RI is Canada's major investment destination

RI is Canada's major investment destination

SEMARANG (JP): Canadian direct investments in Indonesia have
exceeded US$9 billion this year, making Indonesia its largest
investment destination in Southeast Asia, according to the
Canadian ambassador Kenneth Sunquist.

The ambassador said that most of the investments were in the
mining and the energy sector through ventures such as Inco's
nickel mine in Sulawesi, and energy companies such as Gulf,
Talisman, Equatorial and Husky.

He added that his country had also invested in financial
services through Manulife.

"We also have over 50 companies investing their capital in
many business areas, including shoe manufacturing, engineering
and environmental services, electricity generation and oil field
products manufacturing," Sunquist said in an address he delivered
at a conference held in Semarang.

The conference, co-sponsored by the Canadian Embassy and the
Central Java chapter of the Indonesian Chamber of Commerce,
discussed business prospects in the province.

The ambassador said that Canada's exports to Indonesia, which
showed a 30 percent increase last year, were expected to further
increase this year.

Canada mainly exports wheat, pulp and paper, chemicals, and
telecommunications products to Indonesia, while Indonesia exports
electronics products, textiles and clothing, rubber, coffee, wood
products and furniture.

The trade volume between two countries reached about $800
million last year, he added. (05/har)