Investment now US$42.3m in Tangerang

Investment now US$42.3m in Tangerang

Multa Fidrus, The Jakarta Post, Tangerang

Tangerang Regent Ismet Iskandar revealed on Monday that the
regency had recorded almost a 100 percent increase in foreign and
domestic investment worth a total of US$42.3 million in the first
semester of this year.

"The 100 percent increase is a positive response from domestic
and foreign companies due to our planned infrastructure
development," Ismet told The Jakarta Post.

He said there would be 59 foreign and domestic companies
involved in new investment.

He also said the regency recorded $22 million in total new
investment during the same semester last year.

The Regency Investment Coordinating Board (BKPMD) head Muhyi
Syarifuddin said that 70 percent of the increase was from foreign
companies and the remaining 30 percent by domestic firms.

"Most of the foreign investors who have started building new
companies or expanding their firms are from South Korea, Japan
and Taiwan," he said.

After those three East Asian countries, the biggest foreign
investors originated from Europe and the United States.

Muhyi also attributed the growth to the regency's commitment
to develop infrastructure and said that fact made it more
attractive than other areas.

The regency plans to build a container terminal and a fishing
harbor for export and import activities in Sukawali village,
Pakuhaji district.

It also plans to develop a 50-kilometer toll road from Serpong
area to the harbor, through the Soekarno-Hatta International
Airport and another toll road which will connect Serpong with
Curug, Legok, Tigaraksa, Balaraja, Kresek, Kronjo, Mauk and
Pakuhaji.

Observers earlier criticized the central government's
announcement on the increase of foreign direct investment as
"deceptive" since the amount was mostly a result of the change of
status from domestic investment companies to foreign investment
firms.