Foreign Investment Growing In Lebak

Lebak, Dec 10 (ANTARA) - The regency Lebak, in Banten`s interior area, relies on foreign investment in cement industry to improve the economic condition of the poor district. Up to last year, foreign investments in Lebak were worth only Rp900 billion , but the investment value is expected to increase with plan by a Thai company to build a new cement plant in that district. "A leading Thai company plans to build a cement plant in Lebak," head of the licensing agency of the Lebak regency Hari Setiono said. Setiono said in Rangkasbitung, on Monday he hopes to announce more details about the plan next week. He said most foreign investors are interested in investing in the mining sector in Lebak. He said in 2013,a number of foreign investors plan to build cement factories in the district. Lebak has large reserves of minerals mainly limestone, quartz sand and coal, he said. "We will intensify efforts to draw investors to the district. Foreign and domestic investments were worth around Rp8 trillion in Lebak at present , up from only Rp300 billion in 2004, he said. The increase in the investments had contributed to increase in regional income, he said. Head of the district office of the Capital Investment Coordinating Board (BKPM) Agianto Ahmad Tahir said the district administration has launched program to improve infrastructure to attract more investors to the area . Improvement of infrastructure especially roads has boosted investment in Lebak, Agianto said . Lebak also has other potential natural resources not yet sufficiently tapped such as in tourism, fishery and plantation sectors. "We are set to chalk up a significant growth of the district economy in 2013," he said, adding growth is forecast at 6percent next year.