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Malaysia's investment in Indonesia doubles KUALA LUMPUR (MALAYSIA) - While other economies have reduced their investments in Indonesia after the financial crisis period in 1997, Malaysian investors have doubled their investment in the republic. Indonesia's Promotion, Investment Coordinating Board director Ikmal Lukman said Malaysia's investment in Indonesia had grown in terms of number and value of projects soon after the crisis.

In the 30 years before the crisis, there were only 205 projects invested by Malaysians, with a total value of US$5 billion (RM18.2 billion). "After the crisis until April this year, there were 816 projects, valued at US$10 billion (RM36.4 billion), almost double the figure in the pre-crisis. "This shows that Malaysian investors are more optimistic of Indonesia in their outlook than other countries," he said at a business and investment forum for Jakarta in Kuala Lumpur yesterday.

From 1997 until 2005, Ikmal said Malaysia was Indonesia's eighth leading foreign investor after Japan, the UK, Singapore, Hong Kong, Taiwan and the US. Last year, Malaysia was the fourth-biggest investor after Singapore, the UK and Japan. He added that overall Malaysia's investment from 1990 to April this year was dominated by plantations, followed by the food industry, rubber and plastcis, metal machinery and electronics, and livestock.

In total the investment covered 79 sectors, with the total value of US$800 million (RM2.9 billion). Last year, the authorities approved 161 new projects from Malaysian investors, 15 expansion plans and 12 acquisitions by Malaysian companies. Ikmal added that Indonesia needs a substantial foreign direct investment to keep the country growing and to meet its targeted economic growth of an average 6.6 per cent a year by 2009.

Last year, he said, a total of 1,123 projects, valued at US$12.14 billion,(RM44.2 billion) were implemented, which reflected a growth of 66 per cent in terms of the number of project and 100 per cent in total value.



Posted in Economy @ 25 May 2006 19:23 CET by Jeroen · 'Blog' RSS feed · permalink






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