Capital inflow totals $27.9b

Capital inflow totals $27.9b

JAKARTA (JP): State Minister of Investment Sanyoto
Sastrowardoyo revealed yesterday that the government has approved
913 foreign investment projects worth US$27.9 billion as of Nov.
9.

Sanyoto acknowledged, however, that this year's value of
foreign investment approvals would not reach last year's level of
US$39.9 billion.

Meanwhile, domestic investment approvals reached Rp 94.3
trillion (US$39.89 billion) as of Nov. 9, already surpassing the
whole year of 1995 which saw Rp 69.8 trillion in domestic
investment approvals.

Sanyoto revealed the figures in Bekasi, West Java, when
inaugurating a sock factory owned by PT Gunze Socks Indonesia, a
joint venture between PT Great River International and Gunze
Limited of Japan.

Great River chairman Sunjoto Tanudjaja said Gunze Socks
Indonesia, which has an annual production capacity of 3.5 million
pairs of socks, will export 70 percent of its products to various
countries in the Asia-Pacific region, including Japan. (rid)