German businessmen seek investment chances in RI

JAKARTA (JP): A delegation of businessmen from the German state of Baden-Wuttenberg are here on a five-day mission to look at investment possibilities in Indonesia.

The delegation, led by the state's minister-president, Erwin Teufel, yesterday met with Coordinating Minister for Industry and Trade Hartarto, Minister of Trade Satrio B. Joedono, Minister of Industry Tunky Ariwibowo and State Minister of Investment Sanyoto Sastrowardoyo.

The German group comprises 31 business executives, six government officials, five professors and six journalists.

Sanyoto told reporters after meeting with the delegation that a number of its members were interested in making investments in pharmaceutical, chemical, steel and automotive spare parts industries.

"They are interested not only in building assembling plants, but also in establishing manufacturing facilities in those sectors," Sanyoto said.

Teufel acknowledged that his country's investment in Asia, including Indonesia, is relatively small, as compared to its investment in Eastern Europe, including former East Germany.

Germany currently ranks the tenth among all foreign investors in Indonesia, with total investments of US$4.8 billion in 80 projects. The two-way trade between the two countries for the period between April 1994 and February 1995 reached $3.5 billion, with a US$1.1 billion surplus for Germany.

At the Ministry of Industry, Teufel and Minister Tunky yesterday witnessed the signing of a memorandum of understanding between the Machine Tools Design and Development Center of Indonesia and the Steinbeis Foundation of Germany for the establishment of the Technology Transfer Center Network.

Today, Teufel and his entourage are scheduled to meet with West Java Governor R. Nuriana in Bandung and visit state-run aircraft manufacturing company PT IPTN and state-owned telecommunication-equipment manufacturing company PT Inti, all in Bandung. (rid)