C. Java eyes more investors

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)