Yemeni investors build palm oil plant in North Sumatra
Yemeni investors build palm oil plant in North Sumatra
MEDAN, N. Sumatra (JP): State Minister of Investment and State
Enterprises Development Rozy Munir praised the two palm oil
factories built by Yemeni investors in the Medan industrial
estate as a vote of confidence in Indonesia's future despite the
multidimensional crisis the country currently is mired in.
"I am quite delighted to be here to dedicate these two
investment projects, which were undertaken at a time when most
foreign investors wait in worry and shun Indonesia," Munir said
during the inauguration of the two plants on Tuesday.
The Hayel Saeed Anam Group of Yemen invested about US$20
million in PT Pacific Palmindo Industri, which is capable of
processing 1,000 metric tons of crude palm oil into stearin,
olein and fatty acid, and PT Oleochem & Soap Industri, which
manufactures soap, glycerine and olein-based chemicals.
Munir said Hayel Saeed's investment clearly showed there were
numerous viable investment opportunities in Indonesia despite the
crisis the country currently faces.
"I hope other investors, notably those from the Middle East,
will follow the bold step taken by the Hayel Saeed group," he
said.
The president of the Hayel Saeed Group, Ali Muhammed Saeed,
said his company believed in Indonesia's future despite the
problems currently besetting the country.
"We have decided to make Indonesia the base of our industries
overseas," Ali said during the inauguration ceremony, which was
also attended by several diplomats.
He also expressed his appreciation for the expediency with
which the government licensed the investment projects.
"We will continue to look into other investment opportunities
in this country," he added.
Munir acknowledged a steep decline in foreign investor
interest in Indonesia, but he said this was a temporary
phenomenon that would disappear as soon as the country overcame
its difficulties.
"We have expedited the licensing procedures for both domestic
and foreign investment ventures, and have empowered provincial
administrations to issue all kinds of investment permits," he
said, adding that it now took 10 days at the most to obtain all
the necessary permits for an investment project.
North Sumatra Governor T. Rizal Nurdin promised to provide any
additional support the Hayel Saeed group required to ensure its
business in the province was a success.
"Since we received the authority to issue investment licenses
last October, we have so far approved 10 domestic and 13 foreign
investment projects in North Sumatra," Nurdin said.
He added that the provincial investment office took about
three days to complete all the permits required by investors.
Nurdin also said the agro-based industry was one of the most
promising sectors for new investment in the province. (vin)