Posted on 11 Sep 2008
Indonesian minister sees investment up more than 10 pct
Investment in Indonesia should grow more than 10 percent this year despite global financial turmoil, the trade minister of Southeast Asia's biggest economy said Wednesday.
"We are still optimistic that investment in Indonesia will grow more than 10 percent even though the condition of global markets is very bad," Mari Pangestu was quoted by AFP as telling reporters.
Total investment last year was 135 trillion rupiah (14.3 billion dollars), she said.
Next year authorities may launch initiatives to encourage foreign investment in sectors other than commodities, Pangestu said.
Indonesia can also export more to China, India and the Middle East to offset weakening demand in trade partners like the United States, she added.
Bank Indonesia, the central bank, said last week that Indonesia posted a second-quarter current account deficit of 1.5 billion dollars, its first in almost three years.
