S'pore is RI's 4th largest investor

S'pore is RI's 4th largest investor

SINGAPORE (Reuter): Singapore has become Indonesia's fourth largest investor on a cumulative basis, the Straits Times said.

The paper quoted Indonesia's ambassador to Singapore, Soedibyo Rahardjo, as saying the city-state had moved up one position from end-1994, when it was fifth with approved investments of US$8 billion.

Soedibyo did not give new dollar figures for investments, the paper said. It quoted him as saying Japan was the biggest foreign investor in Indonesia.

At the end of last year, Britain, Hongkong and the United States also ranked ahead of Singapore, the paper said. Singapore became Indonesia's third largest trading partner last year, up from fifth the year before. Bilateral trade rose 16.7 percent to US$6.03 billion, the paper said.