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)