Foreign firms enter Banten

TANGERANG: Ten foreign companies operating in Banten province will expand their businesses in the near future, creating employment for 1,384 people.

The companies produce textiles and textile byproducts, processed foods, building materials and machines.

"These expansion investments are worth US$55 million," Muhadi, head of the province's capital investment coordinating board (BKPMD), told The Jakarta Post on Friday.

During the first semester of this year, Banten recorded a total of $86.5 million in foreign investment and Rp 100 billion in domestic investment for business expansion.

"The amount does not include new foreign and domestic investment that has reached a total of $113.6 million and Rp 576 billion respectively between January and May," he said.--JP