Foreign investors still interested in Indonesia, minister says

Jakarta (Antara News) - Industry Minister Fahmi Idris said that foreign investors are still interested in Indonesia in view of this world largest archipelagic country`s increasing economic growth in addition to its vast population.

"The construction of a TVS Motor Company`s factory in Karawang shows that foreign investors are still interested in building a motorcycle factory in Indonesia," he said in his address here on Monday marking the commencement of the operations of TVS Motor factory in Karawang.

In 2006, Indonesia produced 4.5 million motorcycles, and in 2007 expected to increase to five million.

Fahmi Idris hoped that the manufacture of automotive components most of which by small and medium industries could be further increased to meet the increasing needs for the products of the motorcycle assembling plants.

In the meantime, Venu Srinivasan, President Commissioner of PT TVS Motor Company said TVS Company in Indonesia was the fourth factory of the TVS group outside India.

The factory of PT TVS Motor Company Indonesia in Karawang, West Java, was built with an initial investment of US$50 million.(*)
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