Investment commitments likely to reach Rp. 45.8t
Investment commitments likely to reach Rp. 45.8t
JAKARTA (JP): Investment commitments in the city are projected to reach Rp 45.8 trillion (about US$21 billion) in the current sixth five year development plan (Repelita VI), three times higher than during Repelita V, which ended in April, a city official says.
M. Subana Kusika, head of the Jakarta Investment Coordinating Board (BKPMD), said over the weekend that the projection is based on excellent achievements in Repelita V in which the realization figures of its investment commitments was far higher than the targets set at the beginning of the five-year period.
BKPMD data, for example, the domestic and foreign investment commitments, respectively, reached 632.33 percent and 385.58 percent higher than the targeted figures.
The data show that there were 1,945 local and foreign companies investing in the city in the previous Repelita with total commitments amounting to Rp 25.71 trillion and $9.52 billion, respectively.
Out of the 1,945 firms, 1,177 were built and owned by local businessmen and the other 768 by foreign investors, according to the data.
Subana said that in the period between January and September of this year alone foreign investment commitments in the city reached US$818.35 million for the development of 61 projects.
The domestic investment commitments in the same period, he said, reached Rp 4.58 trillion ($2.10 billion) for the establishment of 121 projects.
Reaching the target is expected to help support the country's economic growth, which has been about 7 percent during the current Repelita VI, he said.
Subana said that from January to September of this year, foreign companies invested mainly in real estate and office buildings with combined commitments of $350.39 million. Local investment commitments for hotel development reached Rp 1.15 trillion.
Japan remained the biggest investor in the city from 1964 until this year by investing in 192 projects with total commitments of $3.44 billion, followed by Hong Kong with 100 projects worth $1.47 billion and Singapore with 64 projects valued at $1.25 billion.
He said that the city administration will take more heed of workers' safety problems in an effort to reach their goals.
"We have to deal with activities which are focused on the improvement of workers' welfare, quality and security as well as other benefits which guarantee workers' rights when they are involved in accidents," he said.
Explaining that workers will give their best if their welfare is guaranteed, he said that his office plans to hold a discussion forum to discuss work safety at Horison Hotel in North Jakarta tomorrow.
The forum is expected to be attended by Governor Surjadi Soedirdja, Minister of Manpower Abdul Latief and local businessmen, he added. (yns)