Canadian investments in RI expected to increase
Canadian investments in RI expected to increase
JAKARTA (JP): Canadian investments in Indonesia are expected to increase from the current level of US$2.7 billion to over $4 billion within five years, a Canadian official says.
The head of the Canada-Indonesia Business Development Office (CIBDO), Mark G. Drake, told The Jakarta Post yesterday that he projects the investment level to cumulatively increase to $3.2 billion in a year or two and to slightly over $4 billion two or three years after that.
Drake, who is also the head of the Canadian Exporters Association, is currently on a visit here to oversee the newly set-up CIBDO office at Wisma Metropolitan II and meet with State Minister of Investment/Chairman of the Investment Coordinating Board Sanyoto Sastrowardoyo later today.
Drake estimates that the investment increase will come primarily from some 50 to 75 projects, with the charge being led by the expansion projects of the Canadian company Inco, a nickel mine operator in Sulawesi, and the Bata shoe company, which is 65 percent Canadian-owned.
Drake believes that there will be a continuing trend of Canadian investments in Indonesia because "Indonesia is coming into the Canadian consciousness."
"Indonesia is part of the Asia-Pacific, which is gathering a lot of interest," he added.
According to CIBDO's senior project officer here, Bruce Watson, Canadians have historically been more focused on their fellow Commonwealth countries, though this is now changing.
Minister Sanyoto, along with a number of businessmen, is scheduled to make presentations in the Canadian cities of Vancouver and Toronto in the second week of May.
CIBDO began operating its office in Jakarta to facilitate and assist business relations.
As Watson said, he aims to go out and grab opportunities concentrating not just on Jakarta but also on the outer areas of the country.
He took note of the tremendous opportunities in the development of infrastructure in Indonesia, especially in the fields of telecommunications, ports and toll roads, areas in which Canada has reputable expertise.
As a personal goal, CIBDO hopes to generate $10 million worth of investments over the next year or so. (mds)