved by the government in the January-November period of this year reached US$6.1 billion ," He said in his presentation at a two-day workshop of the Ministry of Tourism, Post and Telecommunications.

Sanyoto, who is also Chairman of the Investment Coordinating Board (BKPM), said that Hong Kong used to be the second largest foreign investor in Indonesia after Japan.

Data from BKPM show that the government approved 15 British projects worth $2.9 million and 35 Hong Kong projects worth $6.04 million in the first 11 months of last year.(icn)