North Sumatra Chalks Up 141.1 Percent Increase In Investment

Medan, North Sumatra, April 30 (Antara) - North Sumatra recorded a 141.1 percent increase year-on-year in implementation of investment projects to Rp4.74 trillion in the first quarter of this year. It was already 43.18 percent of the target of Rp11 trillion set for the whole year, head of the regional office of capital investment promotion agency Dewi Purnama said here on Thursday. It was encouraging compared to Rp1.97 trillion recorded in the same period last year, Dewi said. Implementation was dominated by foreign investment (PMA) which totaled US$308.1 million or around Rp3.85 trillion as against domestic investment (PMDN) of only Rp905.1 billion. Foreign investment projects totaled 123 in number as against domestic investment projects of only 53. She said energy sector dominated investment this year. PMA investment in energy totaled Rp2.1 trillion in 12 companies. PMDN investment in the same sector was valued at Rp556.06 billion by three companies. "With the growing investment in the energy sector the province is expected to be able to cope with its shortage in energy supply,"she said.