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Economy in brief: BKPM pledges cooperation with S. Korean investors
The Investment Coordinating Board (BKPM) will help South Korea realize investment projects in Indonesia, the agency head said Monday
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he Investment Coordinating Board (BKPM) will help South Korea realize investment projects in Indonesia, the agency head said Monday.
'South Korea's Trade, Industry and Energy Minister asked the government for help so their major investment projects in Indonesia could run smoothly,' BKPM head Franky Sibarani said after a meeting with the South Korean minister in Jakarta, as quoted by tribunnews.com.
BKPM facilitated a total of 100 foreign and domestic investment projects worth more than Rp 400 trillion (US$ 30 billion), since October 2014 until April this year, Franky said.
The board has already completed 20 of the projects, worth Rp 99.97 trillion, in the fields of mining, trading, power, pharmaceuticals and chemicals, sugar, plantations, metals and tourism.
The plan to facilitate South Korea's investment projects followed Franky's four-day visit to the country on May 6-9 to hold a meeting with its senior-level officials to promote and boost foreign investment in Indonesia.
South Korea ranks as the third biggest foreign direct investment (FDI) contributor in Indonesia, having invested $634 million for 372 projects during the first quarter. ' /foy
