Investment Predicted To Exceed US$31 Billion

Jakarta (Antara Bali) - The Capital Investment Coordinating Board (BKPM) said it is optimistic the investment target would be overshot this year.

BKPM chief Chatib Basri said investments by both foreign  and  and domestic investors are expected to reach at least Rp300 trillion (US$31.5 billion) this year exceeding the target of Rp283.5 trillion.

"In the first nine months of the year, investments already reached  Rp229.9 trillion,"  Chatib said here on Monday.

Increase in investments will be driven by growing imports of capital goods and investment commitments by a number of countries, Chatib said.

"Fairly strong economic growth recorded by Indonesia amid the global financial woes would also contribute to boosting investment in the country," he said.

Domestic investments  accounted for Rp65.7 trillion and foreign investments for Rp154.2 trillion of the total investments in the first nine months of the year, he said.(IGT)