Investment in Indonesia expected to grow 15.2 percent

Jakarta (Antara News) - Capital Investment Coordination Board (BKPM) Chief M. Lutfi said investment in Indonesia is expected to grow by 15.2 percent in 2008 or faster than 12.54 percent as projected by the Finance Ministry.

"Realization of investment in Indonesia next year will increase thanks to an expected improvement in the country`s investment climate," Lutfi said when presenting a report on investment realization in the country in 2007 at the State Palace here on Tuesday.

Based on the report (for the January 15 - September period), investment realization during the period totaled Rp125.95 trillion or about US$13.99 billion. It jumped 169.02 percent from Rp74.51 trillion or US$8.28 billion in 2006.

Of the total of Rp125.94 trillion, foreign investment reached Rp91.8 trillion or US$10.20 billion. It increased 170 percent from Rp53.73 trillion or US$5.97 billion in 2006.

Domestic investment accounted for Rp31.14 trillion or US$3.79 billion, or an increase by 164.29 percent from Rp20.78 trillion or US$2.30 billion in 2006.

Lutfi said in order to maintain the upward trend in investment realization, Indonesia needed to improve its investment climate through among others simplifying its investment services, tax reforms, fiscal facilities, excise customs, incentives and improvements in its bureaucracy in general.(*)
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