BATAM APPROVES 1,132 FOREIGN INVESTMENT PROJECTS UNTIL 2009

Batam, Jan 23 (ANTARA) - The Batam authority approved 1,132 foreign investment projects valued at US$5.662 billion and 173 domestic investment projects valued at Rp3.245 trillion until 2009.

An estimated 300,000 workers were currently employed in Batam, head of the marketing and public relations bureau of the Batam authority Rustam Hutepea said on Saturday.

The current investment climate and security conditions in Batam were very conducive so that they were expected to attract more investors in line with the global economic recovery, he said.

"Now that Batam has been declared a free trade zone there will be a surge in foreign investment inflows in the future," he said.

In December 2009 alone, the Batam authority received nine foreign investment proposals worth US$28.625 million and four project expansion proposals worth US$241.350 million, he said.

The figure brought the number of foreign investment proposals approved last year to 82 worth US$358.727 million, he said.