JCCI, Batam sign promotion pact

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.