German businessmen seek investment chances in RI

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)