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
.
