RI improves Taiwan office

RI improves Taiwan office

TAIPEI (AFP): Indonesia will expand and rename its office in Taiwan in a bid to further strengthen economic and investment ties, local press reported yesterday.

The Indonesian Chamber of Commerce to Taipei will be renamed the Indonesian Economic and Trade Representative Office in Taipei while its staff will be expanded to handle the rapidly increasing trade between the two countries, the Economic Daily News said.

Ferry Yahya, the industrial director of the chamber, said the office would move to the center of the city from suburban Taipei after it is renamed.

Achmad Kurniadi, investment director of the chamber, urged Taiwanese private and state-run firms to step up investment in Indonesia to keep ahead of their counterparts from South Korea, Japan and the United States.

Indonesia is one of the three priority investment destinations, together with the Philippines and Vietnam.

Taiwanese investment in Indonesia in the first six months of 1994 shot up to US$2.41 billion, 100 times more than the $24.1 million in the same period last year.