Mon, 08 Nov 1999

C. Java eyes more investors

SEMARANG (JP): Central Java sees an increase in investment flow in the province following the government's recent decision to fully delegate the licensing authority to the provincial administration.

Soedarsono, the head of the local office of the investment coordinating board, said here on Friday that the new policy would speed up the process of investment licensing.

The new licensing procedures would help investors because they no longer needed to go to the Investment Coordinating Board (BKPM) in Jakarta to obtain investment permits.

Business opportunities are promising because the province has a relatively more stable and secure environment compared to its neighbors in East and West Java provinces, he said.

Fifty-one out of 67 investors here are foreign investors from Japan, Korea, England, China, Germany, Australia, New Zealand and the United States who help create a favorable business development during the crisis, especially in local prime sectors like textile, furniture, tourism and agribusiness. (har/06)