IFC Helps Indonesia’s Central Java Province Attract New Investments
In Jakarta:
Ariavita Purnamasari
Phone: (+62) 811891571
E-mail: apurnamasari@ifc.org
In Hong Kong:
Andrew Mak
Phone: (+852) 92770706
E-mail: amak@ifc.org
Jakarta, Indonesia, November 26,
2008—IFC, a member of the World Bank Group, is helping attract investment
to Indonesia’s Central Java province during the global economic downturn
by working with provincial investment authorities to showcase investment
projects totaling $1.5 billion in the infrastructure, mining, property
and agribusiness sectors.
Central Java Invest, an investment promotion
agency developed with support from IFC, today hosted a business forum to
showcase the province as an attractive investor-friendly investment destination.
The agency was created by the Board of Investment and the Central Java
Chamber of Commerce and Industry, and has been holding the annual Central
Java Investment and Business Forum for three years.
The forum is designed to provide
a platform for local business partners, city and district mayors, and officials
from immigration, customs, and law enforcement to meet with potential investors.
Prospective investors attending the forum will receive information
on 60 investor-friendly projects in the infrastructure, manufacturing,
mining, property and agribusiness sectors.
“During a global economic downturn,
direct investment is a particularly important instrument to sustain private
sector growth and economic development,” said Agus Suryono, Chairman of
the Central Java Provincial Investment Board. “Through the Investment
Board, the government intends to attract and accelerate new direct investments
to Central Java, which will promote job creation and business opportunities
for micro, small and medium enterprises, as well as enhance the province’s
economic prosperity.”
Adam Sack, IFC Country Manager for Indonesia,
said: “The current global financial turmoil is putting additional pressure
on governments across Southeast Asia to attract more investment for development.
Central Java Invest will help provide the province with the necessary capacity
to attract new investment and provide investors with sophisticated, effective
services.”
Last year’s Business Forum generated
interest in 14 projects in infrastructure, manufacturing, mining, property,
and agribusiness, with a total project value of around $600 million.
IFC, supported by the governments of
Australia, Japan, the Netherlands, New Zealand, and Switzerland, supports
Central Java Invest by providing provincial and district-level personnel
with world-class training on investment promotion. Central Java Invest
aims to attract investors by using a client-oriented approach that assists
them from initial contact through to commercial operations.
About IFC
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous
year. For more information, visit www.ifc.org.
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