Canada vows to boost investment

Canada vows to boost investment

JAKARTA (JP): Canada plans to boost investment in Indonesia to
US$5 billion in the coming three years as of this month,
Ambassador Lawrence T. Dickenson said yesterday.

"We are planning to increase our investment, especially in the
mining and energy sectors, in the next three years," Dickenson
told reporters in a meeting with representatives of 40 Canadian
mining companies.

He also said that the current total investment of $3 billion
was a cumulative amount which was started in the 1960s.

Canada's investment in Indonesia is spearheaded by PT
International Nickel Indonesia (Inco), which is controlled by a
group of Japanese firms and the Canada-based Inco Limited. The
firm, which is now listed on the Jakarta Stock Exchange, engages
in nickel mining in a concession area of 218,000 hectares area in
southern Sulawesi with investments of over $1.2 billion.

The ambassador declined to elaborate on the specific projects
expected to contribute to realizing his projection of an
investment increase.

Some of the projects are still in the middle of bidding
processes, he said.

Dickenson said that other than mining and energy, several
leading Canadian hotel companies, including the Four Season and
Regent, will soon realize their investments in Jakarta.

He also said the upcoming informal summit of the Asia Pacific
Economic Cooperation (APEC) forum, of which both Indonesia and
Canada are members, will facilitate trade and investment
relations between the two countries even more. (hdj)