Fri, 14 Feb 2003

JCCI, Batam sign promotion pact

BATAM, Riau (JP): Chairman of the Japanese Chamber of Commerce and Industry (JCCI) in Singapore Takashi Muraki said here on Thursday that it was ready to provide information and help Batam Industrial Development Authority to attract more Japanese companies to invest here.

Accompanied by 50 Japanese businesspeople, Muraki said Batam island was a well-known industrial zone in Asia and had attracted foreign investors due to its competitive edge such as a positive investment climate and low-cost investment.

He said he had made a one-day visit to Batam to sign a memorandum of understanding (MoU) and to witness development and investment on the island, which is close to Singapore.

Muraki and chief executive of Batam Authority Ismeth Abdullah signed the MoU, which covered cooperation on data and information exchange, and investment, trade and promotion missions.

Muraki said JCCI, with 7,000 members, would play a role in providing advice to Japanese companies, which had the right to decide whether or not to invest in Batam.

The 1990 to 2002 data shows that around 52 Japanese companies, of which 39 were joint ventures, operated in Batam, with total investments amounting to US$ 395.80 million. They invested in electronics, oil and gas, laboratory and health instruments, and plastic products.

There are in total 611 companies, 34 of which are multinational, with a total investment of US$9.2 billion. Around 300 Japanese expatriates work there.