Investment in Batam up 32.34 %

ANTARA News - 2006-12-28 12:54:56

Batam, December 27, 2006 (ANTARA News) - The Investment Coordinating Board (BKPM) in the January-November 2006 period licenced 72 new foreign investment projects worth US$172.96 million on the industrialized island of Batam.

Over the period, the board also licenced foreign expansion projects worth US$197.62 million, spokesman of the Batam Authority Dwi Djoko Wiwoho said on Wednesday.

The foreign investors were mostly engaged in the trade sector, the shipbuilding industry, the garment industry and accommodation services, he said.

Only two domestic investment projects worth more than Rp27 billion were approved in the period, he said.

Overall, investments in the first eleven months of 2006 rose 32.34 percent to US$376.59 million from US$254.739 million a year earlier, he said.