5 foreign firms invest $13.9m in Batam last month

Five foreign companies invested US$13.9 million in Batam in the Riau Islands province, in February this year, suggesting that the city remains attractive to foreign investors, an official said.

Three of the companies are from Singapore, one from South Korea and one from Taiwan, Dwi Djoko Wiwoho, director of one-stop integrated services and public relations at the Batam Management Board (BP), said here on Friday. 

The Singaporean companies were all engaged in ship maintenance services, the South Korean company in mining supporting services, and the Taiwanese company in the footwear industry, he said.

"Of the five companies, the one in the footwear industry employs the highest number of workers, which is 800, while the other companies employ an average of 200 workers each," he noted.

Compared to January, the foreign investment in February represented a significant increase, he said.

"In January four foreign companies invested in Batam at the value of US$2.150 million," he said. 

Further, in February two companies from Hong Kong and South Korea, which were engaged in the plastic processing and shipping industries respectively, expanded their businesses in Batam at the cost of US$2.1 million.

Bank Indonesia (the central bank) had earlier predicted that Batam`s economic growth in 2012 would fall to 6-7 percent from 7.1 percent last year due to the global economic crisis.
Source: ANTARA