Investment in C. Java still low
Semarang, Central Java (ANTARA News) - Domestic and foreign investment in Central Java in 2007 was quite low compared to the investment approvals that had been issued.
Head of the Central Java investment agency office Agus Suryono said in Semarang on Monday that there was such a big difference between the realized and approved investments in 2007 apparently because it took quite some time to issue an approval.
Foreign investment in 2007 reached only 66.8 million US dollars, while approvals had been issued for investments totalling 317.1 million US dollars. Domestic investment amounted to only Rp348.9 billion, which was lower than the approved investements of Rp1.2 trillion, he said.
He also said that 82 foreign investment projects in Central Java had been approved in 2007, but only 42 had actually been realized, while only seven of the 15 approved domestic investment projects had been realized.
According to Agus, approval is normally issued in the following month because it involves licensing and comprehensive preparations of a project.
"The preparations cover factory or building construction to support the project, which normally takes 6 to 12 months," he said.
The majority of the foreign and domestic investments in Central Java that had already been realized covers textile, food and trade, which have good prospects, Agus said.
He also said that the Central Java investment office will continue trying to make breakthroughs with a view to realizing foreign and domestic investments which are expected to boost economic growth in the province.
He said the office in 2008 projected domestic and foreign investments in the province to reach Rp3.89 trillion, mainly in the textile industry, trade and tourism.
"Some projects in the textile industry, mining and tourism sectors in Central Java in 2008 had already been realized, and therefore expected to move the economy and development, as well as provide lots of jobs to the people," he added. (*)
Head of the Central Java investment agency office Agus Suryono said in Semarang on Monday that there was such a big difference between the realized and approved investments in 2007 apparently because it took quite some time to issue an approval.
Foreign investment in 2007 reached only 66.8 million US dollars, while approvals had been issued for investments totalling 317.1 million US dollars. Domestic investment amounted to only Rp348.9 billion, which was lower than the approved investements of Rp1.2 trillion, he said.
He also said that 82 foreign investment projects in Central Java had been approved in 2007, but only 42 had actually been realized, while only seven of the 15 approved domestic investment projects had been realized.
According to Agus, approval is normally issued in the following month because it involves licensing and comprehensive preparations of a project.
"The preparations cover factory or building construction to support the project, which normally takes 6 to 12 months," he said.
The majority of the foreign and domestic investments in Central Java that had already been realized covers textile, food and trade, which have good prospects, Agus said.
He also said that the Central Java investment office will continue trying to make breakthroughs with a view to realizing foreign and domestic investments which are expected to boost economic growth in the province.
He said the office in 2008 projected domestic and foreign investments in the province to reach Rp3.89 trillion, mainly in the textile industry, trade and tourism.
"Some projects in the textile industry, mining and tourism sectors in Central Java in 2008 had already been realized, and therefore expected to move the economy and development, as well as provide lots of jobs to the people," he added. (*)