Group Of 31 Spanish Companies Ready To Invest In Indonesia

Jakarta (Antara Bali) - A number of 31 Spanish companies taking part in a Forum of Investment and Business Cooperation here said they are interested in doing business in the country mainly investment in infrastructure, construction , energy  and land transport sector.

Spanish companies have proved credibility in building infrastructure projects in various parts of the world such as in the construction of high speed train from Mecca to Medina  and between Los Angeles  and San Francisco, Spanish Trade Minister Jaime Garcia-Legas , a key speaker at the forum, said.

Garcia-Legas said the Indonesian economic condition is relatively stable, therefore, Spanish companies are optimistic they could increase their investment commitments to 250 euro in two years much higher than  70 million euro in the past years.

The forum officially opened by Minister for National Development Planning/head of the National Development Planning Board (Bappenas)  Sofyan Djalil was also attended by Trade Minister Thomas Lembong.

Sofyan Djalil said there are many business opportunities that could be used by Spain companies for investment in the country  such as in the sector of railway transport and power generating facilities. for investment.

"Currently only Java and Sumatra have railway transport facilities , and construction just began in Sulawesi and Kalimantan. In long term railway transport facility would also be built in Papua," he said.

Spanish Ambassador to Indonesia Fransisco Jose Viqueira said that trade relations between the two countries have continued to expand in the past several years, marked with growing exports and imports bilaterally.

Last year Spain imported 1.706 billion worth of goods from Indonesia  and the figure is expected to increase in 2015. Spain imports  from Indonesia cooking oil, coal, rubber , shoes and textiles.

Meanwhile, Spain's exports to Indonesia were worth 389 million euro  in 2014  and in the first eight months of this year exports rose 24 percent on-year.

Spain's exports commodities to Indonesia in 2014 were mainly aircraft spare parts, steel products, paper, chemicals, , machines, etc.

Currently there are around 50 Spanish companies operating in  Indonesia  and the number had double in the past five years.

Based on data from BKPM, Spanish investment in Indonesia  in the first nine months of 2015 were valued at only US$25.91 million placing Spain in the 25th  among investing European countries in Indonesia. (WDY)