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NEWS UPDATES 2 October 2010

Taiwan sees Indonesia as a good investment

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Indonesia expects annual investment from Taiwan to double to US$2 billion next year, primarily in the textiles, manufacturing and infrastructure sectors, the head of the national investment board said on Friday.

"We see large interest from Taiwanese investors today," said Gita Wirjawan, head of the Investment Coordinating Board (BKPM).

"They have invested $14 billion in the past 10 or 20 years, or slightly less than $1 billion per year. That is too small. I hope it will be $2 billion starting next year."

His comments came after a meeting with a Taiwanese delegation led by Economic Affairs Minister Shih Yen-shiang.

"The potential is high. We talked about billions of dollars per year," Gita said.

Industry Minister MS Hidayat also expressed optimism for the budding relationship, and said the government could provide up to 1,000 hectares of land in Bekasi for Taiwanese companies to set up factories.

"The infrastructure there is ready," Hidayat said.

"They have said that they want to set up footwear and electronics plants there. And if they want to open machinery plants, Gita and I would support it greatly, because that means we would not have to import machinery from China."

Shih said Taiwanese businesses had come to regard Indonesia as an ideal target for investment due to its abundant natural resources, huge market, stable economy and democratic governance.

"So many of our investors are thinking of coming to Indonesia," he said.

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