Investment Continues Despite Rising Value Of Dollar

Semarang, Central Java (Antara Bali) - The Central Java Capital Investment  Board (BPMD) said the rising value of the US dollar did not put a brake on investment both by domestic and foreign companies in Central Java.

"In Central Java, the global crisis has no impact on the investment sector as it is time for those holding the US dollar to start investment," head of the Central Java BPMD Sudjarwanto Dwiatmoko said here on Friday.

Sudjarwoko said until now the BPMD continues to receive  applications for license to  invest in both upstream and downstream sectors.

"Demand for investment license in Central Java is still high. One of them asked for license to build steel industry that would need a land plot of 600 hectares," he said.

There are also investors planning to build labor intensive industries such as textile  and shoe making factories, he said, adding one investor has even started building a textile factory added.

A Korean investors wants to build animal feed factory, he went on to say.

He said this year, new investments both foreign and domestic investments are expected to reach Rp27 trillion in Central Java.

He said in the first half of the year, implementation of investment projects already reached Rp7.1 trillion in value and 20 percent of which are foreign investments.

Most foreign investors are interested in textile and textile product industry, shoe making industry  and electronic industry, he said. (WDY)