Thu, 17 Feb 2011

Padang, West Sumatra (ANTARA News) - The Investment Coordinating Board (BKPM) has set a target of investment for 2011 at Rp240 trillion compared to Rp208 trillion last year.

The 2011 investment target represented a significant increase compared to 2009 when investment reached Rp135 trillion, BKPM Regional Director II Yuliot said here on Wednesday.

He expressed optimism that the 2011 investment target could be achieved due among others to the government`s policy to provide investors with tax holiday facilities under Government Regulation No. 94 of 2010.

In addition, the plan to improve infrastructures all over the country and to step up one-stop services were expected to boost investment this year, he said.

"Therefore, we need to encourage investment because it has many advantages, ranging from the creation of new jobs to the improvement of local people`s economy," he said.

Yuliot was in Padang, capital of West Sumatra province, to attend the inauguration of a Chinese iron ore processing plant. Also present at the event were Secretary of the Policy Analysis and Development Agency (BPPK) at the Foreign Ministry Yusra Khan and a number of investors from China, the Netherlands and the United States.

The presence of iron ore processing plant is expected to encourage the development of machinery and appliance industries in the province.

Asked to comment on a 10-member Chinese investment delegation`s visit in Padang recently, he said BKPM was ready to assist them in investing in the country.

"We have potential natural resources in which companies from China and other countries can invest. Hopefully, they can well benefit from the opportunity," he said.