Indonesian Industry Ministry To Encourage Czech Investment

Jakarta, July 10 (ANTARA) - Indonesia will encourage Czech investors to build textile, defence equipment, radar and pharmaceutical factories in the country, according to Industry Minister MS Hidayat. "So far, there are no Czech investors involved in developing factories in Indonesia. Therefore, to improve both countries` economies, the Ministry of Industry will ask them to start building factories here," Hidayat said here on Monday. He added that some investors from the Czech Republic were interested in building factories in Indonesia in cooperation with Indonesian businessmen. "The Czech businessmen particularly want to invest in the machinery, military and pharmaceutical industries. Indonesia needs such investment and the Czech businessmen have expressed their willingness to invest in Indonesia, as well as export their commodities to Indonesia," Hidayat explained. He said it was the right time for Indonesia to diversify its exports and improve its domestic economy in light of the euro zone crisis. "They [the Czech businessmen] have offered to invest in sugar and textile machines. Besides, they are also ready to support our pharmaceutical industry," Hidayat stated. He said the Czech investors had also offered to build a radar factory in Indonesia, but the final decision on the matter would be made by the Ministry of Defence. "The Ministry of Defence has a regulation to not import certain defence-related goods and develop the products domestically. So the Czech businessmen should work in cooperation with one of our state-own enterprises (BUMN) under the Ministry�s control," Hidayat added.